CoinBurp will be conducting an Initial Exchange Offering (IEO) with KuCoin starting at 12:00:00 on July 23, 2021 (UTC). This article contains a brief introduction of CoinBurp along with the upcoming KuCoin BURP IEO details.
MAHÉ, REPUBLIC of SEYCHELLES / ACCESSWIRE / July 26, 2021 / The DeFi space has grown to become a $71.3 Billion industry during the last few years, disrupting traditional finance with decentralized financial products for payments, lending and borrowing, exchanges, derivatives, and more.
However, the user growth in the DeFi space has largely remained steady, mainly because of the complexity surrounding the user experience and lack of proper literacy. There has been a static growth in the number of active users across various DApp categories including DeFi despite the fact that DeFi has been growing exponentially in terms of market cap and transaction volume during this period.
According to a survey conducted by CoinBurp, 33% of the participants said that they were interested in DeFi but found it “too difficult to use”, had “private key anxiety”, or were put off by the “lack of insurance”. Surprisingly, a large majority of the survey participants expressed a demand for NFTs and an interest in them as a form of collateral.
To increase DeFi adoption among the masses who are overwhelmed with the prevalent complexity, CoinBurp has developed a fully integrated CeFi to DeFi offering with a CoinBurp Wallet that includes both DeFi and NFT support.
What is CoinBurp?
CoinBurp is the largest P2P crypto brokerage and FCA-registered platform and is the top-ranking UK-based crypto brokerage platform on Trustpilot. It offers insured fiat/crypto custody and fiat (GBP/EUR) on/off ramp solutions to truly bridge CeFi and DeFi, powered by BURP token, the platform’s native governance and utility token.
CoinBurp is launching a ‘super wallet’ on top of its already established CeFi services to facilitate users to step into the world of DeFi. Users can now benefit from CoinBurp’s fiat onramp capabilities and regulated exchange infrastructure and interact straight with the leading DeFi protocols and exchanges such as Yearn, Uniswap, and AAVE with WalletConnect feature.
In addition to providing a CeFi/DeFi bridge, the CoinBurp wallet also aims to become the ‘Coinbase for NFTs’ by providing non-custodial NFT wallet functionality with a marketplace where users can buy their favorite NFT collectibles with fiat. Users will also be able to interact with external marketplaces, including Open Sea secondary markets, to purchase NFT collectibles.
The BURP Token
The CoinBurp wallet is an ETH-based DeFi wallet underpinned by the BURP token, the platform’s native governance and utility token. The total supply of the BURP tokens is capped at 500 million.
Governance: The wallet will be governed by DAO governance, where BURP token holders can directly vote on the platform’s evolution.
Utility: Users can stake BURP tokens to earn staking rewards and can also use them to pay for the exchange fees. By staking BURN tokens, users can also become eligible to participate in the unique NFT raffle loyalty programme.
The platform also has a sustainability model where 20% of CoinBurp fees will be redistributed as $BURPback among the wallets (both custodial and non-custodial) and DAO treasury.
KuCoin Spotlight is bringing exclusive IEO for CoinBurp
CoinBurp will be conducting an Initial Exchange Offering (IEO) with KuCoin, one of the largest cryptocurrency exchanges globally. This IEO is part of the KuCoin Spotlight initiative that finds and support groundbreaking crypto projects and assist them in fundraising and getting initial traction.
The BURP token sale will operate using the proportional distribution model. All the participants should have a minimum of 200 KCS, and the final allocation of the tokens will be made in proportion to their KCS holdings against the total KCS holdings by all the users participating in the IEO token sale.
Here is a detailed walkthrough of how you can participate in the BURP IEO token sale on KuCoin Spotlight. There will be a hard cap for the token allocation per user to ensure fair distribution of tokens among all the participants. BURP has a total supply of 500 million, and 1% of the total supply will be available in the public sale with no lock-up period, which means you can start trading instantly after you get hold of the tokens in your wallet.
Here are the details for the token sale subscription start/end time:
- Token Sale Subscription Start Time: 12:00:00 on July 23, 2021 (UTC)
- Token Sale Subscription End Time: 00:00:00 on July 26, 2021 (UTC)
KuCoin will manage the entire IEO process, making it easier for the users to purchase BURP tokens and start trading.
Why participate in the KuCoin Spotlight?
KuCoin Spotlight is an initiative to bring promising crypto projects to a large and established community of investors and traders on KuCoin. Every project in the KuCoin Spotlight is thoroughly vetted before they are listed on the KuCoin platform.
Historically, KuCoin Spotlight IEO offerings have performed really well, generating an average ROI of 3368% in a series of 11 spotlight token sales, with the lowest ROI being 700% even during the prevalent bearish market.
Users participating in the Spotlight token sale are required to complete identity authentication (KYC) in advance before they can make a purchase. Users from certain countries and regions cannot participate in the spotlight token sale due to KuCoin’sour compliance with local regulations.
Visit KuCoin Spotlight Center to get an overview of our previous successful token sales, and get updates on the upcoming IEO through the KuCoin Spotlight.
Crypto space has grown exponentially over the past few years, and we saw new verticals emerging within the crypto space such as DeFi and NFT among many others. However, the crypto space is largely siloed with very little interoperability, and there is a lot of friction for someone who wants to transition from the CeFi to DeFi space because of the underlying complexity and poor user experience.
Platforms like CoinBurp are bridging the gap between the CeFi and DeFi space, with an inclusion of the NFT wallet to facilitate users who want ease of access and simplicity without the overwhelming complexity. The upcoming IEO for CoinBurp’s native BURP token on KuCoin is a great opportunity to own part of a platform asset that is working towards bringing mass adoption in the crypto space.
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