It has been an excellent year for the KuCoin exchange with 2 IEOs happening back to back, one is for Lukso (LYXe), and the other is for Bitbns (BNS). When most of the exchanged failed to accomplish their objectives, KuCoin helped to raise millions from the projects, thereby outperforming the other contemporary exchanges.
After bagging all these achievements this year, KuCoin Spotlight is currently governing an IEO for Velo, which is the largest decentralized finance project in Southeast Asia. Velo is a next-gen DeFi (decentralized finance) protocol that focusses on revolutionizing the money markets. It is the first “Federated Financial Network” to bridge the gap between the digital world and the real world.
Velo was launched at the time of the 8th-anniversary celebration of the KuCoin Spotlight exchange to build a decentralized payment network that will allow partners to transfer value amongst each other in a transparent way securely. The token sale of Velo on the KuCoin Spotlight exchange will be conducted via a lottery system, where users would be allowed to get tickets in different ways, like KCS or by participating in Kratos (KTS) Lockdrop or even through 3rd-anniversary campaigns. The lottery results are expected to be announced on September 15.
The previous IEOs for BNS and LYXe that were both conducted on the KuCoin Spotlight exchange this year has managed both the projects to bag an average ROI (return in investment) of 1100%, with BNS accounting for the smallest 300%, and LYXE marked a massive gain of 809%.
Therefore, the VELO token sale is also looked upon with great expectations by the investors, and they are hoping to be able to follow the same massive exposure. If the IEO goes successfully, Velo will bolster its position as the biggest payment network in Southeast Asia.