Amulet (AMU) is Available on BurningDrop
01/16/2024, 17:06:17
Dear KuCoin Users,
Amulet (AMU) will be available on BurningDrop from 9:00:00 on January 17, 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 AMU airdrops.
Participation Ways: Web / App (click here to check the Tutorial)
- Subscription Period: 9:00:00 on January 17, 2024 to 18:00:00 on January 17, 2024 (UTC)
- Burning Acceleration Period: 20:00:00 on January 17, 2024 to 02:00:00 on January 18, 2024 (UTC)
- Staking Period: 02:00:00 on January 18, 2024 to 01:59:59 on Febuary 7, 2024 (UTC)
Products Details:
| Staking Product | KCS-FOR-AMU-20D |
| AMU Distribution Coefficient | 1 |
| Hard Cap of Whole Platform | 600,000 KCS |
| Hard Cap of Single User | 350 KCS |
Rewards Distribution:
- Total AMU Allocation: 10,000,000
- Rewards Distribution: 25% of the AMU rewards will be distributed before AMU trading starts in the KuCoin Spot Market. The remaining 75% will be distributed in 25% every batch 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-AMU-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 AMU = (F’ / Overall Final Allocation) * Total AirDrop of AMU
What is Amulet?
Amulet is the first Web3 platform that combines investment and insurance, empowering web3 users to earn safely with built-in loss protection.
Amulet is deeply rooted in the Solana ecosystem, with its V1 started as the first and only DeFi insurance protocol on Solana since early 2022. In Amulet V2, it has been upgraded to a one-stop platform to fuse yield and protection. Meanwhile, Amulet has been expanding to the wider Web3 space including Ethereum and its L2s.
Backed by Solana Ventures, Gumi Cryptos, Animoca Brands and other top investors, Amulet’s vision is simple and clear - build a safe space where web3 users of all levels can earn with peace of mind.
Website: http://www.amulet.org
Twitter: https://twitter.com/amuletprotocol
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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