In its latest salvo to address the world’s most pressing problems, Kucoin is adding a brand new piece to its trading platform. The innovative Suez Protocol, designed to keep the world’s most important waterway open and prevent future trade blockades, will make owners smile. Too soon?
Determined to help fight future blockchains, Kucoin unveilssuez listing
After blocking the Suez Canal for nearly a week, disrupting world trade and sending container prices soaring, a cryptocurrency project offers a quick fix to the disruption.
This new initiative, called Suez Token (SUEZ), is being touted by industry officials and world trade experts as a panacea that will remove all future channel blockages. Designed for a primary listing on Kucoin, which is known for recruiting and addressing projects on its exchange platform, this multi-purpose blockchain will be perfectly suited to address Suez’s next incident.
Interacting with this unusual new project
This very docile block system works on a consensus dredging mechanism. When the next ship blocks world trade, the continued efforts of this piece will actually provoke a response to dredging and towing, while maintaining the flow of vital goods. Dredgers who remove a tonne of sludge are rewarded with 50 SUEZ tokens.
SUEZ operates in the form of SRC-20 utility tokens, and the unnamed team behind the project plans to transfer them, on a 1:1 basis, to the next Suez circuit once the backbone is operational. Moreover, following the current trend, the platform will also include a platform for minting NFT coins with three commemorative NFT coins already minted and ready for auction.
The Kucoin exchange platform will handle the auction of tokens through its main listing service. The Suez Token Team has stated that 50% of the proceeds from the auction will go towards improving the Suez region, 30% will go to the NMT fund and the remaining 20% will be distributed to the holders of the tokens.
Token holders who have more than six SUEZ tokens in their portfolio are entitled to a 50% share of the channel fees collected each day. Even better: Owners of more than 10,000 tokens get a 20% discount on a slow boat ride on one of the world’s most vital but least maintained waterways.
For more information on the sale, which runs from April 1 to 3, members can check the Suez Token Twitter account or Kucoin news.
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