Nibiru Chain (NIBI) is Available on BurningDrop
03/07/2024, 23:25:51
Dear KuCoin Users,
Nibiru Chain (NIBI) will be available on BurningDrop from 9:00:00 on March 8, 2024 (UTC). KCS pool will be opened during the subscription period for all users to subscribe. Additionally, during the Burning Acceleration Period, users who have already subscribed can choose to burn KCS to mine more NIBI airdrops.
Participation Ways: Web / App (click here to check the Tutorial)
- Subscription Period: 9:00:00 on March 8, 2024 to 18:00:00 on March 8, 2024 (UTC)
- Burning Acceleration Period: 20:00:00 on March 8, 2024 to 02:00:00 on March 9, 2024 (UTC)
- Staking Period: 02:00:00 on March 9, 2024 to 01:59:59 on March 29, 2024 (UTC)
Products Details:
| Staking Product | KCS-FOR-NIBI-20D |
| NIBI Distribution Coefficient | 1 |
| Hard Cap of Whole Platform | 350,000 KCS |
| Hard Cap of Single User | 300 KCS |
Rewards Distribution:
- Total NIBI Allocation: 3,750,000
- Rewards Distribution: 30% of the NIBI rewards will be distributed before NIBI trading starts in the KuCoin Spot Market. The remaining 70% will be distributed in 35% batches after 1 month from the 1st distribution.
Calculation Method:
1) User’s Initial Allocation F = Individual staking amount of the Product * certain Distribution Coefficient * the price of staked assets in USDT at the start of the Subscription Period
e.g.Alice staked 50 KCS in the KCS-FOR-NIBI-20D section. Assume that the price of KCS at the start of the subscription period is $8. Thus, Alice’s Initial Allocation will be:
50 * 1 * 8 = 400
2) Accelerating Coefficient by burning KCS, namely V = 0.18452 * arctan (3,000 * ε - 2.08) + 0.207166085, wherein ε = Amount of the KCS user burns / F
3) Single User Final Allocation after burning KCS = F’
4) F’ = (V+1) F
User Final Rewards of NIBI = (F’ / Overall Final Allocation) * Total AirDrop of NIBI
What is Nibiru Chain?
Nibiru Chain is a breakthrough L1 blockchain and smart contract ecosystem providing superior throughput and unparalleled security. Nibiru aims to be the most developer-friendly and user-friendly smart contract platform in Web3.
Website: https://nibiru.fi/
Twitter: https://twitter.com/NibiruChain
Notes:
1. As the number of burned KCS increases, the rewards of each KCS burning may gradually decrease. Users can enter the number of burned KCS on the burning page to test the available acceleration computing power. Please burn rationally.
2. The subscribed KCS tokens will be locked for 20 days.
3. Users must be registered and KYC verified on KuCoin to participate in this BurningDrop activity.
4. Users confirm that participating in this activity is voluntary, and the KuCoin Group has not forced, interfered with, or influenced the user's decision in any way.
5. This activity is not related to Apple Inc.
Risk Warning: Cryptocurrency investment is high risk. It is carried out 24/7 without closing. Please pay attention to investment risks before taking part. KuCoin has a strict review process for online projects but will not assume any compensation or other responsibilities for investment behaviors. Please be aware of related risks and be cautious when investing.
Thanks for your support and understanding!
The KuCoin Team
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