-
KuCoin Token, (KCS), is the native token of KuCoin Community Chains (KCC).
-
KCS holders can trade discounts and receive passive income each day.
-
KuCoin repurchases KCS and burns it monthly, with 10% of its revenues
-
KCC holds nearly $50 Million of TVL. Many DApps are also emerging
What is KCS?
KCS is a KuCoin-specific utility token. KCS was introduced in 2017. It offers several utility benefits for hodlers. First, trader who uses the token to pay gas fees will receive a 20% discount. Users who hold more KCS will receive greater benefits. Additionally, bonuses that are tied to both their holdings and the trading volume on the KuCoin exchange are available.
KCS is basically a bet on KuCoin exchange. KCS could also rise as KuCoin’s exchange grows. According to CoinMarketCap KuCoin ranks third in terms of exchanges. KuCoin has over 8 million users across 207 countries and jurisdictions around the world.
There are many products available, including spot trading, margin trading, P2P fiat trade, futures trading and stake trading. KuCoin announced in November 2018 a $20 million round A funding, with participation by Matrix Partners and IDG Capital.
KuCoin also repurchases KCS from the secondary market monthly with 10% of the platform’s revenue. KCS bought will be burnt, reducing supply. KuCoin already has 27 burns.
To provide more support for the KCS eco-system’s development, the EIP-1559 will be implemented into the KCS Deflation Mechanism. The EIP-1559 as well as the KCC fee structure of base fee + priority fees will be included. The basic fuel fee will adjust dynamically to reflect congestion on the KCC network.
KCS is listed at several places including Kucoin and Poloniex as well as Probit and AscendEX (formerly Bitmax).
Spotlight and Burningdrop
Investors who hold KCS are eligible to participate in the token sales on KuCoin Spotlight. This is the platform that launches KuCoin tokens.
KuCoin Spotlight is home to over 20 projects. Highlights include CWAR, HOTCROSS and HOTCROSS.
Overview of ATH ROI #SpotlightKuCoin Projects
The 20th Spotlight project – @melos_studio $MELOS ROI: 10.60x 🔥🔥🔥#KuCoin $KCS @kucoincom pic.twitter.com/iniH5jdyfg
— HappyBlock (@RealHappyBlock) April 12, 2022
BurningDrop is also a fair token distribution system that supports the token distribution of many blockchain start-ups. KCS owners can participate in it. Users can lock or designate crypto assets to increase their computing power and allow for token distribution.
Top12’s ATH ROI #BurningDropGet involved in projects @kucoincom #KuCoin $FTG $PBX #H3RO3S $XCAD #1EARTH $HORD $ARKER $CPOOL $MNET $FLAME $LAVAX $ILA pic.twitter.com/Bg1HFQp8WC
— HappyBlock (@RealHappyBlock) April 6, 2022
KuCoin Community Chain
KuCoin Community Chain is powered by the KCS token. KCC operates via a Staked Authority(PoSA) consensus mechanism. This ensures that the KuCoin Community Chain has a high performance, high transaction costs, stability, and security. Block confirmation takes only 3 seconds thanks to the PoSA.
The current on-chain TVL amount to approximately $50 million. There are over 300,000.
KCC focuses its efforts on the following areas
-
A basic toolchain is built for the blockchain
-
Connecting the centralised with the decentralised
-
Building a global open-source developer platform
-
The creation of an autonomous, decentralized community
-
Interoperability protocols for cross-chain chains
-
To manage the increased load, increase the capacity
KuCoin’s ecosystem also targets NFTs, gaming, DeFi, and Web3 projects.
KCS Management Foundation
KCS Management Foundation oversees the development, investment and decision-making of KCS. It is currently working to develop and research various decentralised and centralised applications.
In the future, the KCS ecosystem – comprising the KuCoin core team, the KCC GoDAO Foundation, investment institutions, angel investors, and representatives of the KCS Holder Community – will establish more efficient, autonomous and community-based protocols and tools and will gradually remove power from the KCS Management Foundation.
The management of the GoDAO community eventually will be taken over by them.
KCS Use Cases and The Future
KCS can also used to purchase many goods and services offline and online. This token supports online shopping, hotel reservations, and online games by supporting merchants and digital payment service providers.
KCS must work with KuCoin Exchange, KCC and other partners to create a global payment system. This payment system will connect all projects within the KCS ecosystem. It should also be involved in myriad transactions such as derivatives trading, new coin launches, stablecoins, lending, NFT transactions, and the KCC ecosystem’s transactions.
Overview of ATH ROI #SpotlightKuCoin Projects
The 20th Spotlight project – @melos_studio $MELOS ROI: 10.60x 🔥🔥🔥#KuCoin $KCS @kucoincom pic.twitter.com/iniH5jdyfg
— HappyBlock (@RealHappyBlock) April 12, 2022
