Moonriver Network reported last Monday, June 7, through its Twitter account, that the KuCoin will support the next #crowdloan. According to the company, this integration will allow KuCoin users to contribute to Moonriver’s group loan without having to leave the exchange.
“The Moonbeam Foundation is pleased to announce that KuCoin, one of the most popular exchanges in the crypto space, will support the upcoming Moonriver collective loan. This integration will allow KuCoin users to contribute to Moonriver’s collective loan without having to leave the exchange. After Moonriver is successfully launched on Kusama, MOVR rewards will be available to Moonriver group loan participants within KuCoin”, he said through an article posted on his website.
The company explained that KuCoin is a global cryptocurrency exchange for numerous digital assets and cryptocurrencies. Launched in September 2017, KuCoin has become one of the “most popular” crypto exchanges and already has more than 8 million registered users from more than 200 countries and regions.
“A collective loan is a way for the Kusama community to support a project while bidding for a parachain slot in the Kusama network. KuCoin’s support will help expand the scope of the Moonriver group loan by allowing users to easily contribute to the group loan without leaving the exchange”, he added.
In his view, once the group loan is officially opened, KuCoin will allow users to safely participate in the Moonriver group loan from the exchange platform.
The company commented that the integration between KuCoin and Moonriver gives KuCoin users greater flexibility and choice on how they would like to participate in the Moonriver group loan. “By providing a more seamless way to contribute to the Moonriver group loan, KuCoin’s support for the Moonriver group loan will help foster broad participation and ensure that the community remains an integral part of the launch of the network”, he said.
“We are very happy to collaborate with the Moonbeam (Moonriver) team to support their parachain slot auction. The technology they have built to provide Ethereum compatibility in Kusama and Polkadot is a game changer that will benefit both ecosystems”, said Light Huang, Senior Manager at KuCoin.