KCS

A blockchain-based value

self-circulation ecosystem

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Motivation

Since its establishment in 2017, KCS ecosystem has been an observer, a participant, and a beneficiary within the crypto industry. For the next phase of the industry’s development, KCS team would like to further capitalize on the key advantages, such as our influence, platform, technology, talents etc., to build a self-circulating ecosystem based on KCS, thereby lowering the barriers for ordinary users to enter the world of the blockchain, thus allowing blockchain technology and its related applications to truly move from the geeks to the masses while allowing more individuals and organizations to make better use of blockchain technology and advance it.

Since the birth of Bitcoin in 2009, the crypto world has experienced a revolution that saw blockchain 1.0 to blockchain 2.0, and blockchain N.0. Cryptocurrency has expanded beyond the characteristics of a currency to include the capabilities of an application with the smart contract as its basis, with an endless supply of new application types. Decentralized finance, decentralized computing, decentralized storage, Web3.0 etc.

Each new bold attempt at innovation brings not only new technological improvement in this area, but also changes to the world. Decentralized finance advances financial inclusion, decentralized computing and decentralized storage allows every byte of information to be executed and recorded while Web3.0 redefines the relationship between productivity and production.

We believe that in the future, blockchain technology and its related applications will be applied on a large scale and profoundly change our lives, akin to the Internet today.

The ecosystem and the applications derived from blockchain technology will continue to benefit mankind. However, while blockchain technology continues to move towards mass application, there are still urgent problems that need to be solved. For example, more than 90% of the world's population has never been exposed to cryptocurrencies or the associated technology. The rapid development of the crypto world (such as the emergence of new technologies, new concepts and new applications) will also increase the threshold for new users to enter the crypto world (such as NFT transactions, Layer 2s and cross-chain transactions, etc.). Moreover, there remains a huge "disconnection" between the crypto world and the traditional world.

We believe that in the future, blockchain technology and its related applications will be applied on a large scale and profoundly change our lives, akin to the Internet today.

KCS Value Capture and Deflationary Mechanism

The KCC ecosystem will aggregate various types of projects and platforms, including DeFi, NFT+, games, Web 3.0-related application projects, etc. KCS will support and integrate with the entire ecosystem and continue to capture value from the following aspects, including the right to participate in the services of related products and the repurchase of KCS for the benefit of projects in the ecosystem.

Pledge KCS to obtain rights to new projects and other benefits in the ecosystem

Part of on-chain transaction fees (gas fee)

Loan products

Game, NFT service and transaction fees

Resource consumption fees such as storage and bandwidth

Investment income of ecological projects

Liquidity gains

Deflationary Mechanism

KCS Deflationary Mechanism: On the one hand, the KuCoin trading platform will regularly repurchase KCS from the secondary market with part of the platform’s revenue and burn this part of KCS. This means that there will be less and less KCS supply in the market. In the past 4 years, KuCoin has burned tens of millions of KCS, worth hundreds of millions of dollars.

On the other hand, in order to better support the development of the KCS ecosystem, we plan to introduce EIP1559, the KCC fee mechanism of base fee + priority fee. Among them, the basic fuel fee will be dynamically adjusted according to the congestion of the KCC network and will lead to the continuous destruction and deflation of KCS. The priority gas fee will go to the corresponding miner node. In this way, both developers and KCS holders will benefit from this.

Reward Mechanism

KCS Incentive Model: The KuCoin platform will repurchase KCS with part of its fees and distribute it to users according to the user's KCS position on a daily basis. In the past 4 years, the KuCoin trading platform has cumulatively distributed tens of millions of KCS incentives, which is worth hundreds of millions of dollars.

Fee Discounts

KuCoin uses the size of a user’s KCS holdings as the criterion for determining users’ VIP level. The more KCS held, the higher the VIP level, the more benefits and the greater the fee discounts. In addition, users can also use KCS to pay for transaction fees on the KuCoin platform and enjoy discounts.

Outlook

With further development of the KuCoin exchange ecosystem and the gradual improvement of the KCC ecosystem, we have built an ecosystem based on blockchain technology around KCS with self-circulating value. Not only has it provided a payment system that can serve hundreds of millions of users around the world, but it has also accelerated the arrival of the Web 3.0 era. Moreover, the spectrum of diversified application scenarios based on the KCS ecosystem also improves the ease of use of blockchain technology and its related applications, lowers the threshold for ordinary users to enter the crypto world, and truly pushes blockchain technology from the geeks to the masses. In the process of promoting the fusion of the crypto world and the traditional world, it will also open the door to the future of the digital world for us.

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