KuCoin (KCS)
KuCoin is a centralized cryptocurrency exchange offering a diverse range of trading services, including spot trading, margin trading, futures, and lending. It operates in over 200 countries, providing access to more than 400 digital assets like Bitcoin, Ethereum, NEO, EOS, and Tether. KuCoin has its native cryptocurrency called KuCoin Shares (KCS), which benefits its holders through trading fee discounts and other perks.
History of KuCoin
Beginnings
| Ticker | KCS |
| Category | Exchange-based Tokens |
| Website | https://www.kucoin.com/ucenter/signup |
| @kucoincom | |
| https://www.reddit.com/r/kucoin |
KuCoin was founded by Michael Gan and Eric Don in 2013, aiming to create a user-friendly exchange. The platform officially launched on September 15, 2017, with the collaboration of several key team members.
Venture capital funding
In November 2018, KuCoin secured $20 million in funding from IDG Capital, Matrix Partners, and Neo's venture capital arm. This investment was intended to support KuCoin's global expansion and technological improvements.
Corporate restructuring
KuCoin underwent significant corporate restructuring in 2019, forming KuGroup, which comprises three business groups: KuCoin Global, KuCloud, and KuChain & KCS Business Group. This restructuring aimed to streamline operations and enhance service delivery.
NFT creators fund
In April 2022, KuCoin launched a $100 million fund to support NFT creators. This initiative was designed to foster innovation in categories like art, sports, and Asian culture.
Internal restructuring
On May 17, 2022, KuCoin announced internal changes, with CEO Michael Gan becoming Chairman of KuGroup. Johnny Lyu took over as CEO, focusing on key products and global strategy.
KuCoin features and services
Windvane NFT marketplace
Windvane, a decentralized NFT marketplace powered by KuCoin, offers a wide range of NFTs through its cross-chain aggregator. The platform provides users with an easy selection of top NFTs.
KuCoin account verification
KuCoin requires Know Your Customer (KYC) verification for increased withdrawal limits and account recovery benefits. The exchange introduced mandatory KYC checks in July 2023, ensuring compliance and security.
KuCoin Futures
KuCoin launched its Futures platform in mid-2019, allowing users to trade Bitcoin and Tether-margined contracts with leverage up to 100x. The platform offers lite and pro versions for different trading expertise levels.
KuCoin staking and lending programs
KuCoin provides staking and lending services, allowing users to earn interest on their digital assets. These services include KuCoin Lend, Pool-X, and soft staking, supporting a variety of cryptocurrencies.
KuCoin Spotlight IEO platform
KuCoin Spotlight is an initial exchange offering (IEO) launchpad that supports new crypto projects. Users can invest in vetted projects using KuCoin Shares (KCS).
KuCoin Shares (KCS)
Lock-up period
KuCoin Shares (KCS) were initially distributed to founders, investors, and the public. The founders' and investors' holdings were subject to lock-up periods to ensure stability and trust.
Buy-back mechanism
KuCoin implements a buy-back mechanism, using 10% of its net profit to repurchase and burn KCS quarterly. This practice aims to reduce the supply and potentially increase value.
KuCoin Labs
Incubation program
In December 2022, KuCoin launched its first incubation program, focusing on GameFi, NFT, and Metaverse projects. The program aimed to support sustainable growth and innovation.
KuCard
KuCard, a VISA debit card issued by KuCoin, offers instant crypto-to-fiat conversion and various rewards. It supports Google Pay and Apple Pay, primarily in Europe and the UK.
KuCoin programs
Global Titan Ambassador Program
This program fosters partnerships with top blockchain projects and industry influencers, prioritizing user investment security and risk reduction.
Referral bonus program
KuCoin's Referral Bonus Program allows users to earn a percentage of trading fees from referred users. The program encourages community growth and engagement.
Global Communities Program
KuCoin's Global Communities Program connects diverse user groups through active communities in multiple languages, enhancing user experience and inclusivity.
Partnerships
KuCoin x HackenProof
In March 2023, KuCoin partnered with Hacken to launch a bug bounty program, offering significant rewards for identifying vulnerabilities and enhancing security.
KuCoin x The Crypto App
KuCoin's collaboration with The Crypto App provides users with insights and tools for portfolio tracking and trading analysis, improving user experience.
KuCoin x Sui
KuCoin Labs and Sui co-hosted the Labs X Sui Summer Hackathon in 2023, aiming to encourage global innovation with a substantial prize pool.
Initiative
KuCoin Campus
Launched in January 2024, KuCoin Campus is an educational initiative focusing on blockchain education worldwide. It includes programs like the University Roadshow in Pakistan to promote awareness and innovation.
KuCoin Lights Up Africa
In February 2024, KuCoin, in collaboration with the Smiling Simon Greenbuild Foundation, organized an event to support education in Africa, providing solar lamps to schools.
Funding
KuCoin raised funds through an ICO in 2017, issuing its native KuCoin Shares (KCS) tokens. The ICO successfully raised funds for the exchange's development and expansion.
Team
- Michael Gan - Chairman
- Johnny Lyu - CEO
- Eric Don - COO
- Top Lan - CTO
- Kent Li - Operations & Maintenance Director
- John Lee - President of the Business Operations Group
- Jack Zhu - Marketing Director
- Linda Lin - Chief Legal Consultant