KuCoin Token KCSPrice $ 10.32

KuCoin Token (KCS) is the native currency to the KuCoin exchange. It is an ERC20 token that was launched in 2017 and functions as a utility token. KuCoin plans to make the token the native asset of KuCoin’s planned decentralized trading solution, as well as become the governance token of the KuCoin community in the future.

KCS has a circulating supply of 80,118,638 KCS, and the exchange routinely rewards KCS holders with daily bonuses. The initial total supply was 200 million, however the implementation of the platform’s token burning strategy has lowered this number. KuCoin’s buyback and burn strategies will continue until there are only 100 million tokens are left.

What are KuCoin Token’s key features and how does it work?

KuCoin is a global crypto exchange that currently provides a variety of services for traders. These include spot trading, margin trading, P2P fiat trading, futures trading, staking, and lending. It has users in 207 countries and regions around the world. At the centre of the KuCoin ecosystem lies its token, KCS. It will function as the underlying fuel and native token of all KuCoin decentralized products.

The KuCoin exchange tends to list small-cap cryptocurrencies that have large growth potential. As such, it offers traders acces to a large range of tokens, including lesser-known coins. It also offers a relatively generous profit-sharing incentive - up to 90% of trading fees are returned to KCS holders. 

What is noteworthy about KuCoin Token?

KuCoin Token has a unique bonus plan for its traders making the asset noteworthy. This is known as KCS Bonus, and is an incentive system for KCS holders and KuCoin ecosystem builders. 

Users who hold at least 6 KCS are entitled to a daily bonus, which comes from 50% of KuCoin’s daily trading fee revenue. The amount of rewards that users can get is determined by the number of KCS held and the overall trading volume on the KuCoin Exchange. As such, as trading volume on KuCoin increases, users will gain higher rewards.

What can KCS be used for?

As previously mentioned, KCS is a utility token and therefore it has a number of use cases. In the KuCoin ecosystem, KCS can be used to pay trading fees on the KuCoin Exchange, allowing users to receive discounts of 20%. 

KCS can also be used as a means for participation in token sales on KuCoin Spotlight, as well as LockDrop/BurningDrop on the Pool-X platform.

Additionally, KCS can be used as a payment method for the following:

• The SwirlPay decentralized payment service;
• PlayGame, a direct-to-play gaming platform;
• To make hotel reservations on Travala, a leading blockchain travel booking platform;
• Various offline and online transactions via Pundi X;
• To buy monster card packs on Splinterlands;
• The CoinPayments borderless online payment platform.

Where can you buy KCS?

KCS can be bought on different exchanges. Naturally, KuCoin is the most popular with the highest trading volume.