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KCS Buy Back And Burn Procedure Update

KCS Buy Back And Burn Procedure Update

04/08/2018, 06:50:29

Dear KuCoin Users,

With your support, KuCoin has grown quickly since the founding in 2017. In accordance with our whitepaper, we use 10% of our profits to buy back and burn KCS each quarter.

KuCoin invested a large amount of funds into software and hardware in the first quarter (September 2017 – December 2017). The goal was to bring a safer and more efficient trading experience to the users, so that we did not make a profit in the last quarter of 2017. We have executed a KCS buy back and burn work in our second fiscal quarter (January 2018 – March 2018) Q1 2018.

We have burned 312,500 KCS based on our 2nd fiscal quarter profits. The burn event has been done on the blockchain, and a link below: https://etherscan.io/tx/0xc57b45d13a23d3a61b6a9040ef2001b0ee470bcd078b56af820745a7d0939ddb

Thank you so much for being on this journey with us!
KuCoin Team