Nano KuCoin Shares (KCS)

1.66000 USD 1 BTC
(0.01%) Last 24 Hour

Rank 9999 https://www.kucoin.com/#/

Market Cap
146118326.72
Volume (24h)
13377904.48000
algorithm
N/A
Proof Type
N/A

About KuCoin Shares

KuCoin Shares (KCS) is the native token of the KuCoin cryptocurrency exchange. KuCoin Shares is built on the Ethereum blockchain and follow the ERC-20 token standard. KCS token holders receive discounts on trading fees on the KuCoin exchange and also earn dividends. KuCoin is a Hong Kong-based centralized cryptocurrency exchange, founded in 2013 by Michael Gan and a team of cryptocurrency enthusiasts. Before KuCoin, Gan worked for Ant Financial (an affiliate company of the Alibaba Group), MikeCRM, and KF5.COM. After four years of development and testing, the KuCoin exchange officially launched in August 2017. In September 2017, KuCoin completed their ICO for KuCoin Shares and following the sale, created 200 million tokens. Participating investors received 50% of the total supply (100 million KCS). Founders were allocated 35% of the total supply (70 million KCS) subject to a four-year lock-up period. The last 15% of the total supply (30 million KCS) were given to early investors and consultants with a two-year lock-up period. KuCoin plans on buying back and destroying 50% (100 million) of the total token supply over time resulting in a long-term fixed supply of 100 million KuCoin Shares once the buyback is complete. According to the white paper, 10% of the quarterly profits generated from the KuCoin exchange will be used to buy KCS from the market to be burned. Buybacks are published to the KCS blockchain explorer, allowing users to audit and confirm that the program is running as it should be. All KuCoin Shares token holders with at least 6 KCS receive a dividend call “KuCoin Bonus.” At the end of each trading day, 50% of that day's trading fees are collected and used to buyback KCS from the market. This KCS is then distributed to KCS token holders based on the size of their holdings. In addition to the bonus, KCS holders receive a discounted trading fee, which (at the time of this writing) can be as low as 0.0125%. If a token holder reaches certain levels, they can qualify for special services like one-on-one investment consultation, customer service Fast-Pass, etc. KuCoin plans on launching a decentralized exchange in the future that utilizes the KCS token.