Cryptocurrencies used to be synonymous with blockchains. However, exchange platforms have been issuing their native tokens lately using prominent blockchains. In this list is Huobi Global and KuCoin. This article explores their use-cases, how they work, and the better investment of the pair.
KuCoin launched KuCoin Shares (KCS) as its utility token in 2017. It was issued on the Ethereum blockchain. There is a total supply of 200 million KCS, half of which would be repurchased and burnt to leave 100 million in circulation. Holders of at least 6 KCS will be rewarded daily with KCS bought back with 50% of KuCoin’s daily trading fees. KCS can be used to pay discounted trading fees on KuCoin.
It can be used on SwirlPay, PlayGame, Splinterlands, Constant, CoinPayments, and many more. In January 2021, KuCoin began a monthly buyback and burning of KCS using 10% of its net profit as a deflationary measure. KuCoin plans to turn it into a native token that would be used on financial services by KuCoin. Also, it will be used as a governance token for the KuCoin community in the future.
Huobi Token (HT) was released in 2018. Holders can participate in the platform’s governance, enjoy rewards, and gain access to special events. It is an ERC-20 token that powers the network and rewards users. It also functions in the HECO Chain for DeFi platforms.
Like tokens of the same kind, they will be burnt monthly. Huobi plans to buy back HT with 20% of the revenue generated. Holders can enjoy up to a 65% discount on trading fees. Also, they can access new crypto projects on Huobi Prime and earn from them.
Although KCS is worth more than HT ($17.54 to $9.00), HT has a higher market cap ($1.4 billion to $1.3 billion). HT is the better investment of the duo due to its numerous functions. It would make a profitable investment in the long run.
Unlike most cryptocurrencies, they might not be entirely decentralized. As such, deal wisely and do your research before investing.
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