An auction aimed to sale 10% of Kuna’s shares which started 13 December has brought almost much thrice as much as expected.

According to the plan, 10% of the newly established platform was to be sold for at least 100 BTC. In reality 274.6408 BTC were attracted during the 12 days of the auction, with more than 150 BTC funded during the very first 24 hours of the crowdsale.

Michael Chobanyan, the founder of Bitcoin Foundation Ukraine and co-founder of Kuna, has called the project’s success “a unique precedent not only for Ukraine but for the whole world,” saying “everything will be blockchain.”

The bitcoin exchange plans to attract investors and create a “healthy ecosystem” which will help to lower UAH/BTC exchange fees from 3-5% to 1%.

Positioning itself as a socially responsible company, Kuna plans to spend 10% of its profit on social programs for children, education and blockchain projects for electronic government. Beneficiaries will be decided upon by stockholders’ voting.

To protect the rights of consumers and shareholders, Kuna analysed the experience of foreign bitcoin exchanges and regulators and developed the “rules” to comply with. The rules were presented to the country’s Central Bank this summer.

Maria Rudina