Kucoin is a Hong Kong-based cryptocurrency exchange launched in 2017. It has gained popular use because of its wide range of cryptocurrencies available for trade and relatively low fees compared with leading exchanges. Another reason for its popularity is its way of incentivizing traders and investors on their platform through the use of their own native currency, KuCoin Shares (KCS).
KCS holders receive daily dividends—Kucoin will share 50% of what they make from exchange fees daily,Show more [+] vided among token holders according to volume. They also enjoy discounts on trading fees themselves. Every 1000 KCS held gives the holder a 1% discount on trading fees, capped at 30%.
KCS is an ERC20 token. Kucoin originally released 200 million tokens, of which 50% was sold to the public through its ICO. Kucoin does have a buy-back program wherein at least 10% of net profit is used to buy KCS every quarter in order to be destroyed until only 100 million remains. At this time of writing, KCS has a total supply of 180.3 million.