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KuCoin Ventures makes strategic investment in Torches Finance

Global cryptocurrency trading platform KuCoin’s venture capital arm – KuCoin Ventures – has made a strategic investment in Torches Finance, the decentralised lending protocol based on KuCoin Community Chain (KCC).

Torches Finance is a KCC-based lending protocol that integrates functions such as lending, leveraged mining, and NFT. So far, Torches Finance has opened deposit and lending services for BTC, ETH, KCS, USDT, and USDC. Torches Finance has made serious efforts to enrich usage scenarios, innovating token incentive models and implementing strict risk management measures. The Torches Finance usage scenario foresees users gaining token benefits through various channels, including, but not limited to, providing liquidity, lending, participating in governance, etc.

After receiving the strategic investment, Torches Finance will be improving the ease of use and market share of products from a variety of aspects, including categories such as products, technology, security, team, and market. In terms of products, Torches Finance will upgrade and optimize existing services, while continuing to expand the depth of current products, effectively improving the asset utilization rate of investors. At the same time, Torches Finance will continue to work with DeFi projects on the KCC to jointly build the KCC DeFi ecosystem.

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