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About KuCoin Token
Key Points:
- KCS is the native token of KuCoin, launched in 2017 as a profit-sharing token.
- Total supply: 200 million, with a planned buyback and burn until 100 million KCS remain.
- KCS is the native asset of KuCoin’s decentralized financial services and governance token of the KuCoin community.
- KCS Bonus: users who hold more than 6 KCS can get a daily dividend from 50% of KuCoin’s daily trading fee revenue.
- KCS is used to pay for trading fees on the KuCoin Exchange, with discounts of up to 80%.
- KCS can be used for token sales, LockDrop
Introducing KuCoin Token: Empowering the Future of Cryptocurrency
Introducing KuCoin Token (KCS): A Comprehensive Overview
KCS, the native token of KuCoin, was introduced in 2017 as a pioneering profit-sharing token, empowering traders to reap benefits from the exchange. Initially issued as an ERC-20 token on the Ethereum network, it was widely supported by most Ethereum wallets. The total supply of KCS was capped at 200 million, with a planned buyback and burn strategy in place, ultimately reducing the supply to 100 million. As KuCoin’s decentralized trading solution comes online, KCS is poised to become the native asset of KuCoin’s decentralized financial services, as well as the governance token of the KuCoin community in the future.
KuCoin has also declared that “Empowering KCS” will be a paramount priority, wherein KuCoin will transform KCS into a flagship product, rather than a mere token, thereby significantly expanding the benefits accessible to KCS holders. In the long term, KCS will serve as the linchpin of the entire KuCoin ecosystem. As DEX and KuChain continue to evolve, KCS will also assume the role of the underlying fuel and universal token for future KuCoin decentralized products. Further details are expected to be unveiled in the near future.
Unveiling the Uniqueness of KuCoin Token
KCS Bonus is esteemed as a premier avenue for generating passive income. By holding more than 6 KCS, users can reap a daily dividend, which is sourced from 50% of KuCoin’s daily trading fee revenue. This distinctive incentive mechanism is designed to reward KCS holders and KuCoin ecosystem builders. The rewards that users can accrue are directly correlated to the number of KCS held and the trading volume of the KuCoin Exchange.
The Multifaceted Applications of KCS
Besides being distributed as a dividend, KCS, as a utility token, also serves as a means of payment for trading fees on the KuCoin Exchange, thereby enabling users to benefit from discounts of up to 80%. The utility of KCS extends to participation in token sales on KuCoin Spotlight, as well as LockDrop/BurningDrop on the Pool-X platform. Furthermore, KCS tokens fulfill a multitude of purposes on the platform. For instance, holders of KCS can attain KuCoin VIP status, eliminating the need for substantial BTC trading volumes to unlock reduced maker and taker fees. Additionally, KCS can be utilized as a payment method for various transactions, including shopping, hotel reservations, and purchasing gaming equipment, among other uses.
Understanding the Concept of KCS Burn
The initial supply of KCS was capped at 200 million. KuCoin and the KCS team have instituted a quarterly repurchase program, whereby they buy back KCS from the market and subsequently destroy them, thereby reducing the total supply.
The circulating supply of KCS is inversely correlated with the quarterly trading volume of the KuCoin Exchange, which means it will continually decrease until it ultimately stabilizes at 100 million.
The KuCoin Token Network’s Robust Security Framework
KuCoin implements a robust encryption protocol, safeguarding user data and ensuring that all data transmissions within the system remain confidential and inaccessible to other users.
By leveraging a multi-cluster and multi-layer architectural system, it can seamlessly process multiple transactions concurrently, thereby ensuring unwavering system stability throughout each transaction.
The Visionaries Behind KuCoin Token: Meet the Founders
Situated in Singapore, the KuCoin Exchange is a prominent cryptocurrency exchange that commenced operations on September 15, 2017. The company’s origins date back to 2013, when it was co-founded by a team of visionary individuals, including 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.
The Circulating Supply of KuCoin Token (KCS): A Closer Look
As of February 2021, the circulating supply of KuCoin Token (KCS) stands at 80,118,638, with a capped maximum supply of 170,118,638.
Acquiring KuCoin Token (KCS): A Comprehensive Guide to Exchanges and Platforms
KuCoin Token (KCS) is listed and actively traded on a variety of prominent cryptocurrency exchanges, including:
- The esteemed KuCoin
- BitMax, a prominent player
- ProBit Exchange, a notable platform
If you’re curious about learning the intricacies of Bitcoin trading, you can access a comprehensive resource guide
here
, providing all the necessary information to get started.
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