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.