These are the latest news about the KCS Token, owned by the KuCoin exchange:
On December 1, KCS broke its historical price record by reaching US $ 28.77. KCS is the native token of KuCoin and is one of the few CEXs with which you can obtain passive income. Holding at least 6 KCS, you can generate a daily KCS bonus which comes from 50% of the daily income of KuCoin. Another advantage of using KSC is that it allows you to obtain discounts of 20% in trading commissions, participate in Spotlight (IEO) and Burningdrop (a new launchpool product), book a trip in Travala and more.In the same way as the public chain KCC token, KCS will be the fuel to power onchain transactions, the extraction of liquidity and more. KCC’s TVL is approaching US $ 40 million with many emerging dApps interested. Compared to other CEX tokens, KCS is the best broker with a 33x rise in price since the beginning of the year.
1. What is KCS?
KCS is the native token of KuCoin which was launched in 2017 as a utility token that allows traders to share in the growth benefits of the exchange. The total KCS supply was set at 200 million and there is a planned buyback and burn until only 100 million KCS remain.
2. How is KCS related to KuCoin?
As a native token of KuCoin, the value of KCS is strongly related to that of the exchange platform KuCoin.
KuCoin is an international cryptocurrency exchange for numerous digital assets and cryptocurrencies. Launched in September 2017, KuCoin has become one of the most popular crypto exchanges. Currently, it offers Spot, Margin, Fiat P2P, Futures, Staking and Lending trading operations for its 8 million users in more than 207 countries and regions around the world.
Known as ‘The People’s Exchange’, KuCoin offers its users 24/7 customer support services in multiple languages. In addition, KuCoin has established around 19 local communities in North America, Europe, SEA and other regions, providing users with highly localized services.
As the home of crypto gems, KuCoin has supported some 600 projects with more than 1,000 trading pairs. A significant number of promising projects such as BLOK, KDA, ZKT and MOVR had a main listing on KuCoin.
In November 2018, KuCoin announced a 20 million (USD) round A financing from IDG Capital and Matrix Partners. According to CoinMarketCap, KuCoin is currently the third largest cryptocurrency exchange. In 2021, Forbes Advisor named KuCoin as one of the best crypto exchanges.
As a KCS holder, you will be able to get a daily KCS bonus that comes from 50% of the daily income of KuCoin. Thus, as KuCoin grows, the daily KCS bonus will grow simultaneously.
3. What is the KCS Bonus?
The KCS Bonus is a unique incentive for KCS holders and for ecosystem creators on KuCoin. It is also considered one of the best ways to earn passive income. Users who own at least 6 KCS can get a daily bonus, which comes from 50% of the daily commission income in KuCoin. The amount of rewards that users can get depends on the amount of KCS reserves and the trading volume of the Exchange KuCoin.
4. How is KCS related to Spotlight?
KCS holders can participate in the token sale on KuCoin Spotlight. KuCoin Spotlight is a platform serving early stage crypto projects and their token distribution. KuCoin users can participate in early investment of their preferred projects through Spotlight and earn profit from it.
Based on historical data, KuCoin has launched 14 Spotlight projects with the highest ROI above 2763%. To name a few, LUKSO has achieved a 122-fold increase in the price of the token and the PDEX price increased 114-fold. Take VR as an example, now the price of VR is $ 0.468. And the sale price of the Spotlight token is US $ 0.00295. If you had participated in the sale of the VR token on Spotlight at that time, your investment income would have multiplied more than 100 times.
5. How is KCS related to Burningdrop?
KCS holders can join BurningDrop. Burningdrop is a fair token distribution platform and has been supporting token distribution from a wide range of blockchain startups so far, including HORD, TCP, LOCG, LNCHX, XCAD, etc. Users can access the project token by blocking a designated amount of crypto assets. Additionally, users can designate tokens to increase their computing power for further token distribution. To date, the average ROI of projects that were listed through BurningDrop is over 3,814%.
6. How is KCS related to KCC?
Another important milestone for KCS is the development of KCC, which is a decentralized public chain built by KCS fans and KuCoin fan communities. KCS is used as the exclusive fuel and native token for KCC and can be used to pay gas fees.
KCC is a high-performance decentralized public chain. It features high performance, low latency, low transaction costs, as well as satisfactory security and stability. Additionally, it aims to improve on-chain processing power and performance with the Proof-of-Stake Authority (PoSA) consensus mechanism by reducing the block commit time to 3 seconds. Adopts KCS as on-chain gas tariff to reduce overall transaction costs. By developing “faster transaction confirmation speed,” “higher transaction throughput,” and “lower transaction fees,” KCC aims to provide faster, more convenient, and lower-cost experiences for community users.
The number of KCS addresses grew steadily during 2021. We have seen a positive impact on holder growth after the launch of the KCC mainnet in June. The growth of KCS addresses on KCC’s public chain contributed 45% of overall growth this quarter.
According to KCC Discover, the TVL at KCC is close to US $ 40 million with emerging projects such as Mojitoswap and Kuswap.
7. What is KCS burn?
KCS tokenomics is deflationary. The KCS team is executing the KCS buyback and burn regularly. Since January 2021, in order to speed up the KCS burn process and adapt to market development more efficiently, the KCS team decides to adjust the KCS buyback and burn period from quarterly to monthly. So far, KCS has completed 11 burns this year. A total of 3,313,482 KCS have been burned, which equates to $ 37 million.
8. Where has KCS been included?
KuCoin is the largest of the markets for KCS with an average daily volume of 20 million. KCS ‘liquidity continues to improve as KCS has been listed on exchanges including KuCoin, MXC, Poloniex, AscendEX (formerly Bitmax), and Probit.
9. What are the other use cases for KCS?
KCS is a payment method. In addition, it has a significant number of use cases in daily life. You can shop online, reserve a hotel room, and play games through KCS. More KCS usage scenarios are listed below.
SwirlPay, a decentralized payment service that supports payments on KCS.PlayGame, a direct-to-play gaming platform that allows users to play with KCS.KCS can be used for hotel reservations on Travala, the leading travel and reservation platform of hotels on the Blockchain. Buy trendy products on Print-ted with KCS. KCS is able to support various online and offline payment scenarios with Pundi X. Use KCS to buy monster card packages on Splinterlands. Put KCS under guarantee to borrow in US dollars (USD) and Vietnamese dong (VND) on Constant.CoinPayments, a borderless online payment platform, accepts payments on KCS.BetProtocol, added KCS as the main token used in its gaming applications.