What is KuCoin Token?

KuCoin Token (KCS) is a digital asset native to the KuCoin platform, launched in 2017. It was initially issued as an ERC-20 token on the Ethereum network and is compatible with most Ethereum wallets. KCS is designed as a token that allows holders to derive value from the platform. The total supply of KCS was initially set at 200 million, with a planned reduction and burn until only 100 million KCS remain. As KuCoin's decentralized trading solution becomes operational, KCS aims to serve as the native asset of KuCoin's decentralized financial services and the governance token of the KuCoin community.

How does KuCoin Token work?

KCS operates as a utility token within the KuCoin ecosystem. It is utilized for trading fees on the KuCoin Exchange, providing users with discounts of up to 80%. KCS also allows participation in token sales on KuCoin Spotlight and LockDrop/BurningDrop on the Pool-X platform. Additionally, KCS holders can become KuCoin VIPs, unlocking reduced maker and taker costs without needing a large BTC trading volume. KCS can also be utilized for various services, such as shopping, hotel reservations, and purchasing gaming equipment.

What are the potential use cases for KuCoin Token?

KCS has a variety of potential use cases within the KuCoin ecosystem. It is used as a reward for users who hold more than 6 KCS, with the daily reward coming from 50% of KuCoin's daily trading fee revenue. This unique incentive mechanism aims to reward KCS holders and KuCoin ecosystem builders. The amount of benefits that users can receive depends on the number of KCS held and the trading volume of the KuCoin Exchange. As the KuCoin ecosystem evolves, KCS aims to be the underlying fuel and general token for future KuCoin decentralized products.

What is the history of KuCoin Token?

KuCoin Token was launched in 2017 by the KuCoin Exchange, a cryptocurrency exchange headquartered in Singapore. The exchange was co-founded by a team of individuals including COO Eric Don, marketing director Jack Zhu, president of business operations John Lee, operations and maintenance director Kent Li, chief legal consultant Linda Lin, CEO Michael Gan, and CTO Top Lan. The initial supply of KCS was set at 200 million, with a planned reduction and burn until just 100 million KCS remain. The circulating supply of KCS is at 80,118,638 KCS, with a maximum supply of 170,118,638 KCS.