KuCoin Shares is a cryptocurrency issued by the exchange KuCoin. KuCoin is a relatively new, but fast growing cryptocurrency exchange. KuCoin Shares is an ERC20 token built on the Ethereum blockchain.
Description
KuCoin is an international cryptocurrency exchange based in Hong Kong and offers trading for more than 210 cryptocurrencies. KuCoin shares 50% of their overall trading fee revenue with users holding their exchange-based token. KuCoin offers relatively low tradings fees and incentives for holding its native cryptocurrency in a similar way as Binancedoes.
Concept
KuCoin Shares runs a buyback and burn program. Every quarter, KuCoin uses 10% of its profits to purchase and burn KuCoin Shares. This program will continue each quarter that KuCoin is profitable until 100 million of the 200 million coins in the total supply have been burned.