The Joint Proposal for KuCoin Bonus Upgrade by KCS Management Foundation and KCS Community
Dear KCS Holders and Community Members,
In order to encourage more centralized exchanges and DeFi projects to participate in the KCS ecosystem, further promote decentralization, and enhance KCS liquidity, the KCS Management Foundation and KCS community have decided to jointly propose improvements to the KuCoin Bonus (KCS Bonus).
1. The upgrade of the original KCS Bonus reward from KuCoin users holding KCS to participating in staking to receive rewards. KCS holders can stake on the KCC chain or participate in staking on KuCoin and other centralized platforms to earn rewards.
2. During the upgrade period, staking KCS earnings will consist of a portion of KuCoin platform trading fees and KCC on-chain fees.
3. The KCS Management Foundation will provide an additional 20% of daily KCS Bonus to subsidize staking rewards for the first month.
4. The KCS Management Foundation will periodically reward KCS users through operational activities, ecological collaborations, etc.
Through this proposal, the KCS Management Foundation and KCS community aim to continually expand the KCS ecosystem and strengthen the rights of KCS holders.
The KCS Bonus, as an incentive for KCS holders, includes:
1. KuCoin platform trading fees: Part of the trading fees is used to buy back KCS and distribute it to KCS holders.
2. KCS ecological benefits: KCS holders enjoy benefits from ecological product services, ecosystem project earnings, etc.
3. KCC on-chain fees: A portion of on-chain fees is awarded to KCS holders as part of the KCS Bonus.
4. KCS ecological development costs: Future fees from ecological products or services in collaboration will be an additional source of rewards for KCS holders.
After the proposal is approved, all KCS holders can share the KCS Bonus through staking.
KCC (KuCoin Community Chain) is a blockchain initiated and developed by core members of the KCS and KuCoin Community: a layer 1 network driven by KCS, built on the Ethereum source code, and using the POS consensus.
As a reliable centralized exchange, KuCoin is a crucial part of early participation and promotion in the development of the KCS ecosystem. After the maturity of the KCS ecosystem, its development will be entirely determined by KCS holders.
KCS (KuCoin Token) was initially issued as an ERC-20 token on the Ethereum chain in 2017 and migrated to the KCC chain in 2021. It serves as the native token, governance token, and platform token for KuCoin on the KCC chain. Designed as a utility token ecosystem for the entire self-circulation, KCS will gain greater value with the construction and development of the KuCoin exchange and KCC ecosystem.
The voting will use the snapshot method. Please ensure you have a wallet address on the KCC chain and deposit your KCS into your wallet before the snapshot.
We recommend using Metamask or HaloWallet for voting. Do not transfer your KCS before the end of the voting period.
Supported Chain: Only KCS on the KCC chain is eligible for this vote.
View the proposal and vote: https://snapshot.org/#/kcc.eth
Snapshot Time: 09:00 on November 25, 2023 (UTC)
Voting Time: 10:00 on November 25, 2023 (UTC) ~ 07:00 on November 28, 2023 (UTC)
Voting Criteria: 1 KCS = 1 Vote
We sincerely invite you to participate in this proposal and vote, contributing to the prosperity of the KCS ecosystem.
Thank you for your support!
The KCS Management Foundation and KCS Community
November 21, 2023
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