What Is KuCoin Token (KCS)?
KCS is the native token of KuCoin, which was launched again in 2017 as a profit-sharing token that permits merchants to attract worth from the alternate. It was issued as an ERC-20 token working on the Ethereum community and was supported by most Ethereum wallets. The overall provide of KCS was set at 200 million, and there’s a deliberate buyback and burn till simply 100 million KCS stay. Eventually, because the KuCoin decentralized buying and selling answer goes reside, KCS would be the native asset of KuCoin’s decentralized monetary companies in addition to the governance token of the KuCoin neighborhood sooner or later.
KuCoin has additionally introduced that “Empowering KCS” can be a key precedence of KuCoin and can construct KCS as a killer product quite than a easy token, which is certain to additional diversify the advantages that KCS holders can entry. In the long term, KCS performs as the important thing to your complete KuCoin ecosystem. With the event of DEX and KuChain, KCS may also be the underlying gasoline and common token for future KuCoin decentralized merchandise. Extra particulars will seemingly be launched within the close to future.
What Makes KuCoin Token Distinctive?
KCS Bonus is thought to be among the best methods to get passive earnings. Customers who maintain greater than 6 KCS can get a every day dividend, which comes from 50% of KuCoin’s every day buying and selling charge income. KCS Bonus is a novel incentive mechanism for KCS holders and KuCoin ecosystem builders. The quantity of rewards that customers can get is dependent upon the variety of KCS held and the buying and selling quantity of the KuCoin Alternate.
What Is The KCS Used For?
Apart from being paid out as a dividend, KCS, as a utility token, can also be used to pay for buying and selling charges on the KuCoin Alternate, permitting customers to get pleasure from reductions of as much as 80%. The use case of KCS additionally contains participation within the token sale on KuCoin Highlight, in addition to LockDrop/BurningDrop on the Pool-X platform. However this isn’t all, as KCS tokens additionally serve a sequence of different functions on the platform. For example, KCS holders can turn out to be KuCoin VIPs and customers not must have an enormous BTC buying and selling quantity to unlock the diminished maker and taker charges. KCS will also be used as a cost methodology for buying, making lodge reservations, shopping for gaming tools, and extra.
What Is A KCS Burn?
The KCS preliminary provide was set at 200 million. KuCoin and the KCS workforce are shopping for again KCS from the market and burning them each quarter. The quantity of KCS to be burned
is dependent upon the quarterly buying and selling quantity of the KuCoin Alternate. So the circulating provide of KCS is reducing and can finally quiet down at 100 million.
How Is the KuCoin Token Community Secured?
KuCoin employs the usual encryption protocol that ensures that consumer knowledge and knowledge transfers throughout the system are hidden from different customers.
It makes use of a multi-cluster and multi-layer architectural system that may accommodate a couple of transaction on the identical time, making certain system stability all through each transaction.
Who Are the Founders of KuCoin Token?
The KuCoin Alternate is a cryptocurrency alternate headquartered in Singapore. It launched on September 15, 2017. The corporate was initially co-founded in 2013 by the next individuals: COO Eric Don, advertising and marketing director Jack Zhu, president of enterprise operations John Lee, operations and upkeep director Kent Li, chief authorized marketing consultant Linda Lin, CEO Michael Gan and CTO Prime Lan.
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How Many KuCoin Token (KCS) Cash Are There in Circulation?
KuCoin Token’s (KCS) circulating provide is at 80,118,638 KCS as of February 2021, with a most provide of 170,118,638 KCS.
The place Can You Purchase KuCoin Token (KCS)?
KuCoin Token (KCS) buying and selling could be discovered on the next exchanges:
- KuCoin
- BitMax
- ProBit Alternate
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