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KuCoin will partially unlock 100 million KuCoin Shares (KCS) on September 3

On August 28, a crypto exchange KuCoin announced that as stated in the original KuCoin white paper, 100 million KuCoin Shares (KCS), held by Angel Investors, Industry Stars and Founders are to be partially unlocked on September 3, 2018.

The exchange also announced that it had extended the lock-up period for the tokens held by founders and angel investors:

“After discussing the partial release of the tokens, with all parties holding locked KCS, they decided that these tokens will remain locked for an additional year, until September 2, 2019.  The agreement was made to help promote the growth and expansion of the exchange.”

KuCoin also added that the total amount of the locked tokens was reduced from 100 to 90 million after the ICO.  Ten million of the locked tokens were already distributed to ICO participants as rewards.  Currently, the locked tokens are placed in cold storage.

According to CoinMarketCap, KCS is trading at $1,41 (2,52% in a 24-hour period) at press time.