Unstoppable: KCS hits another milestone after getting listed on Poloniex
April is definitely KuCoin’s month. Its native token, KCS, has been listed in three different potent exchanges just for the month of April: from AscendEX to MXC and finally on the “Legendary Crypto Exchange,” Poloniex.
Without a doubt, these listings will boost the overall development of the KCS ecosystem. Besides, the background of these platforms are absolutely something to brag about. Getting registered on Poloniex will help KCS expand into the global market.
KuCoin announced the big news last April 28, 2021 at 10:00 AM (UTC), with the trading pair of KCS/USDT on Poloniex. Many cryptography analysts have predicted that KuCoin and Poloniex will have more projects going forward.
For those who are not yet familiar with the legendary cryptog exchange, here is an overview of what to expect from Poloniex.
What is Poloniex?
Poloniex is a cryptocurrency exchange that was first launched in 2014 by Tristan D’Agosta. Just like KuCoin, it allows the users to buy, trade and sell different kinds of cryptocurrencies, which includes popular coins like Bitcoin and Ethereum. As of the year 2021, they were hailed as one of the most popular exchanges with $100 million trading volumes in a day.
According to the network, they produce their money by charging a fee on everyday trade that is made through their platform by both user and seller. However, users do not have to worry as they presented a maximum amount of 0.125% for the trading fee. Take note that as users start to trade more, the fees go lower.
Poloniex has a huge range of cryptocurrencies which include major coins such as Ripple, Bitcoin and KCS. On the other hand, they also accompany other cryptocurrencies that are still in the infancy stage, such as BlackCoin, Bela and Burst. Poloniex is also known as one of the best exchanges in the industry for making deposits and withdrawals.
Unfortunately, the disadvantage of using the Poloniex platform is the limited payment method that they offer. It does not allow users to choose traditional payment methods such as debit/credit card or a bank account. However, the trading part is the most important feature for me. Poloniex holds a magis selection of tools when it comes to trading. They have the candlestick charts from 5 minutes all the way up to 4 hours, stop-limit orders and the ability to zoom in and out of charts. They created their interface simple and easy to understand for beginners.
What more can we expect from KuCoin Token (KCS)?
KCS is the native token of KuCoin which was intended to set an initial supply of 200 million, while the total supply is 169 million KCS with 79.28 million in circulation as of today. The last burning occurred on April 14, 2021, with an average of 160,723 KCS (worth of 1,983,246 USDT) burnt.
It was created to be the utility token of KuCoin, which was launched in the year 2017. The token enables traders to share the trade’s growth advantage. KCS functions as the underlying fuel and native token of the KuCoin decentralized products, which will benefit the KCS holders and ecosystem builders.
It has a unique feature of giving KCS daily bonus — an incentive mechanism for KCS holders and KuCoin ecosystem builders. KCS also can be used to pay for trading fees on KuCoin with a 20% discount. Not only that, KCS holders can join token sales on KuCoin Spotlight, as well as LockDrop/BurningDrop on the Pool-X platform.
The partnership between Poloniex and KuCoin can be an open gate for new opportunities which is beneficial for both ends. Sooner or later, KCS will stand as the gas fee of new projects, while Poloniex will continue banging the industry with its outstanding tokens.
I can’t wait to see KCS being listed on more exchanges!