KuCoin Will Execute a Temporary KCS Buy Back and Burn Plan
Dear KuCoin Users,
KuCoin will execute a Temporary KCS Buy Back and Burn Plan from July 1, 2019, through Q3, 2019, until the release of our new KuCoin Bonus plan. The platform will buy back and burn KCS from the market each week according to the total amount of KCS bonus distributed during the previous week. The quantity of KCS bought back and burned will be announced weekly, with the first announcement on July 8, 2019. The quarterly KCS buy back and burn plan, previously announced in the white paper, will not be affected.
According to the white paper, KuCoin will take at least a 10% profit of the quarter to buy back KCS from the market and burn. Therefore, the release of this Temporary KCS Buy Back Plan will result in a substantial increase to the overall burned KCS amount.
Thank you for your support!