Johnny Lyu is a cofounder and CEO of KuCoin, a global leading cryptocurrency exchange. Founded in 2017, KuCoin quickly boomed in popularity to become one of the largest international crypto exchanges. Lyu, based in Asia, says this company has more than 10 million users across 207 countries and regions around the world.
The exchange offers access to hundreds of tokens and offers relatively low fees. As of this time, KuCoin isn’t licensed to operate in the United States. The company is based in the Seychelles and isn’t subject to U.S. regulations.
Last year, KuCoin Exchange’s cumulative trading volume was self-reported to be around $1 trillion with an average daily trading volume reaching the $3 billion mark. This places the company within the top 10 cryptocurrency exchanges in the world.
KuCoin experienced stellar growth throughout 2021. For example, its token, KuCoin—KCS—noted a 30x value increase throughout 2021. The company welcomed more users, had higher trading volumes and noted strong support for its Trading Bot solution. This program allows people to dollar-cost average their investments in cryptocurrencies. The system calls for buying a certain amount of a securities or digital asset each week or month. When this occurs, you buy at different price points rather than taking the chance of buying when bitcoin or Ethereum is selling at an all-time high prices.
KuCoin is celebrating its success by offering lush bonuses to its employees. KuCoin currently employs over 600 people around the world and is looking to hire about 200 more staff members. The continued growth in revenue means higher bonuses for employees. It is one of the perks of working for a fast-growing exchange, Lyu said.
Over 90% of the employees received at least six months of salary as their year-end bonus. Additionally, 5% of employees—those who performed well across key metrics—received up to 12 months of salary as a bonus. The top bonus tier is over $100,000.
Lyu said of his company, “We are proud to have the most versatile employees who all prioritize being team players over individual gain. Our growth throughout 2021 would not be possible without their hard work and dedication. The year-end bonuses we offered to all our employees are the result of their strong commitment to make KuCoin a leading global cryptocurrency exchange.”
Employees have the option to be paid in fiat currency, bitcoin, Ethereum or other cryptocurrencies. Roughly half of the workforce prefers getting paid in cryptocurrency.
The company recently launched a new initiative. Lyu recognizes the long-term growth potential of the metaverse, pointing out that it will change the way people work, connect, shop, entertain, make money and have social interactions. The organization launched the KuCoin Metaverse Fund. It is intended to accelerate the maturation of the emerging blockchain category by further strengthening the application of blockchain technology to a Web3 version of metaverse with a $100 million fund.
KuCoin Labs will offer funding for projects enrolled in the KuCoin Metaverse Fund. If accepted into the program, it will provide project incubation, primary market investment, business partnership support, branding and marketing support and a go-to-market strategy.