KuCoin Token (KCS)
Table of Contents
KCS is the native token of KuCoin Exchange 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.
- KCS Management Foundation burned 20 million KCS as announced in whitepaper [31 Mar 2022]
- Biggest $KCS burn ever
- KuCoin and the KCS Management Foundation jointly released the KCS Whitepaper. [29 Mar 2022]
ERC-20 token running on the Ethereum network and supported by most Ethereum wallets.
The total supply of KCS was set at 200 million.
KuCoin Community Chain (KCC)
Built by the fans of KCS and KuCoin’s fan communities, KCC is a decentralized public chain with EVM compatible and high performance. KuCoin Token (KCS) is the only fuel and native token for KCC and can be used to pay gas fee.
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, which comes 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.
Trading Discount on KuCoin Exchange
KCS can be used to pay trading fees on the KuCoin Exchange, allowing users to enjoy discounts of 20%.
The KCS Foundation website presents the whitepaper details with beautiful info-graphics. A PDF version can also be found there too.
The KCS Whitepaper provides detailed explanations and bold prospects for the future development, governance, token redistribution, value capture and deflationary mechanism, and self-circulating ecosystem of KCS.
- KCS Management Foundation will serve as the entity responsible for the development, decision-making, investment, and application of KCS.
- gradual transition towards an autonomous governance structure for the KCS ecosystem will be realized, with management and development completely handed over to the GoDAO community.
- of the 65 million KCS held by the founding team:
- 20 million will be burned
- 20 million will be used as long-term incentives for KCS holders and ecosystem contributors
- 25 million will be donated to the KCS Management Foundation to be released over a period of 5 years.
- of the 25 million held by early investors,
- 7 million will be donated to the KCS Management Foundation to be released over a period of 5 years
- 18 million will be released to the early investors over a period of 5 years.
- KCS ecosystem will focus on enriching the KCC public chain ecosystem
- road-map includes constructing a payment system and developing a Web3 ecosystem
If my understanding is correct, the founding team is contributing all their initial allocation (65 million KCS tokens) towards the further advancement of the KCS ecosystem.