More Than $400 Million Worth of KCS Was Burned

2022/03/31 19:02:24

Dear KCS Holders,

KCS Management Foundation burned 20 million KCS on March 31, 2022. The total burned value is worth more than $400 million.

On March 29, KCS Management Foundation co-released the KCS Whitepaper with KuCoin and KCC. The Whitepaper elaborates on the vision and the future development of the KCS ecosystem. To better support the sustainable development of the KCS ecosystem, the KCS Whitepaper has disclosed the allocation plan for the 90 million KCS, which was unlocked by the founder team and initial investors. Details are as follows:

Out of the 65 million KCS held by the founders, 20 million will be burned, 20 million will be used as long-term incentives for contributors to the ecosystem, and 25 million will be donated to the KCS Management Foundation and will be linearly released over 5 years.

Accordingly, the 20 million KCS held by the founders was burned today, click to see further details:

https://explorer.kcc.io/en/tx/0x3be34b33216997ad286e448856631bf587e485fab174770f1db6245bb9ed3fc3

Circulating Supply of KCS is 98,379,860.

Current Total Supply of KCS is 145,879,860.

The circulation information of KuCoin Token (KCS) is subject to the KCC Chain.

Thanks for your support!

KCS Management Foundation