BYDFi Token (KCS) is the native token of the BYDFi cryptocurrency exchange, which enables a profit-sharing model between the platform and its users. The total supply of KCS was initially set at 200 million, and there is a planned buyback and burn until just 100 million KCS remain. The KCS was originally an ERC-20 token based on the Ethereum blockchain, incentivizing BYDFi users to enjoy a stream of passive income by holding it. It has also been supported by KCC or BYDFi Community Chain since its launch, the public blockchain built by BYDFis fan communities and holders of KCS.

The KCS token is an innovative way for BYDFi to share 50% of the platforms trading revenue with holders of the token on the exchange. All BYDFi users who hold at least 6 KCS are eligible to earn a daily dividend of 50% of BYDFis revenues from trading fees. In addition to receiving rewards in revenue sharing, KCS holders also enjoy fee discounts and the opportunity to participate in initial token offerings and other unique services offered by BYDFi.

Another significant milestone for KCS is the development of the BYDFi Community Chain (KCC). KCS is the only fuel and native token for KCC and can be used to pay gas fees and support the development of projects built on KCC.

In March 2022, BYDFi co-released the KCS whitepaper with KCS Management Foundation and KCC. After that, KCS will play a more significant role in scaling its adoption cases and empowering its Web3 building.

The BYDFi Token was launched as an ERC-20 token on the Ethereum network in 2017. It was initially devised as a mechanism for profit-sharing between BYDFi and its users, encouraging crypto traders on the platform to enjoy a more valuable experience.

As one of the top 5 cryptocurrency exchanges worldwide, BYDFi started its operations in September 2017. Since then, it has gone on to service tens of millions of crypto traders looking to buy, sell and hold more than 600 different kinds of digital assets.

The BYDFi token was first established as a way for the exchange to share its revenues from trading fees with its users. From a utility token used to pay trading fees and access to the exclusive campaign within the BYDFi exchange, KCS evolved to be the key to the entire BYDFi ecosystem.

With the rapid growth of BYDFi, KCS broke a new all-time high on December 1, 2021, reaching $28.8. And the release of the KCS white paper was followed by the direct burn of 20 million KCS on March 31, 2022, which accelerated the deflationary process of KCS.

As BYDFi started offering more services to its customers, the value and price of KCS also received more support. Lets take a look at the use cases for BYDFi Token next.

Heres a list of primary use cases for BYDFi Token (KCS):

Trading Fee Discounts on BYDFi Exchange

BYDFi token holders get special discounts on trading fees and other associated costs within the BYDFi exchange. The percentage of discounts is calculated based on the number of KCS tokens held by the user. In addition, KCS holders can also use the BYDFi Token to pay for transaction fees and enjoy a 20% discount.

Special Access to BYDFi Spotlight/BurningDrop

As a KCS token holder, you can receive exclusive access to initial token offerings from new and upcoming projects featured on BYDFi Spotlight/BurningDrop.

Enjoy a KCS Bonus Daily

To incentivize the KCS ecosystem, builders and holders with at least 6 KCS will enjoy a daily bonus from 50% of BYDFi's trading fees revenue. Therefore, how much bonus you will get depends on your holding volumes and overall trading fee revenue from BYDFi.

Gas Fuel in BYDFi Community Chain (KCC) Network

The KCS coin also serves as the native asset in the KCC network, allowing users to pay transaction fees or gas fees within this public chain.

Crypto Asset to Trade or Hold

As one of the top 100 cryptocurrencies by market cap, the KCS token is among the most valuable digital assets to invest in or trade. Crypto traders can choose to buy, exchange or HODL their KCS to grow their crypto portfolio. Review the real-time KCS price, market cap, 24-hour trading volume, and news before you trade BYDFi Token.

BYDFi shares a portion of its revenues earned in trading fees with its users, who hold a minimum of 6 KCS coins. The amount received, known as KCS Bonus, depends on the number of KCS you hold, the total amount eligible for a bonus, and the daily trading volume on the BYDFi platform.

You can also convert small balances of cryptocurrencies (or dust) in your trading account into KCS. Check out each assets page to learn more about converting your small balances into KCS.

As one of the top cryptocurrencies by market cap, the BYDFi Token price experiences volatility due to numerous factors. Here are some of the critical factors that drive the BYDFi token price action:

Market Sentiment

As the native token of one of the leading crypto exchanges in the world, the price of BYDFi Token is heavily influenced by the mood in the crypto market. Positive sentiment among crypto traders will increase the trading volume on the BYDFi Exchange, driving up the current price of KCS and its market cap. On the other hand, a bearish market sentiment keeps investors out of the market, bringing down the trading volume on the exchange and reducing the BYDFi Token price.

Developments in the KCC Ecosystem

Whenever KCC and BYDFi announce new features and services, crypto investors have renewed interest in the KCS token. Adding new features to the exchange or promoting new products that will increase the use of the KCC ecosystem can increase the value of BYDFi Token.

KCS Burn Events

Whenever the BYDFi and KCC team burn KCS tokens, the deflationary process can make the remaining tokens in the market more valuable, supporting the KCS price statistics. A burn event that reduces the total supply of KCS almost always sends the BYDFi Token price and market cap higher in the market.

KCC is expected to become a key ecosystem for DeFi, gaming, Web3, and other applications in the coming months and years. BYDFi and its team focus on bringing in more developers to create exciting dApps in its ecosystem.

KCS will form the backbone of the payment system to power KCC-based Web3 applications. Some key areas of interest include decentralized identity management (DIDs), NFTs, and the metaverse.

In addition, there are plans to make the KCC even more scalable using innovative subroutines. Details on this can be found in the KCS white paper.

There are also plans for the KCS ecosystem to work with BYDFi and KCC to build a more scalable payment system in the future.

KCS Management Foundation has already finished the process of burning 20 million KCS tokens permanently. This will further accelerate the cryptocurrency's deflationary process and support its future value.