The Announcement Regarding KCC Co-Releases the KCS Whitepaper With KCS Management Foundation
We are pleased to announce that the KCS Management Foundation has co-released the KCS Whitepaper with KCC and KuCoin on March 29, 2022.
The KCS Whitepaper focuses on the outlook on the future development of KCS, KCS Governance, and the redistribution of the 90 million KCS. It also discussed the concept of Value Exploration and how to build a blockchain-based Autonomous Phase. As a critical component of the further expansion of the KCS ecosystem, KCC has been discussed in a large frame in the whitepaper in terms of future development and cooperation. Click to view the KCS Whitepaper.
The key messages of the whitepaper are as follows:
Establish the KCS Management Foundation to empower the KCC ecosystem. KuCoin’s core team, KCC GoDAO Foundation, investment institutions, angel investors, and representatives of the KCS Holder Community co-established the KCS Management Foundation. And it will oversee the research, funding, investment, incubation, and resource integration of KCS. In the future, KCC GoDAO will gradually replace the KCS Management Foundation to empower and facilitate the development of the KCS ecosystem once the basis has been set up.
KCC is a blockchain project initiated and developed by the core members of the KCS and KuCoin development community. The founding of KCC has started a new era for the KCS ecosystem by bringing rich usage of decentralized applications. With this, KCC will focus on the following areas:
- Building basic toolchain for blockchains;
- Connecting the centralized and the decentralized world;
- Building a global and open developer platform;
- Building a decentralized autonomous community;
- Building cross-chain interoperability protocols;
- Expanding performance and capacity to handle the demands for greater scale;
The development of KCC will also gradually move from the era of EVM-compatible 1.0 and 2.0 towards a cross-chain 3.0 ecosystem, compatible with multiple chains and multiple assets. In terms of technology and innovation, KCC will focus on building infrastructures suitable for large-scale usage and development, building a lower-cost layer 2, building a KCC SDK for developers, and intrachain and interchain protocols with greater privacy. In terms of a cross-chain ecosystem, KCC will gradually support the interchain transfer of multiple assets, support interchain DeFi, games, Web3.0 ecosystems, and cross-chain accounts.
KCS Management Foundation will collaborate with KuCoin Exchange and KCC to build a payment system that can serve billions of users. Within the KCS ecosystem, the payment system can connect all projects and participate in all activities. Outside of the KCS ecosystem, the payment system can bridge to the mainstream chains. It will break the digital barriers for both institutions and individual users, thereby lowering the entry barrier of digital payments. So that users can be served more easily and efficiently, which leads to the growth of the KCS ecosystem’s userbase.
KCS Management Foundation will build a Web3.0 ecosystem with KCC as the center. The KCS management foundation will actively explore the following areas:
- Building, funding, and supporting Web3.0 teams as early developers, promoters, and contributors;
- Establishing a Web 3.0 Incubation Fund to accelerate the construction of the Web 3.0 ecosystem;
- Building the KCS-Web 3.0 community and exploring the Web 3.0 together with all KCS holders.
In order to better support the sustainable development and growth of the KCS ecosystem, the KuCoin founders/teams and its advisors/angel investors decided to lock and reallocate their released tokens. Of the 65 million KCS held by the founding team, 20 million will be burned; 20 million will be used as long-term incentives for KCS holders and ecosystem contributors, and 25 million will be donated to the foundation and gradually released in 5 years. Of the 25 million KCS held by advisors and angel investors, 7 million will be donated to the KCS Management Foundation and released linearly over 5 years. 18 million will be held by advisors and angel investors and released linearly over 5 years.
KCC is committed to becoming the center of technology, innovation, and business development with the support of the KCS Fan Community and KuCoin Exchange Ecosystem. A closed ecosystem loop with technological development, product, and users will be created through the process. Click to view more content of the KCS Whitepaper. At the same time, to celebrate the release of the KCS Whitepaper, the KCS Super Week event is about to start. Please stay tuned.