KuCoin, a Singapore-based cryptocurrency exchange, announced today that it has boosted its daily bonus rewards for KuCoin Token (KCS) holders to 50% of all platform transaction fees.

According to the announcement, KuCoin has made the decision to make future daily payouts solely in KuCoin’s exchange token, KCS, instead of every cryptocurrency traded on the exchange.

KuCoin plans to upgrade the KuCoin Bonus starting on July 10th, 2018. To accomplish this, we will use 50% of all trading fees earned by KuCoin to buy KCS from the market and then redistribute the KCS back to users as the new KuCoin Bonus Program, replacing the old one.

KuCoin also recently announced that users may now invite their friends to join the exchange and receive up to 20% referral bonus each an invitee completes an order.

KuCoin has over 140 altcoin listings on its platform, including DragonChain (DRGN), OmiseGO (OMG), Cappasity (CAPP), Civic (CVC), DeepBrainChain (DBC), Qtum (QTUM) and TenX (TENX).

KCS’s price has been largely flat-to-positive over the last three months, from around $2.60 to $3.05. The exchange token now has a market cap of $276 million.

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More: KuCoin Bonus Upgrade
Related: Crypto Exchange KuCoin Announces New Referral Program

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.