The Kucoin spotlight sale is the name given to IEOs (Initial coin offerings) on Kucoin, so far Kucoin has held about 5 spotlight sales all of which are considered to be largely successful. Of the numerous spotlight sales we are going to do a side by side comparison to see which can be said to have been the most successful of all Kucoin spotlight sales.
So far Kucoin has held five IEO sales on its spotlight, and their performances till date are highlighted below:
Trias: Trias was the first IEO to be hosted on Kucoin, and it is a Beijing based project that aims to help build a network that will be absolutely reliable, robust and trustworthy, it is created to ensure that all installed softwares are been fully functional and effective in a decentralised ecosystem. Trias is one of the very first Kucoin IEOs traded at a good price upon listing. Trade opened at ×5 USD price from IEO. The project successfully raised 5.6m dollars which was it's hardcap, the IEO took place on the 4th of May.
Though development of the project is still on, but that has not reflected on its price so far as investors are still at a considerate loss from what the coins were offered to them at IEO. But the community is still hoping and trusting on the team to deliver according to the specification of their roadmap.
Chroma: Chromia is the second IEO to have happened on Kucoin, and it took place on the 28th of May, the hardcap of the project was 15m$, but in the end only about $13m$ was successfully raised. The price of each coin was offered at 0.058$ per token, and upon listing it traded at ×2 of its IEO price.
Currently the coin is trading at ×0.63 of its IEO price, putting investors at a significant amount of loss. Considering that the volume looks decent, investors can only continue to hope that it gets better through execution of the development schedule outlined by the team.
COTI: What is COTI? COTI is a project that is targetted at helping blockchain companies with raising funds and giving them global recognition and industry awareness. COTI was the third IEO to be hosted on Kucoin, the IEO took place on 4th of June 2019, and it's hardcap of 3 million dollars was raised in quick time.
Upon listing COTI went up 10× above its IEO price and peaked at ×18 at some point, at the moment however COTI is trading 3× below it's IEO price. So even though it was able to perform so well at the beginning, it hasn't been able to live up with same tempo it started with this far.
Multivac: Multivac had its IEO on Kucoin on the 3rd of April, and the price of each token was pegged at 0.006 USD per token, and the tokens were sold on a first come, first serve basis. 3.6 million dollars was projected to be raised from this IEO and that was raised successfully and without issues. And the coin rose to ×1.8 in USD when it got listed, the token ticker for Multivac is MTV.
The coin is currently trading at approximately 50% below it's IEO price and that goes to show that it didn't exactly sustain the tempo it started with at launch. So for investors, they can only keep hoping for now.
Tokoin
Tokoin is the most recent of all Kucoin IEOs, it held its IEO on Kucoin on the 23rd of August. The sales hardcap of one million dollar was met in no time. This Tokoin IEO has been argued by many crypto experts to be the best of all IEOs held on the platform, not just because it rose as high as 0.18$ from its IEO price of 0.2$, but because it's has been able to maintain a good ROI of ×7 even after 4 weeks of its listing.
After careful research as to why Tokoin unlike all the other Spotlight projects have continued to do so well, I came to realise the following things:
Continued partnership with Kucoin: Tokoin didn't limit its partnership with Kucoin to just sales, the two platforms have continued to synergise in so many ways all in a bid to further promote and help lift each other, for instance in the recent celebration of Kucoin's second anniversary, a total of 100,000$ worth of Toko was given out to users in celebration.
Trading competitions: trading competitions have also been hosted repeatedly on Kucoin, there by leading to a rise in volume while also attracting other investors in the process. A holder's airdrop was also sponsored by Tokoin in conjunction with Kucoin, where members were rewarded for holding a specific amount of coins for a given period in exchange for some reward. This helps to give more value to the project's token (Toko) and give more stability to its price.
Other useful collaborations: I read about the numerous partnerships by tokoin and when I related them to it's price stability, I reckoned that these partnerships must have played very vital roles as well. Seeing as the community members of the projects they partnered with could have picked interest in Tokoin probably after reviewing it.
I think many other factors besides the three mentioned above contributes to why Tokoin has succeeded in maintaining so much stability in price when compared to the numerous other IEOs before it, and these includes but not limited to continuous community engagement, religious execution of their roadmap, integrity and trust among other things.
Summary
Kucoin can be said to have been largely successful in its spotlight sales so far, however I think it needs to work with other projects closely as well, just like it's currently doing with Tokoin so that they can also stabilise and add more value to their token price. So far I personally feel Tokoin is the most successful of all IEOs that has ever ran on Kucoin, what do you think?
USEFUL LINKS
Website: https://www.tokoin.io/
Twitter: https://twitter.com/TokoinOfficial
Facebook: https://www.facebook.com/TokoinOfficial
Author's Telegram ID: @Bulusu