Hello, fellow Steemers,
Today I want to talk about KuCoinShare or KCS short.
This coin has a lot of potential to grow in the following months, why? KCS is a profit-sharing coin. KCS collects fees from the exchange, 50% of the daily fees collected will be redistributed among the KCS holders, as for now there is 100.000.000 KCS in circulation.
How will it be distributed?
You get paid out a tiny amount of each coin. This will be calculated, with the following formula.
[Daily trading volume] * [0,1% (fees)] * [50% (of the daily fee collected)] * [the amount of KCS], per coin.
This will result in that you will get pennies worth each day of each coin.
You may think, that is shit that's worth nothing! Well, it might be worth something, as it will automatically create a distributed portfolio, averaging the total market gains. If you really dislike a specific coin, just trade it once in a while.
Further things to know about the KCS, is that they have a buyback program, committing 10% of their profit towards buying back and burning KCS. In the long run, this will increase the value per share (if the company, of course, holds the value it's worth ;) )
You may think is this a pyramid scheme to lure users in? Well I think not, because you do not have to make an initial investment towards a company as normal HYIP require you to do, these are just tokens bought at an exchange from other persons. This is just a really aggressive form of marketing to attract a high volume of users and volume to the exchange. It currently is the 2nd fastest growing exchange on the market. Trading a volume of 343.266.655$ (10-1-18)
If you want to know how much your KCS will produce each day visit this website : https://kucoinshares.com/
If you liked this article or want to check it out,here is my referral link: https://www.kucoin.com/#/?r=7Q17Ng
If you want to read KuCoin vs Binance, subscribe to my channel I will soon write a piece about it.
If you find any incorrect or missing information, please leave it in the comments below, as correct information is important, and I'm just a human. ;)
Kind regards,
Zyto