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What Is KuCoin Token (KCS)?
KCS is the native token of KuCoin Token, which was launched back in 2017 as a profit-sharing token that allows traders to draw value from the exchange. It was issued as an ERC-20 token running on the Ethereum network and was supported by most Ethereum wallets. The total supply of KCS was set at 200 million, and there is a planned buyback and burn until just 100 million KCS remain. Sooner or later, as the KuCoin decentralized trading solution goes live, KCS will be the native asset of KuCoin’s decentralized financial services and the governance token of the KuCoin community in the future.
KuCoin has also announced that “Empowering KCS” will be a key priority of KuCoin and will build KCS as a killer product rather than a simple token, which is bound to diversify further the benefits that KCS holders can access. KCS performs as the key to the entire KuCoin ecosystem in the long run. With the development of DEX and KuChain, KCS will also be the underlying fuel and general token for future KuCoin decentralized products. More details will likely be released soon.
What Makes KuCoin Token Unique?
KCS Bonus is regarded as one of the best ways to get passive income. Users who hold more than 6 KCS can get a daily dividend from 50% of KuCoin’s daily trading fee revenue. KCS Bonus is a unique incentive mechanism for KCS holders and KuCoin ecosystem builders. The amount of rewards that users can get depends on the number of KCS held and the trading volume of the KuCoin Exchange.
What Is The KCS Used For?
Besides being paid out as a dividend, KCS, as a utility token, is also used to pay for trading fees on the KuCoin Exchange, allowing users to enjoy discounts of up to 80%. The use case of KCS also includes participation in the token sale on KuCoin Spotlight and LockDrop/BurningDrop on the Pool-X platform. But this is not all, as KCS tokens also serve a series of other purposes on the platform. For instance, KCS holders can become KuCoin VIPs, and users no longer need to have a huge BTC trading volume to unlock the reduced maker and taker fees. In addition, KCS can also be used as a payment method for shopping, making hotel reservations, buying gaming equipment, and more.
What Is A KCS Burn?
The KCS initial supply was set at 200 million. This is because KuCoin and the KCS team buy back KCS from the market and burn them every quarter. The amount of KCS to be burned
depends on the quarterly trading volume of the KuCoin Exchange. So the circulating supply of KCS is decreasing and will eventually settle down at 100 million.
How Is the KuCoin Token Network Secured?
KuCoin employs the standard encryption protocol that ensures that user data and data transfers within the system are hidden from other users.
It uses a multi-cluster and multi-layer architectural system that can accommodate more than one transaction simultaneously, ensuring system stability throughout every transaction.
Who Are the Founders of KuCoin Token?
The KuCoin Exchange is a cryptocurrency exchange headquartered in Singapore. It launched on September 15, 2017. The company was originally co-founded in 2013 by the following people: COO Eric Don, marketing director Jack Zhu, president of business operations John Lee, operations and maintenance director Kent Li, chief legal consultant Linda Lin, CEO Michael Gan and CTO Top Lan.
Where Can You Buy KuCoin Token (KCS)?
- ProBit Exchange