In an effort to boost the development of KCC’s decentralized ecosystem, KuCoin Labs announced today that it has made a strategic investment in MojitoSwap, the first DEX on the KCC chain.
Officially launched in October 2021, MojitoSwap has introduced several features in the past few months. With an efficient layout of product functions, MojitoSwap has gained popularity among decentralized ecosystems.
According to KuCoin, the recent investment in MojitoSwap will open several new partnership opportunities between the two companies. In addition, it is the first time that KuCoin Labs directly invested in the KCC ecological native project.
"MojitoSwap, as the first DEX on the KCC chain, is honored to have the support of KCC community users and KuCoin Labs. MojitoSwap is one of the basic protocols on the KCC chain. At the opening of the KCC Unicorn Contest, I hope to use this investment to cooperate with more KCC ecological projects to jointly build the future of MojitoSwap and KCC. At the same time, we will also focus on promoting the further development of Defi, GameFi, Web3 and NFT-related tracks,” Gloria, the CMO of MojitoSwap, said.
Investments in Crypto Ecosystem
In the last few years, cryptocurrency exchanges around the world have introduced innovation and incubation arms to invest in emerging companies working in the crypto ecosystem. Binance Labs, the innovation arm of Binance, recently announced an investment in Symbiosis Finance. In December 2021, Binance Labs led the $60 million funding round of Multichain.
With the latest investment, KuCoin Labs is aiming to increase its support for promising companies. “The investment from KuCoin Labs will better assist MojitoSwap in improving its products, operations, branding and liquidity. In the future, MojitoSwap will gradually improve the liquidity mining mechanism, expand support for NFTs and create a more friendly product experience for the users,” KuCoin Labs added.
