KuCoin Shares (KCS)
Posted on April 1, 2018
Kucoin is a Crypto Exchange based in Hong Kong and hosted on Amazon Web Service. Kucoin is also known as “The People’s Exchange” because they strive to reward their users that trade on the Exchange.
Kucoin Shares are the Exchange’s ERC20 Tokens. You get rewards for holding KCS on the Exchange. Another function of KCS is to reduce transaction fees; for every 1000 KCS you get a fee discount ranging between 1% and 30%.
- All accounts are subject to two-factor authentication
- Holding KCS rewards you daily and gives discounts on trading fees
- Founders own 35% of all tokens
- KCS is only traded on KuCoin
- Since you get rewards based on your amount of KCS, the more expensive they become, the less interesting it is to buy them
- KCS has no utility except for awarding dividends, which makes it a security in the eyes of the SEC
The exchange has been up since Q4 2018.
2018.06: Cryptocurrency pair self-releasing feature available
A portion of the trading fees (currently 37%) are distributed to KCS holders proportionally and daily.
KCS holders can vote for which coin they want to have added to the exchange.
KuCoin is similar to Binance because they are both centralized exchanges with their own token that can be used to vote on what coin will be added to the exchange.
Except for the coins listed on its exchange, Kucoin has no notable partnerships.
KCS is only traded on Kucoin.
Even though KCS is only used to pay fees on the exchange without any interaction with the Ethereum blockchain, KCS are ERC-20 tokens that can be sent across the Ethereum network.
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This document is intended for informational purposes only. The views expressed in this document are not, and should not be construed as, investment advice or recommendations.