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- MojitoSwap is a new DEX that’s launching on the KCC blockchain
- KCC is an Ethereum-compatible blockchain that uses KuCoin’s KCS as its native token
- The MojitoSwap has prepared two airdrops for the KCC userbase and KCS holders
MojitoSwap is launching a new DEX on the KCC blockchain
The KCC blockchain has got a new decentralized exchange with the recent launch of MojitoSwap. Alongside the exchange’s launch the project has also announced an airdrop of 1 million MJT tokens as an incentive to early adopters.
KCC is a blockchain platform that uses KuCoin’s KCS token as its native asset. However, any project can choose to deploy a decentralized application on the network, as the KCC chain is completely public. The motivation behind the launch of KCC was to provide a high-performance public blockchain that’s compatible with Ethereum while keeping transaction costs low. One of the main reasons why KCC can achieve this is its Proof-of-Staked-Authority (PoSA) consensus mechanism.
The MojitoSwap DEX is based on the automated market maker (AMM) model which was initially introduced by Uniswap. In an AMM, users can deposit tokens in a pool to provide liquidity, and earn trading fees when users tap into the pool’s liquidity to swap between tokens. MojitoSwap features a governance and utility token called MJT, which users can earn through staking or yield farming.
Of course, the MojitoSwap airdrop is another way that users can get their hands on some MJT. The MojitoSwap team has decided to split the airdrop in two rounds, and they both reward participants in the KCC ecosystem.
The first airdrop round already launched on October 9, and rewards users that performed a certain number of transactions on the KCC blockchain before block 2,080,000. Users will be able to claim this airdrop within a six-month period. The second round of the airdrop will be based on users’ KCS holdings between October 19 and October 21.
In total, 1% of the MJT token supply will be distributed through the two airdrop rounds. The largest allocation of the supply (75%) has been reserved for liquidity mining, which will provide tokens for the protocol’s users. The MojitoSwap team plans to gradually transfer ownership of the project to a DAO which will be governed by MJT holders.