Review on KuCoin Shares by Huseyn Akberov

What is Kucoin?

KuCoin is a global cryptocurrency exchange headquartered in Singapore. It was launched in August 2017 and has offices in Southeast Asia and China. Since its launch, KuCoin has achieved significant growth and quickly became one of the most popular altcoin exchanges.

As we all know, the exchange is a competitor of Binance. It's beginner-friendly, has a powerful API, lots of altcoin markets, and huge incentives. For example, up to 90% of all transaction fees are returned to community members. One of the incentives is the shares of KuCoin (KCS).

What is KuCoin Shares (KCS)?

KuCoin Shares (KCS) is an Ethereum ERC20 token, which can be used exclusively on the KuCoin exchange. A total of 200,000,000 KCS were issued through crowdfunding, of which almost 90,000,000 are in circulation. Every quarter, KuCoin will use 10% of your income to buy back and burn KCS tokens until only 100,000,000 are left. KCS holders receive the following benefits:

Receive daily cryptocurrency dividends, equivalent to 50% of the transaction fees charged.

Get a discount on transaction fees.

You can trade additional trading pairs, including BTC, ETH, LTC, USDT, XRP, NEO, EOS, CS, GO.

Fastpass customer service.

Get the benefits and exclusive discounts of KCS members. How does

KuCoin (KCS) stock work?

The most important thing is that KuCoin users get a part of the exchange's daily income by betting on KCS. These payments directly reflect the success of the exchange in terms of trading and trading volume. The more transaction fees the platform charges, the higher the daily reward pool. The amount of dividends paid is proportional to the KCS held.

For example, if you have 10,000 KCS and the exchange charges a transaction fee of 20 BTC (0.1% of daily trading volume), you will get 0.001 BTC converted to KCS (20 * 50% * (10000/100000000)) every payments They are calculated for each pair of tokens listed on KuCoin, and are paid primarily in KCS, but sometimes other altcoins as well. The bonus will occur automatically at 02:00 (UTC +8) every day and it may take up to 24 hours to receive the bonus. The only requirement for

to be eligible for the bonus is:

users must have at least 6 KCS for at least 24 hours.

users must activate their 2FA account. Another advantage of

KCS tokens is that they can get discounts on transaction fees. You must get at least 1000 KCS at a discount of 1%, and the maximum discount of 30,000 KCS is 30%. The system will take a snapshot of the KCS held by the user at 00:00 (UTC +8) every day to calculate the applicable discount rate.

KuCoin Shares Token Burn

The daily distribution and reward payment of KCS tokens will eventually lead to the inflation of KCS tokens. KuCoin conducts KCS repurchase and token destruction every quarter to deal with it. KCS is like this: Every quarter, at least 10% of the exchange's net profit is used to buy back KCS. Tokens recovered by buyback will be destroyed immediately. The process can be observed using a blockchain browser. The token recording process will continue until there are only 100,000,000 KCS left. As of February 2019.