On February 16, 2022, MojitoSwap, the decentralized DeFi protocol on KCC officially released its Launchpad feature. It also announced its first IDO project, CoolMining (COOHA). A total of 300,000 COOHA will be distributed through MojitoSwap Launchpad on February 21, 2022. MojitoSwap will also support its trading and liquidity mining.
The top DEX on the KCC ecosystem, MojitoSwap, launched in late October 2021 with Staking, Farming, Swap, and other modules such as NFT Profiles, Launchpad, etc. On February 11, 2022, MojitoSwap’s token(MJT) was listed on the KuCoin Exchange. MJT, the governance token of MojitoSwap, went up 107% on the day of listing.
MojitoSwap Launchpad is a decentralized fundraising function that helps bring vital market attention to startup projects. It increases the effectiveness of fundraising and brings projects to the attention of a broader audience. MojitoSwap aims to attract more high-quality projects and add to the KCC ecosystem through its premium connection, offering better growth opportunities for users.
It is reported that the IDO of CoolMining on February 21 will be divided into two rounds, with a total of 300,000 tokens of CoolHash (COOHA) for sale.
The first round of IDO will begin at 6:00AM (UTC) lasting for 3 hours, and end at 9:00AM (UTC). This round of COOHA costs $0.60, with a total of 150,000 COOHAs to be sold and $90,000 to be raised. Users need to deposit KCS/MJT LP tokens to participate in the fundraising, with an individual hard cap of US$3,000 worth of LP tokens. The actual COOHA will be distributed based on the ratio of personal contribution to the total deposited value.
The second round of IDO will begin at 9:30AM (UTC) on the same day. Like the first round, the number of COOHA for sale is 150,000. Users need to deposit KCS/MJT LP Tokens to participate in the IDO. The difference is that the price of the second round will be auctioned, and the final price will fluctuate depending on the multiplier of the overcapitalization. There will be no hard cap on individual contribution in this round.
After the two rounds of IDO, all successful IDO participants will be able to collect their tokens during the validity period. Any LP tokens that do not count in the purchase will be returned to the user. More details about the IDO can be found at MojitoSwap.finance
What is CoolHash? What is CoolMining?
CoolHash (COOHA) is the governance token of CoolMining, representing real-life hash power. 1 COOHA = 0.01 TH/s. That means 10^10 Hash calculations per second.
CoolMining is a blockchain game based on real-life hash power. There are many different ways to play. Players are able to participate as stakers, miners, and mining hosts to acquire hash power in the game. All hash power in the game corresponds to real-life hashrate, and every player will have a chance to earn BTC rewards in CoolMining.
Gloria, the CMO of MojitoSwap, says, "The Launchpad feature is a reflection of how the MojitoSwap ecosystem is entering a phase of rapid expansion. Having worked closely with KuCoin, MojitoSwap has been officially listed by the exchange and revealed to KCS enthusiasts. We hope that with the Launchpad, we not only continue to attract more attention to MojitoSwap and KCC, but also keep searching for projects with great potential for users. Meanwhile, we will continue to enhance the value of MJT and enrich the KCC ecosystem is our goal."
According to MojitoSwap, it will continue to expand its product ecosystem in 2022. New functions such as the NFT marketplace and Lottery will also be launched in 2022.
MojitoSwap is a DEX developed by a group of KCS community members, and it aims to offer easy access to the KCC DeFi ecosystem. The team behind MojitoSwap consists of technical experts who previously worked for large Internet enterprises with rich experience in blockchain development, senior research analysts who are deeply engaged in multiple blockchain projects and have an in-depth understanding of the DeFi ecosystem, HODLers, and early investors of BTC and ETH. Learn more about MojitoSwap: www.mojitoswap.finance
KCC is a public chain project initiated and built by the developer community of KCS and KuCoin, aiming to solve the network latency and high gas fee of Ethereum. It is Ethereum-based and compatible with EVM and smart contracts to provide community users and developers with a higher-speed, more convenient, and lower-cost blockchain experience.