TechFlow news — KuCoin Exchange, the KCS Management Foundation, and KCC have jointly released the KCS Whitepaper, outlining mechanisms to accelerate KCS value growth and disclosing a lock-up plan for 90 million KCS tokens.
Among these, 20 million KCS belonging to the founding team will be permanently burned. Another 20 million will be allocated as long-term incentives for KCS holders and ecosystem contributors, while 25 million will be donated to the foundation and gradually released over five years. For the 25 million KCS held by initial investors, 18 million will be linearly released over five years, and the remaining 7 million will be donated to the KCS Management Foundation.
Meanwhile, KCS aims to strengthen KuCoin’s Web3 strategy by exploring areas such as DID, NFT ownership and trading, metaverse platforms, and building payment systems and a Web3.0 ecosystem.
The whitepaper states that KCS is designed to create a self-circulating blockchain-based value ecosystem, where all KCS, KuCoin, and KCC community members gain access to services and are incentivized through built-in application scenarios. In the future, KCC GoDAO will replace the KCS Management Foundation to empower and drive the development of the KCS ecosystem.
