What is KuCoin Shares (KCS)? Things to know about KCS

• What is KuCoin Shares?
• Overview of the ecosystem revolving around this coin
• The difference of KuCoin Shares (KCS)
• Benefits of holding KCS
• Project team and partners
• Development roadmap
• KCS . details
• Some basic information of KCS
• KCS . Allocation
• Functions of KCS
• KCS . Allocation Schedule
• The potential of KCS
• summary

What is KuCoin Shares?

If Binance has Binance Coin as the native coin of the exchange and BSC ecosystem, then KuCoin also owns a coin with a similar function. That is KuCoin Shares (KCS), it acts as both an exchange coin and a native coin of the KuCoin Community Chain (KCC) ecosystem.

In 2017, KuCoin Shares was launched together with the KuCoin exchange. Initially, KuCoin Shares was built on top of Ethereum 's blockchain under the ERC-20 standard. After it launched its own blockchain, KuCoin Shares started to switch to using the KuCoin Community Chain. 

Overview of the ecosystem revolving around this coin

What does the ecosystem around KCS include?

Its ecosystem consists of two products: KuCoin Centralized Exchange and KuCoin Community Chain platform.

As mentioned, KuCoin was born in 2017, so far it has always been in the top 10 exchanges with the largest trading volume in the Crypto market. At the beginning of 2022, KuCoin has recorded more than 10 million users and accumulated trading volume of hundreds of billions of USD.

KuCoin Community Chain can be understood as a blockchain like Solana , Terra… The projects on this chain are also quite diverse in fields, such as DEX, NFT storage wallet, DAO…

The difference of KuCoin Shares (KCS)

The liquidity of KCS is relatively large, as it has created a separate market. This means that investors can use KCS to buy and sell other coins/tokens on KuCoin at any time. If investors use KCS to trade other coins/tokens, they will receive a 50% discount on transaction fees.

KuCoin Shares Tokenomics has a coin burning mechanism, so the current total supply of KCS is 145,879,861 KCS, which has significantly decreased from the initial total supply of 200,000,000 KCS, and the goal of the platform is to shrink the supply. 100,000,000 KCS remaining. This will help the value of KCS to rise to a higher price. The coin burning mechanism is similar to Binance Coin, so many investors expect the price of KCS to increase even more in the future.

Benefits of holding KCS

Users holding KCS will get:

• Depending on the number of KCS that investors are holding, they will be upgraded to VIP. The higher the VIP rank, the greater the discount.
• Get rewarded for what users contribute to KuCoin. The amount of KCS set aside for the reward will be redeemed from a portion of the KuCoin trading fees collected.
• KCS is used as a means of payment on KCC.
• A part of the transaction fees collected by KuCoin will be used to buy back KCS and burn them.

Project team

The goal of the development team of KuCoin and KuCoin Shares is to provide users with low-cost, more secure crypto-asset swap and exchange services. 

CEO – Michael Gan: He is a former technical expert at Ant Financial – a company under Alibaba group. Michael Gan is a person with many years of experience in developing financial solutions and was a senior partner of MikeCRM, KF5.COM.

COO – Eric Don: He is a senior Internet researcher and system architect. He used to be technical director and senior partner of many famous information technology companies.

CTO – Top Lan: He is a technical expert in the open source community. Top Lan is also the manager of many open source projects on Github and the designer and implementer of KuCoin's system.

Development roadmap

Q1/2022

• More than 20 KuCoin global communities have set up the KuCoin Wallet Custody System 3.0 to go live.

Q2/2022

• KuCoin Matching Engine 3.0 will work on a decentralized trading account with 5% of the trading volume on KuCoin

Q3/2022

• KuCoin Futures Trading System 2.0 and Portfolio Margin for KuCoin Futures will go live

Q4/2022

• KuCoin will reach a daily trading volume of more than 15 billion USD
• Growth in the number of decentralized trading accounts, with 10% of the trading volume on KuCoin
• Reach more than 400,000 KCS . addresses
• Bringing KCS into the top 30 coins with large market capitalization of Crypto market
• Serving 25,000,000 people worldwide
• Reach 1 million followers on Twitter

2023

• Established more than 30 KuCoin communities globally
• Decentralized trading accounts account for 20% of trading volume on KuCoin
• Reach more than 1,000,000 KCS . addresses
• Bringing KCS into the top 15 coins with large market capitalization of Crypto market
• Reach more than 1.5 million followers on Twitter
• KuCoin launches new roadmap
• In addition, KCS will further develop the payment array to serve hundreds of millions of users, as well as the Web 3.0 ecosystem.

