KuCoin Shares (KCS) is the native token of the KuCoin cryptocurrency exchange. It was launched in 2017 to serve as a profit-sharing token for traders to draw value from the exchange. KuCoin Shares are ERC-20 tokens that run on the Ethereum network and are supported by most Ethereum wallets. KCS has a fixed supply of 200 million tokens. However, KuCoin plans to buy back and burn 100 million of these tokens.
In the future, when the KuCoin decentralized trading solution goes live, KuCoin Shares will be used as the native asset. KCS will be both the governance token for the KuCoin community and the native asset of KuCoin’s decentralized financial services.
According to KuCoin, KCS will help to diversify the numerous benefits that holders can access on the KuCoin platform. With time, KCS will become the key to the whole KuCoin ecosystem.
The development of DEX and KuCoin is underway, and KCS will be the foundation of all future KuCoin decentralized products.
Why is KuCoin Special?
KuCoin provides a simple way for traders to earn passive income while also enjoying several other rewards. Also, KuCoin will give you up to a 20% discount on trading fees if you use KCS to pay. Imagine saving your coin on the KuCoin exchange and getting interest from it. Another interesting fact is that KCS has a fixed supply. Therefore, the value is expected to rise due to scarcity.
Uses of KuCoin Shares (KCS)
Although KCS is paid as a dividend to KuCoin exchange users, it is also a utility token. So, you can use the coin to pay for trading fees on the KuCoin platform. Also, KCS is the ticket for traders to participate in a token sale on KuCoin Spotlight. As a KCS holder, you can become a KuCoin VIP. You can also use the token as a payment method when you make hotel reservations, go shopping, etc.
KuCoin Shares is a nice means for investors to make some extra on top of their crypto investments. However, the volatility of the crypto market cannot be pushed aside. So, you have to do your due diligence before investing your money.