KuCoin KCS Whitepaper And Token Burn News – Cryptonews

Disclaimer: The following article is part of Cryptonews Deals Series and was written as a promotional article in collaboration with the sponsor of this offer. If your company has an exclusive promotion that you would like to share with our readers, we invite you to reach out to us. Let’s build together.

You may have heard of KuCoin Shares (KCS), the native token of cryptocurrency exchange KuCoin. But if you’re interested in owning it, especially if you want to know how you, as a potential owner, can benefit from this token, KuCoin has made it easier than ever: by publishing a KCS Whitepaper, together with the KCS Management Foundation, that outlines exactly what the future holds in store for KCS. Don’t worry, we’ll give you a rundown of everything important here — and if you’re still not convinced, we may just help you change your mind.

What Does the KCS Whitepaper Bring?

In short, the KCS whitepaper brings one much-needed thing to the space: clarity. But to be precise, let’s go through all the news outlined there so you can immediately find what you want to know (but be sure to read the original for full details).

The first, and arguably most important, thing that the whitepaper addresses is the distribution plan of the 90m KCS that are currently in lock-up. This includes a token burn of 20m KCS — permanently, as part of their strategy to drive up the value of the remaining KCS tokens. Out of the 25m KCS held by initial investors, 18m will be slowly released over a period of five years, while the remaining 7m will be donated to the KCS Management Foundation. The burned amount comes from the total of KCS 65m belonging to the founding team; KCS 20m will be used as long-term incentives for contributors, while KCS 25m will be donated to the Foundation and gradually released in 5 years.

Generally speaking, token burning is an activity most often used for deflationary purposes, to either keep the value of a token at the same level — evading inflation, in other words — or even to increase its value. There is no telling which of these might happen (if there were, getting rich would be much easier than it is!), but in the case of KCS, the token itself has seen a 2,000% increase since the beginning of 2021. At the time of writing, it was trading at USD 21.42 per token, having reached its all time high in December 2021, when it rose up to USD 28.80. 

That’s Not All There Is!

While tokenomics tend to be the part traders and/or holders are most interested in, they’re far from the only aspect addressed in the new whitepaper. There is also a plan outline of what the KCS Management Foundation will be up to: as the governing entity responsible for the development, decision making, investment, and applications of KCS, it aims to ultimately help progress the advancement of all decentralized technologies. As of right now, it covers research, funding, investment, incubation, and resource integration of the various projects it supports, making it an invaluable resource for up-and-coming projects in the ecosystem.

Ultimately, the KCS project wants to build a blockchain-based value self-circulation ecosystem, serving as a bridge between the centralized and decentralized world by connecting KuCoin and the KuCoin Core (KCC) community. With the goal of true decentralization in mind, the KCS Management Foundation will be replaced by the KCC GoDAO in the future.

Is your interest piqued, but you’re not yet sold on joining this ecosystem? Read our review of the KuCoin platform and make your own call!

Win a welcome gift of up to 500 USDT!

Good news for new KuCoin users. If you opened an account on KuCoin after June 27th, 2021, you qualify for a welcome gift.

Each new user gets to open a mystery box which can contain up to 500 USDT! And there will be no losers since each participant is guaranteed to win something. The bonus amount is randomly generated and will be immediately credited to the user’s account.

To participate in this raffle, all you need to do is make a first deposit or transfer of more than 50 USDT.

Be aware that the bonus earned can only be used for trading and cannot be withdrawn.

More information here!