1.) What is the timeline for reducing the 50% bonus payout to 15%, where is it even detailed that it will go down to 15%, and what is stopping Kucoin from getting rid of the bonus altogether?

  • Update: several users have confirmed it will hit 15% in April. But the only answer to why kucoin cant get rid of it altogether is that they wont do that because the founders dont want to devalue their own coins. What happens after they dump their own shares though? They could easily leave us holding the bag.

2.) What happens to KCS shares if the Kucoin exchange is acquired by another entity? Do they hold any kind of equity value or would they just be worthless if Kucoin is acquired?

  • Only answers I’ve received on this so far implies that yes, KCS would be absolutely worthless.

3.) What is the total supply of coins? The whitepaper says 200M, but 100M of those are locked up for some period of time. Coinmarketcap says 91M are circulating, where did the other 9M go?

  • I think I understand this now, pretty sure the 9M have been repurchased.

4.) When calculating the 50% kucoin bonus it says the 100M coins held by founders and angel investors are not taken into account. What about when these come out of lockup? At the time these coins are allowed to be sold on the exchange will the new holders not be entitled to the bonuses?

  • From what I can gather so far it appears once these coins come out of lockup they will dilute current payouts. So we will go from 50% to 15% of fees, and then get cut in half again when the other half of KCS come out of lockup. So basically we will get cut down to ~7.5% from 50%.

5.) Has the destruction of coins already started? Is that why we are down to 91M coins circulating? Is it 10% of revenue or profits that are used to buy back coins? If it’s profit, how can we verify that 10% is actually going to buy backs? Where are the buy backs being recorded?

  • Haven’t seen where the buybacks are being recorded but supposedly this is happening.

6.) What are the trading fee discounts offered for holding KCS? Where can I view these? Can they be changed at any time?

  • Need 1000+ KCS to start to get discounts, not sure on the exact KCS to discount level.

7.) The whitepaper said KCS will eventually be used to pay for transaction fees, if that’s the case how will it work and does this mean the bonus payouts will end eventually?

  • I got this from the following statement in the whitepaper, “FUTURE DECENTRALIZED EXCHANGE SYSTEM GAS Kucoin team is dedicated to blockchain technology R&D and is planned to release decentralized exchange features in the future. As for KCS, it shall be the core fuel of this exchange system.”
    To me that reads that KCS will be used to pay fees, idk how you guys interpret that.

submitted by /u/dansmith46
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