Singapore Standard Time 22:00:07, April 3 2019, KuCoin’s first Spotlight project, MultiVAC, saw its 600 million tokens being sold out in just 7 seconds via the initial exchange offering. Over 16k participants joined the spree, with about 1.6k lucky fellas successfully winning the prizes.

Indeed, there were some imperfections this night which, I am strongly convinced, will encourage us to perfect ourselves, in operation, in technology, and in innovation going forward.

I now see every aspect that will allow all of us to move forward.

Projects should continue to be diligent in their tech development as well as in properly promoting themselves. Crypto investors should have faith and continue learning. Exchanges should put more effort into developing a more stable, secure and mature trading engine for traders, while also creating a larger platform for great projects to show their potential.

And none of these can be precisely coded. Sounds funny, huh? But, just like our CEO Michael and MultiVAC’s founder Frank said in an interview two days prior to the Spotlight launch:

“The whole blockchain industry is about innovation, exploration, and trial and error.”

The transcript of the interview is as follows:

Interviewer: Some believe that the so-called fever for these new types of “launch platforms” won’t last long, and they even criticize it for being a regression of the blockchain industry. What do you think?

Michael: Blockchain was born in the spirit of innovation, and it’s still in its early stages where it is natural to apply all sorts of creative approaches, even on an opportunistic basis.

I myself don’t believe in plain sailing on this ocean. There are various trials and errors along the bumpy way. What we, as a crypto exchange, can do is keep screening good projects for our users who aim to hunt value.

As for whether it’s a regression or progression, only time will tell.

Frank: From where I stand, it’s more in the name of KuCoin’s program — Spotlight — offering good projects an exclusive exhibition platform. You guys probably know that tech teams are not good at publicity — not as good as we are at coding obviously.

So, for us, the new platform came just in time. We will be able to grab attention from a wider audience, especially from developers who are seeking to deploy their Dapps. Spotlight helps to get our basic blockchain infrastructure platform on their radar.

Therefore, I’d rather consider it as providing projects with a creative display stand. I don’t think it’s a regression of the industry.

Interviewer: Why did you guys choose each other? I mean, we all know that the first project would naturally be the most eye-catching one, in both a promotive and stressful way. What is so special about MultiVAC (MTV)? And what differentiated KuCoin from other exchanges?

Michael: We screened MTV out among more than a dozen potential projects to be the first Spotlight. What impressed me at first glance of this project was that it was very detail-oriented, from the white paper to the yellow paper, from the fundamental information to the technology documents, which helps investors understand the project by inches.

After speaking with Frank in person, I found that I have already been using an App he developed. I respect his professionality a lot, as well as his vision and value, which matches with KuCoin’s. Such mutual trust brought both teams together.

In addition to personal bonding and chemistry between both teams, the major feature we see in MTV is — well I think the audience will be able to tell the difference between MTV and some of the projects launched on other exchanges.

Rather than short-stand profits or exposure, we aim at greater achievement to help good projects attract funds and attention from an early stage, supporting their long-term and sustainable development.

Frank: Me and Michael share a lot of things. For instance, we share a tech and entrepreneurial background, work experience at leading internet firms — Michael worked at Alibaba’s Ant Financial while I was with Meituan, with the same investor, IDG, and same core values. There is chemistry indeed.

As for Spotlight, since we respect KuCoin’s role as “The People’s Exchange”, aiming to benefit the largest group of crypto believers, its new strategic platform has our full confidence.

On the other hand, we feature ourselves as an infrastructure constructer in the blockchain industry, and dream to drive the technology’s further development from the fundamentals.

And there’s another interesting thing — we have this slogan: ‘let there be light’. It is from a science fiction story that tells of a super computer that saves human-beings from extermination. And guess what, here comes KuCoin’s Spotlight!

We hope to be spotlighted, and to then lighten the whole blockchain world. So, you see, we also share idealism. It’s no wonder that both teams make such a great match.

Source: Chinese blockchain We-Media Mortune Cat