Kucoin Statement

Jun 3, 2024
3m
Kucoin Statement

Hey All.

We would like to make a quick announcement regarding the frustrating decision from Kucoin to halt the trading of $Hero on their platform as of Monday the 3rd June. This comes seemingly on the basis of currently changing rulings around their expected organic volumes on our trading pair. 

Trading for the Hero token remains on several other notable exchanges of course, but having experienced a healthy dialogue with our designated kucoin representative for some while now, and been on hand to answer any questions they’ve had since our takeover, we are as frustrated as anyone at the way in which this has been resolved. Given the weekend timing of the sudden announcement, it also means we haven’t had an opportunity to discuss this decision directly, prior to this being announced. So we can only take this decision is final for now.

We have, of course, immediately reached out directly once again to our point of contact at Kucoin, the timing of this news over the weekend however means we have had to await for their return to the office for a response on this and indeed on the possibilities or stipulations for any collaboration going forwards following the various deliveries planned ahead.

In the mean time, we advise that anyone that does favour using CEX’s and holds Hero tokens on Kucoin, should safely move them to a personal wallet for storage before Kucoins deadline of November 28 2024 10am UTC. Or, if one prefers to use Cexes, they should move them to one of the other established and well known exchanges such as Bybit, Mexc and Gate.io etc.

We have long been advocates of self custody when it comes to crypto for this very reason. But appreciate that some like to manage their finances utilising such centralised exchanges, and so our plans remain the same regardless of this announcement.

To upgrade our HQ as is in process, and to deliver our app and further features, at which point we look to expand our brand awareness and marketing campaigns around the releases of these major milestones, and to push, as per our roadmap for further CEX listings in line with those key milestones, given our steadfast belief in the ability for these matters to increase awareness and interest in the Metahero platform. 

Our understanding from ongoing communications with the representative we have been working with at Kucoin, was that they understood this was the situation here and we have repeatedly made them aware of our ongoing developments and plans ahead, but given their swift shift in position, we now have begun the process of reviewing what options there are on the table moving forwards.

New exchanges have always been a part of our proposed plans in our roadmap, and this remains the case. First port of call, of course though, is establishing the upcoming HQ move and importantly, our plans for the upcoming app/hub launch. Such matters have always been the next major focal points for increasing awareness and excitement around Metahero first before expanding listing options. 

The development steps continue as laid out regardless and we look forward to the accompanying campaigns around the stated milestones listed in our roadmap which are approaching , as we look to raise awareness and with it, natural engagement with our platform and it’s ecosystem over the remainder of this year and beyond. Sometimes you take a step back before pushing forwards, we look internally at what can be learnt and move forwards with even more determination to our goals. 

Onwards we move.

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