The top 5 crypto exchange KuCoin, has announced the listing of its native KCS token on the cryptocurrency exchange Poloniex. The listing of KCS follows two other important crypto exchanges listing the token this month- AscendEx, and MXC.
KuCoin has had a series of recent announcements that indicate their commitment to expansion. Only last week, the ecosystem launched KuCoin Labs, a crypto market analysis and research branch which includes a $50 million research fund to develop ‘hidden gems’ and early -stage crypto projects.
With this latest announcement, KuCoin will further expand into the global market, and strengthen its existing relationship with Poloniex.
Here’s what KuCoin Global CEO, Johnny Lyu had to say on the listing:
“KuCoin and Poloniex have a long-term partnership. The listing will further strengthen the cooperation. As the core of the KuCoin ecosystem, KCS will be further listed on more exchanges to boost the KCS ecosystem.”
With regards to the function of the KCS token, there are several use cases that the token holds as a utility token. KCS holders (of minimum 6 KCS) are eligible for a daily bonus that comes from KuCoin’s daily trading fee revenue, as well as being able to take part in token sales on KuCoin spotlight - a program launched in 2019 that provides users with access to ‘hidden gems’ in blockchain and allows users to participate in token sales.
The platform boasts a 20% discount fee for KCS holders who wish to use their KCS against their trading fees. KuCoin global revealed in a recent statement that in the future KCS will be used as the gas fee of the, soon to be launched, KuCoin Community Chain.
Poloniex commented on the KCS listing in a medium post that also set out the details for their KuCoin Token Campaign- providing traders with the chance to win from 44,800 USDT.
KuCoin titles itself as the ‘people’s exchange’ - with a number of features that attract crypto traders and have led to it being ranked a top 5 crypto exchange on CoinMarketCap as well as attracting over 8 million global users.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.