Kucoin is a new Hong Kong based exchange that began operations last month, with support for both NEO and GAS markets. Originally launched as Kubi.com in China, the company moved their operations to Hong Kong, after regulators forced all Chinese-based exchanges to shut down. Kucoin has since shifted their attention to serve the international market.
Users who hold NEO on Kucoin will have GAS distributed to their accounts daily. A snapshot of NEO account balances is taken at 00:00 UTC +8, and GAS distribution occurs immediately, where most users will receive GAS before 1:00 UTC +8.
Kucoin is the second exchange to distribute GAS to NEO holders, and the first exchange to distribute GAS daily. The first exchange to do so is Binance, which distributes GAS to NEO holders on a monthly basis.
Kucoin has an ERC20 token known as Kucoin Shares or KCS. Traders who hold KCS on the exchange are currently rewarded with 50% of the fees collected across all currencies traded on the platform. However, this percentage is subject to changes in the future, according to the Kucoin white paper.
Other items on the Kucoin roadmap are Android and iOS mobile apps, and a cryptocurrency pair self-releasing feature, along with a goal of listing 50 mainstream cryptocurrency pairs by the end of 2017, and 1000+ by the end of 2018.
You can visit the exchange here – https://www.kucoin.com/
About The Author: Dean Jeffs
Dean is a digital project manager who has worked extensively with start ups and agencies in the marketing space. Fascinated by the potential applications of blockchain technology, Dean has a passion for realising the new smart economy.
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