Kucoin is one of the oldest exchanges in Crypto. In addition to being a token exchange, Kucoin also has an ecosystem of Kucoin Community Chain with the token being Kucoin Shares. So what is Kucoin Shares? What is the function in Kucoin exchange and Kucoin Community Chain? You read the article to understand better about Kucoin Shares.
What is Kucoin Shares?
Kucoin Shares (or KCS) is a token of the KCS ecosystem, including the Kucoin exchange and Kucoin Community Chain (KCC).
Overview of the KCS . ecosystem
KCS consists of two products: Kucoin Centralized Exchange and KCC.
Kucoin was born in August 2017, and since then it has always been in the top 10 exchanges with the largest 24-hour trading volume in Crypto. By January 2022, Kucoin had over 10 million users, as well as a cumulative trading volume of hundreds of billions of dollars.
KCC can be understood as an ecosystem on Blockchain like Solana, Terra,… The projects on KCC are working on decentralized exchanges, wallets, healthcare, NFT, DAO,…
Benefits of holding KCS tokens
Users holding KCS will get:
- Upgrade VIP depending on the number of KCS available. The higher the rank, the larger the transaction fee reduction.
- Rewards are based on what users contribute to Kucoin. This bonus KCS will be redeemed from a portion of the Kucoint transaction fees collected.
- Pay fees on KCC.
In addition, KCS has a deflationary mechanism where a part of the redemption transaction fee is used by Kucoin to burn.
Project team, investors & partners
Roadmap & Updates
KCC will develop through 3 phases:
- Increase gas limit to 500M.
- Develop some technologies such as StormingEVM, LightningADS, RainingDB.
- Infrastructure development.
- Build Layer-2
- KCC SDK development.
In addition, KCS will further develop the payment array to serve hundreds of millions of users, as well as the Web3 ecosystem.
KCS Token details
- Token Name: Kucoin
- Ticker: KCS
- Blockchain: Ethereum
- Token Standard: ERC-20
- Contract: 0xf34960d9d60be18cc1d5afc1a6f012a723a28811
- Token Type: Utility
- Total Supply: 200,000,000 KCS
- Circulating Supply: Updating…
Below is the initial token allocation with 200M KCS.
- Early Participants: 50%
- Founder & Team: 32.5%
- Advisors & Investors: 12.5%
- Market & Community Rewards: 5%
But at the end of March 2022, Founder, Team, Adviosors and Investors all decided to extend the lock period of their tokens (90M KCS), and reallocate KCS as follows:
Token Release Schedule
As originally planned, the KCS of important parties such as Founder, Team, Advisors and Investors have all paid off. But all of the above members decided to lock more and reallocate as mentioned above.
Allocations for Foundation and Investors withheld (Holdings) will be amortized over 5 years, starting from Q1 2022.
How to earn and own KCS
You can buy on the exchange, or hold KCS to receive the distribution of KCS bought back from Kucoin.
Wallets & Exchanges
KCS token is an ERC-20 token, you can store it on Techtipsnreview Wallet with the following simple operation:
Step 1: At the main interface, select Receive.
Step 2: Enter KCS in the search box.
Step 3: Copy KCS wallet address and send KCS token to this address.
KCS is being traded at Kucoin as the main, in addition to Uniswap V3. You can Swap through the Swap section at the end of the post
Information channels of Kucoin
Above is the latest information about Kucoin Shares that I have updated, do not forget to follow Coins & Tokens column of Techtipsnreview Insights to get the fastest updates on detailed information about hot projects and coins/token. Best in the Crypto market!
Source: What is KuCoin Shares (KCS)? KCS Cryptocurrency Complete