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Everything you need to know about the KuCoin KSC Token – CVBJ

Everything you need to know about the KuCoin KSC Token – CVBJ
Written by publisher team

Here is the latest news about KCS Token, owned by the KuCoin exchange:

On December 1, KCS broke its all-time record by hitting $28.77. KCS is the original token of KuCoin and is one of the few CEXs where you can earn passive income. By having at least 6 KCS, you can get daily KCS bonus which comes from 50% of KuCoin daily income. Another advantage of using KSC is that it allows you to get 20% discounts in trading commissions, participate in Spotlight (IEO) and Burningdrop (new launch product), book a flight in Travala and more. KCC token chain, KCS will be the fuel to run chain transactions, extract liquidity and more. KCC’s TVL is approaching $40 million with interest from several emerging dApps. Compared to other CEX tokens, KCS is the best broker with a 33x price hike since the beginning of the year.

1. What is KCS?

KCS is the original token of KuCoin that was launched in 2017 as a token that allows traders to share in the growth benefits of the exchange. Total supply of KCS has been set at 200 million and there is a plan to buy back and burn until only 100 million KCS remain.

2. How is KCS related to KuCoin?

As a native token of KuCoin, the value of KCS is closely related to the value of the KuCoin exchange platform.

KuCoin is an international cryptocurrency exchange for many digital assets and cryptocurrencies. KuCoin was launched in September 2017, and has become one of the most popular cryptocurrency exchanges. Currently, it offers spot trading, margin, Fiat P2P, futures, staking and lending to its 8 million users in more than 207 countries and territories around the world.

KuCoin, known as “The People’s Exchange”, provides its users with 24/7 customer support services in multiple languages. In addition, KuCoin has created around 19 local communities in North America, Europe, SEA and other regions, providing users with highly localized services.

As the home of crypto gemstones, KuCoin has supported nearly 600 projects with over 1,000 trading pairs. A large number of promising projects such as BLOK, KDA, ZKT, and MOVR had a major listing on KuCoin.

In November 2018, KuCoin announced $20 million in first-round funding from IDG Capital and Matrix Partners. According to CoinMarketCap, KuCoin is currently the third largest cryptocurrency exchange. In 2021, a Forbes consultant named KuCoin as one of the top cryptocurrency exchanges.

As a KCS holder, you will be able to get daily KCS bonus coming from 50% of KuCoin daily income. Thus, as KuCoin grows, the daily KCS reward will grow simultaneously.

3. What is the KCS Bonus?

The KCS Bonus is a unique incentive for KCS holders and the creators of the KuCoin ecosystem. It is also considered as one of the best ways to earn passive income. Users who own at least 6 KCS can get a daily bonus, which comes from 50% of KuCoin’s daily commission income. The amount of rewards that users can get depends on the amount of KCS reserves and the trading volume of the KuCoin exchange.

4. How does KCS relate to Spotlight?

KCS holders can participate in the token sale on KuCoin Spotlight. KuCoin Spotlight is a platform serving early crypto projects and their token distribution. KuCoin users can participate in the early investment of their favorite projects through Spotlight and get profit from it.

Based on historical data, KuCoin launched 14 projects under the spotlight with the highest ROI above 2763%. To name a few, LUKSO achieved a 122-fold increase in the price of the token and the price of PDEX increased by 114-fold. Let’s take VR as an example, now the price of VR is $0.468. The selling price of the Spotlight token is $0.00295. If you were involved in selling VR tokens on Spotlight at that time, your investment income would have multiplied more than 100 times.

5. How is KCS related to Burningdrop?

KCS holders can join BurningDrop. Burningdrop is a fair token distribution platform that has supported the distribution of tokens from a wide range of blockchain startups so far, including HORD, TCP, LOCG, LNCHX, XCAD, etc. Users can access project code by blocking a certain amount of crypto assets. In addition, users can assign tokens to increase their computing power for further distribution of tokens. So far, the average return on investment for projects listed through BurningDrop has been over 3814%.

6. How is KCS related to KCC?

Another important milestone for KCS is the development of KCC, a decentralized public chain built by KCS fans and KuCoin fan communities. KCS is used as an exclusive fuel and original token for KCC and can be used to pay gas surcharges.

KCC is a high performance decentralized public chain. It features high performance, low latency, low transaction costs, as well as satisfactory security and stability. Additionally, it aims to improve on-chain processing power and performance through the Proof of Stake (PoSA) consensus mechanism by reducing the block commit time to 3 seconds. KCS is based on the on-chain gas tariff to reduce overall transaction costs. By developing “faster transaction confirmation speed”, “greater transaction throughput” and “lower transaction fees”, KCC aims to provide faster, more convenient and less costly experiences for community users.

The number of KCS addresses grew steadily through 2021. We saw a positive impact on shareholder growth after the launch of the KCS mainnet in June. The growth of KCS titles on the KCC public chain contributed 45% of the total growth this quarter.

According to KCC Discover, KCC’s TVL is close to $40 million with start-up projects like Mojitoswap and Kuswap.

7. What is a KCS burn?

KCS tokens are a deflationary process. The KCS team regularly implements KCS buybacks and burns. Since January 2021, in order to speed up the KCS burning process and adapt to market development more efficiently, the KCS team decided to adjust the KCS buyback and burning period from quarterly to monthly. So far, KCS has completed 11 burns this year. A total of 3,313,482 KCS, equivalent to $37 million, were burned.

8. Where is KCS included?

KuCoin is the largest KCS market with an average daily volume of 20 million. KCS liquidity continues to improve as KCS is listed on exchanges including KuCoin, MXC, Poloniex, AscendEX (formerly Bitmax) and Probit.

9. What are the other use cases for KCS?

KCS is a payment method. In addition, it has a large number of use cases in everyday life. You can shop online, book a hotel room and play games through KCS. More KCS usage scenarios are listed below.

SwirlPay, a decentralized payment service that supports payments on KCS.PlayGame, a live gaming platform that allows users to play with KCS.KCS can be used for hotel reservations on Travala, the leading travel and hotel reservation platform on the blockchain. Buy trendy products on Print-ted with KCS. KCS is able to support various online and offline payment scenarios with Pundi X. Use KCS to purchase monster card packs on Splinterlands. Put KCS under escrow to borrow in US Dollars (USD) and Vietnamese Dong (VND) on Constant.CoinPayments, a borderless online payment platform, accepting payments on KCS.BetProtocol, added KCS as the token used in gaming apps.

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