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About KCS

What is KuCoin Token (KCS)?

KuCoin Token (KCS) is the native token of the KuCoin exchange which enables a profit-sharing model between the platform and its users. The total supply of KCS was initially set at 200 million, and there is a planned buyback and burn until just 100 million KCS remain. The KCS was originally an ERC-20 token based on the Ethereum network, incentivizing KuCoin users to enjoy a stream of passive income by holding it. It has been supported also by KCC or KuCoin Community Chain since its launch, the public blockchain built by KuCoin’s fan communities and holders of KCS.

The KCS token is an innovative way for KuCoin to share 50% of the platform’s trading revenue with holders of the token on the exchange. All KuCoin users who hold at least 6 KCS are eligible to earn a daily dividend of 50% of KuCoin’s revenues from trading fees. In addition to receiving rewards in the form of revenue sharing, KCS holders also enjoy fee discounts and the opportunity to participate in initial token offerings and other unique services offered by KuCoin.

Another important milestone for KCS is the development of KCC. KCS is used as the only fuel and native token for KCC and can be used to pay gas fees and support the development of projects built on KCC.

In March 2022, KuCoin co-released the KCS whitepaper together with KCS Management Foundation and KCC. After that, KCS will play a bigger role in scaling its adoption cases and empowering its Web3 building.

History of KuCoin Token (KCS)

The KuCoin Token was launched as an ERC-20 token on the Ethereum blockchain back in 2017. It was originally devised as a mechanism for profit-sharing between KuCoin and its users, encouraging crypto traders on the platform to enjoy a more valuable experience.

As one of the top 5 cryptocurrency exchanges around the world now, KuCoin started its operations in September 2017. Since then, it has gone on to service tens of millions of crypto traders looking to buy, sell and hold more than 600 different kinds of digital assets.

The KuCoin token was first established as a way for the exchange to share its revenues from trading fees with its users. From a utility token used to pay trading fees and access to the exclusive campaign within the KuCoin exchange, KCS evolved to be the key to the entire KuCoin ecosystem. With the rapid growth of KuCoin, KCS broke a new all-time high on December 1, 2021, reaching $28.8. And the release of the KCS white paper was followed by the direct burn of 20 million KCS on March 31, 2022, which accelerated the deflationary process of KCS.

As KuCoin started offering more services to its customers, the value and price of KCS also received more support. Let’s take a look at the use cases for KCS next.

What Can KCS Be Used For?

Here’s a list of primary use cases for KuCoin Token (KCS):

Trading Fee Discounts on KuCoin Exchange

KuCoin token holders get special discounts on trading fees and other associated costs within the KuCoin exchange. The percentage of discounts varies based on the number of KCS tokens held by the user. In addition, users can also use KCS to pay for transaction fees and enjoy a 20% discount.

Special Access to KuCoin Spotlight/BurningDrop

As KCS holders, users receive exclusive access to initial token offerings from new and upcoming projects featured on KuCoin Spotlight/BurningDrop.

Enjoy a KCS Bonus on a Daily Basis

To incentivize the KCS ecosystem builders and holders, holders with at least 6 KCS will enjoy a daily bonus coming from 50% of KuCoin's trading fees revenue. Therefore, how much bonus you will get depends on your holding volumes, as well as overall trading fee revenue from KuCoin.

Gas Fuel in KuCoin Community Chain (KCC) Network

The KCS coin also serves as the native asset in the KCC network. It is used to pay transaction fees or gas fees within this public chain.

Crypto Asset to Trade or Hold

As one of the top 100 cryptocurrencies by market cap, the KCS token is among the most valuable digital assets to invest in or trade. Crypto traders can choose to buy, exchange or HODL their KCS to grow their crypto portfolio.

Where to Buy KCS

The KuCoin Token (KCS) is listed on several leading crypto exchanges and DEXs worldwide. But of course, the best and easiest way to buy this crypto is via the KuCoin platform itself.

Here are the simple steps to follow to buy KCS on KuCoin:

1. Open Your KuCoin Account

Register for an account with KuCoin if you are a new user. Complete your KYC verification by following the steps listed after you log in to unlock all benefits.

2. Fund Your Account With Crypto

Convert your fiat currency into USDT using one of many convenient methods on KuCoin. Use our Fast Buy system to buy USDT using over 70 payment options, including Visa, Mastercard, SEPA and PayPal. You also have the option to buy USDT via KuCoin’s P2P service or from third-party sellers on the platform.

