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Post Covid Hack Live Broadcast Recap

Time: 01/12/2020, 20:00 (UTC+8)

Lou YU, KuChain operation lead, joined the live broadcast of Post Covid Hack (Demo Day — Announcing the Winning Projects).

Here is the full transcript for you.

Lou YU, KuChain operation lead

Lou: First, many thanks for all the candidates and projects for this amazing Hackathon. It is called post-covid but I guess we will be dealing with the pandemic for quite a while still.

As we are already going through a second wave of the Covid, personally I think it’s important for the crypto community to stick together. The world might be needing more contribution from us given all the ongoing uncertainties and crisis. For me there’s a sort of duty for the crypto people to popularize and normalize our knowledge, for a larger and non-tech audience. And that’s why I, along with KuChain, is strongly promoting open-source technology and knowledge-sharing among the crypto world.

I’m really happy that KuChain and KuCoin have been part of this Hackathon and very glad to see such devoted organizers Indorse and Coinsilium, and other contributors aligning together with this blockchain spirit.

Q1. How can developers contribute to KuChain?

Lou: KuChain is, as you may already know, a public chain that has a strong financial DNA with the KuCoin Exchange on its back. We are mainly focused on the Decentralized Financial Applications, for which our chain aims to lower all kinds of barriers. From the tech aspect, KuChain is built on the basis of Cosmos-SDK and made quite a lot modifications with the modules, in order to facilitate cross-chain consensus, high frequency trading, scalability, liquidity and other trading related functionalities and tools.

Now if you are a developer that is familiar with smart contracts, cross-chain solutions, financial service implementations and other potential financial related ideas of development, you are probably able to implement your own DApp on top of KuChain.

But before any tech implementation, I think we would have to get to know more about each other.

  • We can do this from a meeting call directly with me and KuChain team,
  • But here we also have KuChain’s discord channel where we can discuss more details, and where potentially could also bring you guys some exposure among KuChain’s core developer community.

The aim will be,

  • 1st of all, for you to have a more concrete idea what KuChain is doing.
  • 2nd, for me and the team to understand better your skill set, your visions and goals.
  • And at last to dive deeper into your DApp ideas, plans and strategies.

To conclude, your way to contribute to KuChain, will be:

  • To implement your DeFi Application/tools on top of KuChain
  • Or, if your are more into the basement layer, to contribute to KuChain’s fundamental coding
  • And if you are nor sure of any of the above, you can simply contribute your experiences and insights in discussions within KuChain’s developer community.

Actually we’d love also to support projects having development skills, to define and explore their business potentials. And of course all development contributions to KuChain are incentivised not only with an on-chain mechanism, but also with marketing, community and other lobbying resources.

Q2. How KuChain supports and incentives on-chain development?

Lou: In terms of the on-chain development incentive mechanism, it’s composed of two different types of incentives:

  • 1st, by going through an on-chain development proposal, an application’s development can receive a sum of grants from KuChain Foundation depending on the project’s potential, once being approved by the network’s validators.
  • 2nd, if the corresponding application is the first of its kind to be built on top of KuChain, it could be inboxed as a on-chain Saas module for the latecomers to call-on to build similar services on KuChain. And every-time your Saas is called, fees are generated and distributed to its creator.

For example, say, by applying for a development grant from KuChain, you developed the first AMM based DEX application on KuChain, and had it modularized as a AMM DEX Saas on KuChain. This would facilitate the life of projects that are very good on the business aspects but that are lacking development skills. As they would just have to call on your AMM DEX Saas and have some figures customised to generate their own application. The more calling on your AMM DEX Saas, the more fees will be generated on-chain and distributed to you. So, see, this does not only incentivise developers to be the early birds, but also encourages innovation and solid tech implementation. And moreover, this lowers the barriers of our whole industry.

Now in terms of support, from the tech aspect KuChain is very keen to receive any kind of demand from the application level, so the basement layer of KuChain would also improve itself to better serve the applications on top of it.

And from the marketing, community or other lobbying aspects. KuChain itself has more than 10k community members that are eager to learn more on KuChain’s ecosystem projects. So for a project’s basic exposure it’s quite convenient.

And as KuChain is playing an important part in the Cosmos ecosystem with a tech research oriented Joint-Labs called Ti-Labs initiative. The Labs not only support projects technically, but also invest and incubate. So a KuChain ecosystem project is also getting exposure and support on the Labs and Cosmos ecosystem perspectives.

Apart from KuChain’s own community and extensive influence, don’t forget that KuChain is backed by KuCoin Exchange. Which means we also share business, investment, marketing, secondary market resources and experiences with KuCoin, that KuChain ecosystem projects could benefit from!

So these are basically what I believe there are the essential and complementary elements that KuChain could provide to help boost projects which are interested in contributing to KuChain’s ecosystem :)

Community

KuChain emphasizes the core value of community first, aiming at a prosperous ecosystem jointly contributed, and the path of which will be collectively decided by the whole community. Come and join us at:

GitHub: https://github.com/KuChainNetwork

Discord: https://discordapp.com/invite/2tWtHDm

English Telegram: https://t.me/KuChainOfficialEnglishCommunity

Chinese Telegram: https://t.me/KuChainOfficialChineseCommunity

Reddit: https://www.reddit.com/user/kuchainofficial

Facebook: https://www.facebook.com/KuChainOfficial

Twitter: https://twitter.com/KuChainOfficial

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