What is Kucoin Shares (KCS)?

Sep 10, 2018 at 17:18

Kucoin Shares is a token for the Hong Kong-based, Kucoin crypto exchange wherein token holders earn from dividends. The exchange shares 50 percent of its overall trading fee revenue to users holding KCS.

The system works by transferring payout to users after the accounting team finishes evaluation of trading fees from each trading pair on the platform which usually occurs at 0:00 (UTC+8) everyday. Simply said, each coin holder may gain or lose various coins from their overall balance on the exchange.

Likewise, the coin is part of Kucoin’s goal to create an ecosystem where all users benefit as well as a platform that brings blockchain technology to people from all walks of life as it has numerous trading pairs including BTC, ETH, NEO, USDT, KCS and BCH.

Its system also boasts of a high-level privacy, asset and operational level security system based on bank standards which also enable superior efficiency compared to normal industry standards that leads to zero lags and delays.

Launched in October 2017, the Kucoin exchange as well as the KCS token is led by its chief executive officer and founder, Michael Gam who was a former technical expert at Ant Financial, an affiliate company of the Alibaba Group, one of the biggest conglomerates in China.

Kucoin aims to list over 1,000 cryptocurrencies in its exchange by the end of the year with a daily exchange volume of 100,000+BTC. By June 2019, its goal is to become one of the top ten cryptocurrency exchanges in the world.

Where to buy?
Kucoin Shares is only available for sale in its website. However, fiat currency is not accepted in buying KCS. Users should first deposit initial cryptocurrencies into their exchange wallet such as BTC, ETH, NEO,and/or BCH to trade for KCS.

Is it mineable?
KCS is not mineable as it can only be bought in the exchange. At present, the total supply of KCS is at 180,730,576 with 90,730,576 already in circulation.