KuCoin and the KCS Management Foundation Jointly Release the KCS Whitepaper

2022/03/29 10:00:15Announcements

Dear Users,

We are pleased to announce that the KCS Management Foundation, KCC community, and KuCoin have jointly released the KCS Whitepaper on March 29, 2022. 

The KCS Whitepaper provides detailed explanations and bold prospects for the future development, governance, token redistribution, value capture and deflationary mechanism, and self-circulating ecosystem of KCS. The Whitepaper outlines the importance of KCC to further expansion of the KCS ecosystem and includes major plans for the future development and partnership strategies of KCC. 

Highlights of the KCS Whitepaper:

The KCS Management Foundation will serve as the entity responsible for the development, decision-making, investment, and application of KCS. With the positive development of the KCS ecosystem, the transition towards an autonomous governance structure for the KCS ecosystem will be realized, until management and development are completely handed over to the GoDAO community. 

The KCS Whitepaper also clarifies the redistribution plan for the 90 million tokens held by the founders/teams and advisors/early investors. Of the 65 million KCS held by the founding team, 20 million will be burned, 20 million will be used as long-term incentives for KCS holders and ecosystem contributors, and 25 million will be donated to the KCS Management Foundation to be released over a period of 5 years. Of the 25 million held by early investors, 7 million will be donated to the KCS Management Foundation to be released over a period of 5 years, while the other 18 million will be released to the early investors over a period of 5 years.  

The KCS ecosystem will focus on enriching the KCC public chain ecosystem, working with the KuCoin exchange and KCC public chain ecosystem to construct a payment system, developing a Web 3.0 ecosystem, and further enhancing and expanding KCS.  

KCS aims to construct a blockchain-based value self-circulating ecosystem that allows KCS, KuCoin, and KCC community members to quickly access services and obtain incentives through a wide range of application scenarios built into the system. More information can be found on the KCS Whitepaper . To celebrate the release of the KCS Whitepaper, a KCS Super Week event is about to kick start! Please stay tuned! 

The KuCoin Team