AXIA (AXC) Is Available on BurningDrop
07/12/2021, 10:10:07
Dear KuCoin Users,
AXIA (AXC) will be available on BurningDrop from 10:00:00 on July 12, 2021 (UTC). Users can mine AXC by staking USDT/KCS/ETH assets. During the Burning Acceleration Period, users who have already staked can enjoy more AXC rewards by burning POL. (All times for this announcement refer to the UTC time zone)
Products Details:
| Staking Products | Fixed Income Pool USDT-FOR-AXC-20D | Premium Pool ETH-FOR-AXC-20D | Deluxe Pool KCS-FOR-AXC-20D |
| AXC Distribution Coefficient | 1 | 1.2 | 1.5 |
| Hard Cap of Whole Platform | 1,000,000 USDT | 580 ETH | 130,000 KCS |
| Hard Cap of Single User | 1,500 USDT | 0.8 ETH | 130 KCS |
Timeline and Rules: (Go to BurningDrop)
*Subscription Period: 2021/07/12 10:00:00 - 2021/07/13 10:00:00
*Burning Acceleration Period: 2021/07/13 14:00:00 - 2021/07/14 14:00:00
*Staking Period: 2021/07/14 16:00:00 - 2021/08/03 15:59:59
*Total Amount of AXC: 100,000
*Rewards Distribution: All AXC rewards will be distributed before AXC trading starts in the KuCoin Spot Market.
Calculation Method:
1) User’s Initial Allocation F = ∑(Individual staking amount of the chosen Staking 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-AXC-20D section and 0.1 ETH in the ETH-FOR-AXC-20D section. Assume that the price of KCS at the start of the Subscription Period is 13 USDT, and the price of ETH at the start of the Subscription Period is 3,400 USDT. Thus, Alice’s Initial Allocation will be:
50 * 1.5 * 13 + 0.1 * 1.2 * 3,400 =1,383
2) Accelerating Coefficient by burning POL, namely V = 0.18452 * arctan (90 * ε - 2.08) + 0.207166085, wherein ε = Amount of the POL user burns / F
3) Single User Final Allocation after burning POL = F’
4) F’ = (V+1) F
User Final Allocation of AXC = (F’/ Overall Final Allocation) * Total Amount of AXC
Introduction of Project: AXIA Coin is an asset-supported global currency, utilizing innovative blockchain and smart contract technology standards to upend traditional financial structures, lower participant costs and advance a more equitable and inclusionary economic model on a global scale. As a network, AXIA integrates multiple complementary applications and platforms that will pioneer the pace of the decentralized economy to drive mainstream adoption in improving business processes globally. The currency provides sophisticated solutions that serve as an ideal replacement to the fiat payment system and also improve on the existing cryptocurrency models.
Notes:
1. As the number of burned POL increases, the rewards of each POL burning may gradually decrease. Users can enter the number of burned POL on the burning page to test the available acceleration computing power. Please burn rationally.
2. Users need to be registered on KuCoin to join this BurningDrop activity.
3. 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.
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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