Is there a set frequency to when $kcs burns happen? What prompts a burn?


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Posted in Kucoin Reddit

2 Comments

  1. kucoin_moderator on 1. May 2020 at 5:18

    In accordance with our whitepaper, we will use at least 10% of profits from each fiscal quarter to buy back KCS from the market and burn it. We will maintain the total supply of around 100 million KCS. We have recently executed the 600,167 KCS burn for Q1 2020. Check our official announcement here: [https://www.kucoin.com/news/en-kcs-team-completes-10th-quarterly-kcs-burn](https://www.kucoin.com/news/en-kcs-team-completes-10th-quarterly-kcs-burn)

     


  2. thegreatonenumber2 on 1. May 2020 at 5:18

    you get burned when you buy it