What is KUSD token?

KUSD is a semi-stable token of the KickEX exchange that is backed with proof-of trading and a fixed price within the Kick Ecosystem. The KUSD token is rewarded to traders for their trading volumes on the KickEX exchange. A trader receives 1 KUSD for every 2 USDT of the trading fee they paid.

In the KickEcosystem, KUSD is accepted at a price of $1 and is used as a means of payment or as a means of mutual settlements between parties participating in the ecosystem. That is why the KUSD token is a half stablecoin, or semi-stablecoin. On the one hand, it is not yet backed by dollar reserves, like USDT. On the other hand, it will be unprofitable for users and all ecosystem partners to sell it below the $1 price point and buy it for more than the $1 price point.

Currently, KUSD tokens are only available on the KickEX exchange but, in the near future, KUSD will become an ERC-20 token on the Ethereum blockchain. On the KickEX exchange, the KUSD token will be traded in pairs with all other cryptocurrencies and tokens, thus becoming a main cryptocurrency as BTC, ETH and USDT.

Users and contractors will be able to use KUSD in the following scenarios:

  • KUSD lowers the trading fees for those traders who keep a token in their wallet on KickEX. You can read more about the KickEX fee structure and coverage with KUSD tokens here.
  • KUSD will allow over a million users to unfreeze the previously received Frozendrop of 888,888 frozen KickTokens. A detailed description of the defrost mechanics will be announced very soon.

In the future, KUSD will be used as the main unit of accounting between counterparties of the exchange, KickEX brokers, marketplaces, the fundraising platform, and other partners, since it is a semi-stable token with a fixed price of $1.