KuCoin KCS Whitepaper and Token Burn News
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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.
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
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