KuCoin to Extend Founders’ and Angel Investors’ Token Lock-Up Period for an Additional Year

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Dear KuCoin Users,

As stated in the original KuCoin white paper (see screenshot below), 100 million KCS, held by Angel Investors, Industry Stars and Founders are to be partially unlocked on September 3, 2018. Now, we are happy to announce that we have 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.

*NOTE*

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; you can check them out at:

https://etherscan.io/address/0x4768b5168a8f2bfdd76de03faa834839ccf75d9f

Thank you for your support and understanding!

The KuCoin Team