KuCoin Will Support the Newscrypto (NWC) Lockup and Cashback Program

03/27/2020, 18:06:25

KuCoin will support the Newscrypto (NWC) lockup and cashback program. This program will start at 00:00:00 on March 30, 2020 (UTC+8).

Rules of the Lockup and Cashback:

  1. How to Lock Up: For users who hold NWC and expect to gain profit, please withdraw NWC to LOCKNWC via the withdrawal page. (Visit the NWC withdrawal page, fill in the NWC address LOCKNWC in the wallet address bar, the lockup address is case-sensitive).
  2. Lockup Period: Users can lock NWC from 00:00:00 on March 30, 2020 to 23:59:59 on April 5, 2020 (UTC+8). The lockup period will last for 90 days.
  3. Lockup Limit: The minimum amount for a single lockup is 10,000 NWC. The individual hard cap is 200,000 NWC. When the total lockup amount reaches 5,870,000 NWC, the program will end ahead of schedule and users will not be able to lock their NWC.
  4. Rate of Return: The annualized rate of return is 60%.
  5. Distribution of Revenue: First lockup revenue will be paid on May 6, 2020 (UTC+8), second lockup revenue will be paid on June 5, 2020 (UTC+8), and the last lockup revenue will be paid on July 5, 2020 (UTC+8). The principal will be returned 1 day after the end of the lockup period.

Notice:

  1. KuCoin prohibits the use of API to withdraw NWC to LOCKNWC.
  2. There is no withdrawal fee when you withdraw NWC to the lockup address.
  3. The NWC sent to the lockup address cannot be unlocked in advance.

Risk-taking: This activity is only supported by KuCoin and the return is provided by Newscrypto (NWC). It does not mean that the platform provides any form of guarantee or guarantee for the user to obtain the estimated income. The actual income obtained by the user is inconsistent with the estimated return, and the participating users voluntarily assume such risk. The final interpretation of this event belongs to the platform.

The KuCoin Team