3. Use Your Existing Crypto to Buy KCS

KuCoin also supports trading with your existing cryptocurrency holdings. Simply transfer your digital assets from your wallet into your KuCoin account to add funds.

4. Trade KCS on KuCoin

Find the KCS/USDT pair on KuCoin’s Spot Trading section to buy some KCS. Review the KuCoin token price on the chart before placing your trade. Enter the amount of USDT you wish to exchange, check the transaction fees, and confirm your order. You can also check other KCS trade pairs to trade in a convenient way based on the asset type you have.

5. Store KuCoin Safely

KuCoin will process your trade order within a few minutes. Once the trade closes successfully, your trading account will receive the KCS tokens you purchase. You can choose to store them within KuCoin or transfer them to a secure external wallet for long-term holding.

FAQ

What is KCS Bonus And How to Calculate Your KCS Bonus?

KuCoin shares a portion of its revenues earned in trading fees with its users who hold a minimum of 6 KCS coins. The amount received, known as KCS Bonus, depends on the number of KCS you hold, the total amount eligible for a bonus, and the daily trading volume on the KuCoin platform.

You also have the option of converting small balances of cryptocurrencies (or dust) in your trading account into KCS. Check out each asset’s page to find out more on how to convert your small balances into KCS.

What is the Circulating Supply of KCS?

At the time of launch, the initial supply of the KCS token was 200 million. However, since its launch, KuCoin and KCS developers undertake buyback of the tokens from the market and burn a percentage of the supply on a monthly basis. The process is expected to continue regularly until KCS circulating supply reduces to 100 million in the crypto market.

What Affects KCS Price?

As one of the top cryptocurrencies by market cap, the KuCoin Token price experiences volatility due to numerous factors. Here are some of the key factors that drive the KuCoin token price action:

Market Sentiment

As the native token of one of the leading crypto exchanges in the world, the KuCoin Token price is heavily influenced by the mood in the crypto market. Positive sentiment among crypto traders will increase the trading volume on the KuCoin Exchange, driving up the current price and market cap of KCS. On the other hand, a bearish market sentiment keeps investors out of the market, bringing down the trading volume on the exchange and reducing the KCS price.

Developments in the KCC Ecosystem

Whenever KCC and KuCoin announce new features and services, there is a renewed interest among crypto investors in the KCS token. Adding new features to the exchange or announcing new products that will increase the use of the KCC ecosystem can make the KuCoin token more valuable as a digital asset to invest in.

KCS Burn Events

Whenever the KuCoin and KCC team burn KCS tokens, the deflationary process can make the remaining tokens in the market more valuable. A burn event that reduces the total supply of KCS almost always sends the KuCoin token price and market cap higher in the market.

Is KuCoin Token (KCS) a Good Investment?

As one of the top 100 digital assets based on its market cap, the KCS token already commands considerable attention among seasoned crypto investors. It is one of the most promising cryptocurrencies whose market cap can propel higher as more investors get interested in the crypto market. Since 2021, the KuCoin Token price has strengthened by more than 2,000%, powered by an increase in crypto trading around the world.

KuCoin is one of the largest cryptocurrency exchanges in the world, with a user base that runs into tens of millions. An uptick in the number of new investors entering the market can drive up the platform’s user base even higher, increasing its revenues and the KuCoin token price in turn.

The KCS token can also gain higher value in the future as the KCC ecosystem evolves and adds more decentralized applications.

As KuCoin’s operations scale and evolve further, KCS could turn even more lucrative as a digital asset to trade and HODL.

Upcoming Developments in the KCC Ecosystem

KCC is expected to become a key ecosystem for DeFi, gaming, Web3, and other applications in the coming months and years. KuCoin and its team are focusing on bringing in more developers to create exciting dApps in its ecosystem.

KCS will form the backbone of the payment system to power KCC-based Web3 applications. Some of the key areas of interest include decentralized identity management (DIDs), NFTs, and the metaverse.

In addition, there are plans to make the KCC even more scalable using innovative subroutines. Details on this can be found in the KCS white paper.

There are also plans for the KCS ecosystem to work with KuCoin and KCC to build a more scalable payment system in the future.

As KCS Management Foundation already finished the process of the 20 million KCS burn permanently. This will further accelerate the deflationary process of the cryptocurrency and support its value in the future.