Kucoin Exchange AMA Recap Crypto Revolution Community

On 1st of March Kucoin Exchange conducted an AMA in Crypto Revolution Community. Major Topic of the AMA was KCS. Our guest was Alicia, Senior Partner from Kucoin Exchange. Impressive interest from Community! Let’s take a look at most interesting points from our Conversation with Alicia!

INTRODUCTION

Danny | Crypto Revolution: KUCOIN ama IS ON!

Alicia |KuCoin: Hello, everyone. This is Alicia, senior partner of KuCoin.
I am so happy to be here today.

Danny | Crypto Revolution: Hey Alicia, happy to have you with us today as well!

Alicia |KuCoin: Hello Danny, thanks for having me :blush:

Danny | Crypto Revolution: Thank you for taking from your Valuable time to be here with us today 😉

Alicia |KuCoin: Sure! My pleasure.
As you may notice, we just launched the first KCS Super Week. Following the campaign, we will add more KCS trading pairs to improve KCS liquidity and users’ trading experience, as well as push for KCS to be listed on more crypto exchanges. In addition, after the KuCoin decentralized solution launches later this year, KCS will be its underlying fuel.
The motivation behind this AMA is that we found that many KuCoin users still have limited understanding on what KCS is and how it can be used.
I hope more people can be a KCS holder, help us to grow and benefit from the growth and more!
Check here to know more about the ongoing KCS Super Week. I wish you all have fun!
https://www.kucoin.com/news/en-celebrate-kcs-super-week-hold-or-trade-kcs-to-win-the-lucky-draw-and-kcs-rewards

Danny | Crypto Revolution: Could you please give an introduction of yourself?

Alicia |KuCoin: Sure!
I am in charge of KuCoin global VIP relations including high valued customers, institutions, and 3rd party trading platforms.
Leading the VIP client service team provides premium services to clients and partners of over 20+ countries.
You can follow and interact with me on Twitter ! https://twitter.com/GOAliciaK

Danny | Crypto Revolution: I just did 😉 What is KuCoin Token (KCS)?

Alicia |KuCoin: Well, KCS is the native token of KuCoin, which was launched in 2017 as a profit-sharing token that allows traders to draw value from the exchange.
It was issued as an ERC-20 token running on the Ethereum network and was supported by most Ethereum wallets.
The total supply of KCS was set at 200 million, and there is a planned buyback and burn until just 100 million KCS remain. Sooner or later, as the KuCoin decentralized trading solution goes live, KCS will be the native asset of KuCoin’s decentralized financial services as well as the governance token of the KuCoin community in the future.
KuCoin has also announced that “Empowering KCS’’ will be a key priority of KuCoin and will build KCS as a killer product rather than a simple token, which is bound to further diversify the benefits that KCS holders can access.
In the long run, KCS performs as the key to the entire KuCoin ecosystem. With the development of DEX and KuChain, KCS will also be the underlying fuel and general token for future KuCoin decentralized products. More details will likely be released in the near future.

Danny | Crypto Revolution: Thank you. What makes KuCoin Token unique?

Alicia |KuCoin: The KCS BONUS!
We’d like to share our growth with our users and that’s why we introduced the KCS bonus.
Users who hold more than 6 KCS can get a daily dividend. Everyday, 50% of our profit will be distributed to KCS holders as a KCS Bonus. Recently, as our trading volume continues to grow, the APR of the KCS bonus has been 20% — 30%, meaning that if you hold 10k KCS, you can get about $150 worth of KCS per week. A super nice way to earn passive income!
Here is just an example of daily KCS bonus 👇

Danny | Crypto Revolution: This is really nice!

What is the use case of KCS? / What is your plan to create more use cases of KuCoin tokens?

