First published 27 May 2020. KCS had already been tradable since 2017. Expanded in October 2026 so a fee bonus is not described as a dividend from the token contract, and so the burn target is not described as a completed law. KCS is the utility token of the KuCoin exchange. On the exchange it can cut fees and it can pay a bonus, under KuCoin’s own rules, into a KuCoin account. Those rules are a price list. They do not apply to KCS sitting in a wallet the exchange does not control. An exchange balance is an IOU, not a wallet.
What is BNB? is the older exchange token that grew a chain and then a fee coin. This page is KuCoin’s.
Two hundred million, and a burn the company runs
The 2017 papers set the supply at 200 million and said buybacks would burn it down toward 100 million. A share was allocated to founders and investors with lockups measured in years from September 2017. Those lockups are history. The burn is not. KuCoin buys KCS with a portion of what it says it earned and sends the coins to a burn. The portion and the timetable are announcements. A white paper that says “10 percent of profits” or “50 percent of fees” is describing a programme the company has already rewritten once. Read the latest burn note if the number matters. A market-cap widget that still multiplies by 200 million is using the launch supply.
One hundred million is the stated destination of the burn, not a count of coins that exist today, and not a rule an Ethereum contract enforces by itself. Until the burn transaction is on a chain, the coins exist.
The bonus is the exchange’s database
Holders who keep enough KCS on KuCoin have been paid a daily bonus, in KCS, drawn from trading fees. The 2018 version of that programme replaced an earlier one, and the papers said the share could change. The minimum holding is a company rule. The bonus lands in the exchange account. It is not interest, it is not a dividend the ERC-20 pays, and a wallet that is not on KuCoin does not receive it. Staking is a lock and a queue, not a savings account is the neighbouring idea. This bonus is closer to a rebate than to a stake. The figure in a screenshot is that day.
Paying trading fees in KCS has been sold as a discount. The discount is the same kind of account rule. If the KCS is not in the account the exchange named, the discount does not apply.
Ethereum is not the KuCoin chain
KCS launched as an ERC-20 on Ethereum. In 2021 the company also put KCS on the KuCoin Community Chain and said the token pays fees there. That chain is not Ethereum. An address that starts with 0x on Ethereum will not receive the chain’s native coin, and a deposit screen that says KCC is a different notebook from one that says ERC-20. The wrong network is still the wrong city. Nothing here is an instruction to buy KCS, to stake it, or to use KuCoin.