KCS . details

Some basic information of KCS

• Ticker: KCS
• Blockchain: Ethereum, KuCoin Community Chain
• Token Type: Utility
• Total Supply: 145,879,861 KCS (May 10, 22)
• Circulating Supply: 98,379,860 KCS (May 10, 22)

KCS . Allocation

Initially, KCS is distributed proportionally as follows:

• Early Participants: 50%
• Founder & Team: 32.5%
• Advisors & Investors: 12.5%
• Market & Community Rewards: 5%

However, at the end of March 2022, the time to lock the coins of Founders, Teams, Advisors and Investors was extended and reallocated KCS as shown below.

Functions of KCS

In the KuCoin ecosystem, KCS can be used to:

• Paying transaction fees on KuCoin, allowing users to enjoy 20% discount. 
• Participate in the token sale event on KuCoin Spotlight, as well as LockDrop/BurningDrop on the Pool-X platform.

KCS also has a lot of use cases with the checkout feature, such as:

• SwirlPay: This is a decentralized payment service that supports KCS payments.
• PlayGame: This is a live gaming platform that allows users to play games with KCS.
• Buy monster card packs on Splinterlands.

• KCS can be used to book hotels on Travala – the leading blockchain travel booking platform.
• KCS can serve online/offline payments through Pundi X. 

KCS . Allocation Schedule

According to the original plan, the amount of KCS of Founders, Teams, Advisors and Investors will be paid off. However, these target groups all decided to extend the KCS lock time and reallocate as mentioned above. The amount of KCS for Foundation and Investors will be paid in installments over 5 years, starting from Quarter 1, 2022.

For 25,000,000 KCS held by original investors: 

• 18,000,000 KCS will still belong to the original investors, unlocked gradually over 5 years.
• The remaining 7,000,000 KCS is donated to KCS Management Foundation to develop the ecosystem.

For 65,000,000 KCS held by the founding team:

• 20,000,000 KCS will be burned forever to accelerate KCS deflation.
• 20,000,000 KCS is used as a reward for KCS holders and ecosystem contributors.
• The remaining 25,000,000 KCS will be donated to the fund and unlocked in 5 years.

The potential of KCS

KCS is backed by one of the most reputable and secure exchanges in the cryptocurrency market – KuCoin. Besides, this coin plays an important role in the entire KuCoin Community Chain ecosystem and KuCoin exchange.

However, the KuCoin Community Chain ecosystem does not seem to focus on developing the necessary pieces of DeFi. This reduces the use cases of KCS. 

In return, KCS functionality is fully utilized on the KuCoin exchange, including payment of transaction fees, access, participation in Spotlight token sale events, and many other applications mentioned above. This may also contribute to an increase in the demand for KCS, helping the value of this coin increase as well.  

At the moment, the cryptocurrency market is in a recession and shows no signs of stopping. If investors want to buy and hoard KCS to be able to experience all the useful features of KuCoin with the most favorable fees, they need to wait for the market to stabilize again and show signs of reversing the downtrend. at now. 

summary

Above is the basic information about the KuCoin Shares coin of the KuCoin exchange and the KuCoin Community Chain ecosystem. Overall, with 5 years of operation, we can see that KuCoin has a certain position in the cryptocurrency market. 

Besides, KuCoin knows how to promote value for its original coin, KCS, helping KCS to enter the top 100 coins with large capitalization in the cryptocurrency market. Along with that is the demand to buy and hoard KCS to participate in attractive programs and events of KuCoin, which is gradually increasing sharply, leading to an increase in price in the near future.

However, any investment has risks, so investors need to do thorough research before investing in any coin/token and KCS is no exception.

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