Alicia |KuCoin: OK. KCS, as a utility token, has a number of use cases. In the KuCoin ecosystem, KCS can be used to pay trading fees with a 20% discount.
The use case of KCS also includes participation in token sales on KuCoin Spotlight, as well as LockDrop/BurningDrop on the Pool-X platform.
Furthermore, KCS can also be used as a payment method for shopping, making hotel reservations, buying gaming equipment, and more. If you have the KuCoin app, open and pull down to discover more. Just like this:

In KuCoin CEO, Johnny’s public letter on Feb 4th, 2021, he believes KCS has been undervalued by the market, and with the implementation of related work, KuCoin are confident that KCS will enter the top 30 or even the top 15 of total market cap in 2–3 years.
It means KCS investment potentials can be 6x or even higher based on the current price:
Here is the link of the KuCoin public letter, in case you might be interested.
https://www.kucoin.com/news/en-a-letter-from-kucoin-ceo-2020-2021-and-beyond
In the open letter, Johnny mentioned that “Empowering KCS” will be one of two key priorities of KuCoin in 2021 and beyond.
We will build KCS as a killer product rather than a simple token. KCS performs as the key to the entire KuCoin ecosystem. It will also be the native asset on KuCoin’s decentralized financial services as well as the governance token of the KuCoin Community.

Following the lastest roadmap of KuCoin and KCS, we will launch more KCS products. Step by Step, we will achieve the goals we have set!

Danny | Crypto Revolution: Thank you Alicia. This was really good Explanation 😉

What are your plans for more users to engage in continuous barter trading and more volume growth?

Alicia |KuCoin: Like you see in our roadmap for 2021–2023, it is mentioned that our goal on KuCoin’s trading volume is to reach $5 billion by the end of this year, which is about the level of Coinbase nowadays.
Multiple tactics will be introduced to ensure that we can achieve this goal. For instance, we continuously are looking for more crypto gems like LUNA, LYXe and FRONT.
Introducing more user-friendly features like the Trading Bot. Also, KCS will also be a killer product that we are going to use to attract more users to KuCoin this year. Actually, in this month, as the KCS and other major coins pump, we’ve already seen new daily sign-ups increase 5x.

Danny | Crypto Revolution: Thank you. And last question from me for the Introduction Part 😁

Every exchange has its native token and a native blockchain…such as BSC OKB HICO etc… When will KCS have its own blockchain and launch another token?

Alicia |KuCoin: I’ve also noticed a trend that many promising new blockchains are on the rise. As the home of crypto gems, KuCoin is happy to support more rising stars. The Terra ecosystem, for instance, is a very good example. They already have tokens like LUNA, MIR and UST listed on KuCoin. In fact, both LUNA & MIR reached an all-time high in this month.
For KuCoin’s native blockchain, we also have a new plan for KuCoin moving towards decentralization. After evaluating all existing technologies and public chain ecosystems, we are going to launch new KuCoin decentralized trading solutions on the basis of KuChain.
One thing is for sure, that KCS will be the underlying fuel whatever the solution actually is. The unique KCS bonus plan will also be implemented in our decentralized services. Please stay tuned!

Danny | Crypto Revolution: Thank you for covering all Introduction Questions Alicia!

TWITTER QUESTIONS

Q1 from @ApaguJohan

I saw that Kucoin has a special feature called “Trading bot”. Can you tell us describely about that? How does it works?

Alicia |KuCoin: Of course! Thank you@ApaguJohan for your question!
KuCoin launched the trading bot function on January 18th. Users can experience the KuCoin Trading Bot for free via the latest version of the KuCoin App. The goal and objective are providing a new and easier way for users to make stable passive income.
A Trading Bot is just a kind of API trading. However, users can use trading bots without understanding the details of API trading.
The Trading Bot runs automatically in accordance with the set parameters. Trading bot supports multiple trading strategies, with monitoring crypto portfolios 24/7 and always keeping users one step ahead of the market trend.
You can find more details about how to Make Passive Income With KuCoin trading bot here:
https://medium.com/kucoinexchange/kucoin-trading-bot-is-coming-how-to-make-passive-income-with-it-ba5d62fbba48

Danny | Crypto Revolution: Chat please take a few minutes to read the Medium Article! Thank you Alicia!

