KICK token is waiting to be delisted from KuCoin exchange. This is for the best, and we will tell you why.
But first, the details…
The KICK/ETH and KICK/BTC trading pairs will be stopped on December 22, 2020 at 18:00 (UTC +8). We recommend cancelling all existing orders in these pairs on KuCoin as soon as possible and starting the KICK withdrawal process. You may withdraw your assets and continue trading KickToken on the KickEX exchange or withdraw KickToken to your private wallet. Official deposits and withdrawals of the aforementioned pairs will close on January 16, 2021, at 18:00:00 (UTC +8) on KuCoin.
Now, here’s why it’s happening…
The KickEX team did not inform KuCoin in time about an experimental listing with decentralized exchange Uniswap, which required the adding of liquidity — specifically, 500 Ethereum and 11 billion KICK. We had to temporarily create 10 billion KICK, due to the lack of a sufficient amount of the token. (This temporary issuance has since been burned.) It was this fact that caused the delisting since our agreement with KuCoin states that additional token issuances must be explicitly agreed upon with the KuCoin exchange.
Of course, KuCoin’s decision upset us, because we worked together for a long time and burned this temporary 11 billion KICK — but it is their exchange and their rules. We still believe that KuCoin is a wonderful exchange with a great team. We sincerely express our gratitude to them for many years of work and we regret what happened!
In an act of good faith, we will soon list the KuCoin Shares token on KickEX. Despite this issue, we still consider KuCoin our friends and hope that KICK will return to KuCoin soon.
The good news
That said, this should not be construed as bad news. There are several positives, here. For example, KickToken will no longer be affected by the KuCoin bots when Bitcoin rises or falls, which means it will become a more-independent asset.
Of course, we will continue to do everything possible to develop KickToken and the Kick Ecosystem. KICK will never be removed from the KickEX exchange. Additionally, we are actively working to allow residents of currently-prohibited countries to trade on KickEX. Our team is doing everything to solve these regulatory hurdles.
Thank you for your continued activity and support. The Kick Ecosystem is growing and developing very quickly — and, with it, so is KickToken!