KuCoin is the native token of the KuCoin Community Chain (KCC)

  • KuCoin Token (KCS) is the native token of KuCoin Community Chain (KCC).

  • KCS offers its holders discounts on transactions, the possibility of daily passive income and other bonuses.

  • KuCoin redeems and destroys KCS monthly using 10% of its earnings.

There is nearly $50 million of TVL on KCC, with many DApps emerging.

What is KCS?

KCS is a utility token native to the KuCoin platform. Launched in 2017, KCS has several uses to its bow for holders. First, a merchant using the token to pay gas fees will receive a 20% discount. A user who holds more KCS will also receive more benefits, while bonuses are available and are anchored to both holdings and trading volume of the larger KuCoin exchange.

KCS are basically a bet on the KuCoin exchange. If the KuCoin exchange grows, the price of KCS is also likely to skyrocket. KuCoin is the third largest exchange according to CoinMarketCap. More than 8 million users in 207 countries and jurisdictions around the world access KuCoin’s services, including hundreds of digital assets and cryptocurrencies.

The range of products offered is extensive, including spot trading, margin trading, P2P fiat currency trading, futures trading, staking and lending. KuCoin also announced $20 million in funding in November 2018, with participation from IDG Capital and Matrix Partners.

KuCoin also buys back KCS on the secondary market every month using 10% of platform revenue. These purchased KCS will be destroyed, making the offer more flexible. KuCoin has already achieved 27 token destructions.

Finally, to better support the development of the KCS ecosystem, EIP-1559 and the KCC fee mechanism (base fee + priority fee) will be introduced into the KCS deflation mechanism. Thus, gas charges will dynamically adjust based on KCC network congestion.

KCS is listed in multiple places including Kucoin, MXC, Poloniex, Probit, AscendEX (formerly Bitmax).

Spotlight & Burningdrop

By holding KCS, investors obtain the right to participate in the token sale on KuCoin Spotlight, which is the launch platform for tokens on KuCoin.

KuCoin Spotlight has launched more than 20 projects, with highlights like CWAR and HOTCROSS.

Second, BurningDrop is a fair token distribution platform that has supported the distribution of tokens from a wide range of blockchain startups, which KCS holders can participate in. By locking or designating crypto-assets, users can increase their computing power for additional token distribution.

KuCoin Community Chain

The KCS token is the fuel on which the KuCoin community chain runs. KCC operates through a PoSA (Staked Authority) consensus mechanism, boasting solid performance, high throughput, low transaction costs, low latency, and strong security and stability. In addition, the PoSA makes it possible to maintain the block confirmation duration at 3 seconds.

The TVL on the channel currently stands at around $50 million, and the number of wallet addresses is over 300,000.

KCC focuses on the following areas:

  • Building a blockchain toolchain

  • Connect the centralized and decentralized part

  • Build an open development platform

  • Build an autonomous decentralized community

  • Build cross-chain interoperability protocols

  • Increase capacity to handle the extra load

DeFi, NFTs, Web3 projects and games are also areas that the KuCoin ecosystem has its sights set on.

KCS Management Foundation

The KCS Management Foundation is responsible for the development, decision-making, investment and application of KCS and is currently working on research and development of various centralized and decentralized applications.

Going forward, 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 protocols and tools. efficient, self-reliant and community-based and will gradually remove power from the KCS Management Foundation.

Eventually, the GoDAO community will take over management completely.

Other use cases and the future

KCS can also be used to purchase a wide variety of goods and services online and offline. Domains containing merchants and digital payment providers that support this token include online shopping, hotel reservations, and online gaming.

For KCS to achieve its goal, it must work together with KuCoin Exchange and KCC to develop a payment system that can serve its users across the globe. This payment system should connect all projects to the KCS ecosystem. It is also expected to be involved in a myriad of transactions such as derivatives trading, new coin launches, stablecoins, loans, NFT transactions, and KCC ecosystem transactions.



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KuCoin is the native token of the KuCoin Community Chain (KCC)


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