Q2 from @ZamoraJoana

Which advantages have the KCS ( native token) on the kucoin platform over others native tokens like BNB , HT or BIX on their own mainnet?

Alicia |KuCoin: Thanks @ZamoraJoana for the question!
Like I mentioned before, we share KuCoin’s revenue with KCS holders, The APR for just simply holding KCS as passive income could be as high as 20%-30%. This has given KCS an exclusive and competitive advantage compared with other exchange tokens in the market. Last year, a KuCoin user has claimed over 70,000 KCS from the bonus plan, which worth over $400,000 based on KCS’s latest price.
Second, use KCS for trading fees deduction. Some decent altcoins has made huge gains in 2020, such as MIR, DEGO, LUNA, etc. KCS can be used for trading fee deduction for trading those coins.
Most importantly, we have realized that we haven’t given KCS enough attention and support. And that’s what we are going to change in 2021. We will build KCS as a killer product rather than a simple token, including adding more KCS trading pairs, improving the KCS liquidity by listing more exchanges, and launching more KCS products.
I believe KCS has been undervalued by the market, and with the implementation of related work, KuCoin are confident that KCS will enter the top 30 or even the top 15 of total market cap in 2–3 years. It means KCS investment potentials can be 6x or even higher based on the current price.

Danny | Crypto Revolution: This was really good Answer!

Q3 from @Berat_lucky11

Nowadays there is a lot of competition, for example Binance is a great competitor for KuCoin, with its large community and listed altcoins. What makes KuCoin better? Why should users use KuCoin instead other platforms? What are its advantages?

Alicia |KuCoin: Thank you for your question @Berat_lucky11
I think our advantages would be the capability of market responsiveness and innovation. KuCoin always find market trends in advance then develops products to meet the demand.
In terms of NFT, KuCoin will launch the first centralized exchange for trading NFT assets with lower fees.
To support the ETH 2.0 migration, Pool-X is one of the earliest platforms launched with the ETH 2.0 staking feature. And Pool-X pioneered a liquidity market allowing users to trade the staking assets.
Many products were first created by KuCoin and then gradually became a trend in the industry.

TELEGRAM QUESTIONS

Telegram User:

To get the KCS bonus, I need to hold a minimum amount of 6 KCS. But what is the maximum amount? Also, do I need to hold them on the Exchange or can I hold them in my wallet?

Alicia |KuCoin: So many people are curious about the KCS bonus!
There’s no maximum holding amount for getting the KCS bonus. Actually, last year one user got over 70k KCS through the bonus, worth about 300k USD at the latest price.

If you want to get the KCS bonus, for now you can only hold KCS on KuCoin. However, as KCS gets listed on more exchanges, we are considering the possibility of supporting the KCS bonus on these exchanges as well
2021 will be a significant year for crypto as more traditional investors are coming to crypto:relaxed::relaxed:
We believe KuCoin will experience promising growth this year and by the end of the year, a few milestones can be expected:
- KuCoin Daily Volume Passes $5 Billion
- Over 200,000 KCS Addresses
- KCS Reaches Top 50 in Market Cap
- Serving 12 Million Users Worldwide

Telegram User:

KuCoin is doing great in everything, but recently, KuCoin introduced its Trading Bot which has less flexibility, so will KuCoin enhance the ability to make trading bots, so that it can be flexible and be a piece of cup of cake for any user to create?

Alicia |KuCoin: Yes, the current trading bot is the first version, and we will introduce more features like Margin grid and futures grid. Also, we will also add more flexibility so that the bot can help our users make more profit.
Over 300k bots have been created, and we hope it can reach 1M soon.
Thank you so much for your questions! I am sorry that could not answer it all 😢 Maybe I will come back very sooooon!

CONCLUSION

Danny | Crypto Revolution Thank you Alicia! Group is always open for you 😉 You can come back anytime you wish!

Alicia |KuCoin: Thank you so much, Danny!

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