The Waves Platform has been on a roll as of late, securing long term partnerships, such as the Gazprombank Digital and the National Settlement Depository for Moscow to name the most recent. Waves investors and users have barely had a moment to breathe and take in all the information. With Waves moving like a bullet train, it is not surprising that Kuna’s partnership with Waves has been well under the radar.
The Kuna Exchange is a Ukrainian cryptocurrency exchange that has been live for nearly half a year. Exchange’s first ICO (Initial Coin Offering) raised a total 274 BTC. As it stands, the exchange is currently focused towards Ukrainian users with multiple pairs for the Ukrainian Hryvnia against cryptocurrencies such as BTC, WAVES and ETH. Currently online is an Audit report of the Kuna Exchange up until June 17, 2017, where you can review its performance.
Now, with an intuitive and functional exchange, Kuna Exchange is looking to expand its services. The Kuna Exchange and Waves struck a deal in order to facilitate potential Waves ICOs, providing support and services. In order to fulfill these requirements, the exchange has begun a Second Coin Offering (SCO). The SCO will help fund these “ICO-as-a-Service” (IaaS) features. Essentially, IaaS is a premade template for those seeking to hold an ICO based on Waves. This much-needed service eliminates the need for potential ICO creators to hire web designers to create a platform to host their ICOs. All that is needed to use this service is for ICO creators to set the terms, for example, minimum or maximum funds they wish to collect, and then send the tokens to the Kuna Exchange website.
The ICO service will be one of a kind in that there will be built-in unique features. Firstly, ICOs will be a bidding war rather than a traditional “first in best dressed” system. The higher the rate per token the investor is willing to pay, the more likely their orders will turn into token offered. Users can continue to bid higher and higher by canceling old orders and putting in new orders. At the end of the ICO, tokens will be awarded to the highest bidders.
Secondly, as soon as the ICO is over, a “side order book” will appear where anyone can buy or sell these newly created ICO tokens immediately. These side order books are not official Kuna Exchange pairings so users are warned in advance of the dangers of unvetted order books. If there is a lot of liquidity, and the token is vetted, then the token is likely to be added to the main exchange.
All of these services will be provided free of charge. The model is that these side markets, as well as potential markets moving to the main exchange, will provide enough liquidity to make a profit off transaction fees. These transaction fees will be the source of revenue sharing for exchange investors in the future.
One of the great appeals is that it will be marketed and focused on the ex-Soviet Union like Russia, Kazakhstan, Azerbaijan, Georgia, Armenia, Belarus and Turkey. As of late, this region of the world has started to embrace cryptocurrency technology with open arms. It is the focus of Kuda Exchange to initially market to these countries; the great untapped cryptocurrency market.
In order to participate in this ICO, head to https://kuna.io, sign up and place an order.