Kuna, a bitcoin and cryptocurrency exchange based out of Ukraine is holding a unique secondary coin offering (SCO) for its own company token, which it will conduct on its own platform.
First and foremost, its main goal in creating its own coin and raising public funds is for the expansion of its services to Russia, Kazakhstan, Azerbaijan, Georgia, Armenia, Belarus, and Turkey. Kuna is looking to seize upon the opportunity to service this target market size which is in the excess of 266 million people.
100,000 KUN tokens will be offered for sale in an auction format, the starting price will be 0.003 BTC for 1 KUN token. The SCO will begin on July 28th at 10:10 am in Kyiv and end on August 8th.
With funds raised Kuna will look to accomplish the following aside from pushing into new markets:
– Enable depositing and withdrawal in USD and EUR
– Add new trading pairs, has already added ETH, will also add WAVES
– Deploy bitcoin and multiple cryptos enabled ATMs throughout Ukraine
– Launch VISA/Mastercard BTC-to-Fiat debit cards
– Will finish developing and perfecting a technical platform to facilitate the launch, management and successful completion of ICOs
– Project CryptoHryvnia: like Tether, this project will involve a 1:1 (parity) exchange rate between relevant tokens and the Ukrainian hryvnia
– Recruiting of new specialists and developers to the team
Currently, Kuna’s daily trade volume is approximately 20 BTC, it has set a goal of reaching 1,000 BTC equivalent per day. With the noted developments, the team said they expect results to produce 50x growth.
The company believes implementing the above plan will allow them to scale both total exchange volumes and revenues. If accomplished, an expected result of this new daily trade volume and revenue will be an increase in the market price of KUN tokens and Kuna’s ability to issue dividends to token holders.
A proportion of the exchange’s profits will be distributed among holders of KUN tokens as dividends. Holders of tokens will receive such dividends in a proportional manner which reflects the size of their token ownership relative to the total amount of tokens held by all parties. The size of the dividends will be determined by October 2017, after the end of Kuna’s fiscal year and official audited report.
The Kuna team stated:
“We operate in the most difficult market – Ukrainian; moreover, we are familiar with nuances and gray areas of the system and our experience allows us to make realistic forecasts on how the similar markets will be developing in the future. The key to any market is to understand the needs of the potential customers, and we as key players understand these needs and have all necessary experience and team fulfill them.”