KuCoin is a popular cryptocurrency exchange platform that has its native token, known as KuCoin Shares (KCS). Launched in 2017, KCS aims to incentivize users with a variety of benefits such as discounted trading fees and profit-sharing opportunities.
KuCoin was founded by a team of blockchain enthusiasts led by Michael Gan. The team's goal was to create a secure and user-friendly platform for people around the world to trade a wide variety of digital tokens.
The total supply of KCS was initially set at 200 million. However, KuCoin has a buyback-and-burn policy, which means they purchase KCS from the market and 'burn' them, effectively removing the tokens from the total supply. This process will continue until only 100 million KCS remain, making KCS a deflationary token.
KCS can be purchased directly on the KuCoin exchange platform. It's also available on several other cryptocurrency exchanges, but always ensure to use a reputable platform to ensure the safety of your transactions.
KCS is primarily used within the KuCoin platform. Holders of KCS receive benefits such as discounts on trading fees, access to premium services, and a share of the platform's daily transaction fees. This makes KCS not just a cryptocurrency, but also a token that offers tangible benefits to its holders.
KuCoin has recently announced that they will be focusing on 'Empowering KCS', aiming to build KCS as a key product rather than just a simple token. This means that KCS holders can expect to see a wider range of benefits and uses for their tokens in the future. Additionally, with the development of KuCoin's decentralized exchange and KuChain, KCS will also serve as the underlying fuel and general token for these future products.
Recent news about KuCoin reveals a strong focus on expanding its market presence. The platform has seen significant growth in India, with a 1251% increase in Indian users compared to the previous year. KuCoin's CEO, Johnny Lyu, has identified India as a key market for the exchange, contributing to the 5.6 million new users added in the first half of 2022. Additionally, a recent survey indicates a growing interest in cryptocurrencies in Turkey, with the number of female crypto investors approaching that of male investors.
KuCoin news today includes several technological advancements. The platform has listed a variety of low market cap coins not available on other major exchanges, offering potential high returns for investors. KuCoin has also announced collaborations with various projects such as GensoKishi Online Metaworld, a GameFi and metaverse project, and Klein Finance, a stablecoin liquidity provider and exchange platform.
KuCoin recently raised $150 million in a pre-Series B financing round, leading to a valuation of $10 billion. The funds will be used to broaden KuCoin's portfolio of crypto wallets, GameFi, DeFi, and NFT platforms. This recent news about KuCoin indicates a strong financial position and potential for future growth.
In response to insolvency rumours, KuCoin's CEO has clarified that the platform is not facing liquidity issues. He also confirmed that 84% of funds stolen in a previous hack have been recovered, demonstrating the platform's resilience and commitment to security.
If you're wondering where to buy KuCoin or want to keep an eye on the KuCoin price today, you can visit their official website or app for the most accurate and up-to-date information.