LaunchX (LNCHX) Is Available on BurningDrop
05/12/2021, 12:05:54
Dear Pool-X Users,
LaunchX (LNCHX) will be available on Pool-X BurningDrop from 10:00:00 on May 12, 2021 (UTC). In this campaign, the total distribution of LNCHX tokens is 400,000. Users can mine LNCHX by staking USDT/KCS/ETH assets. During the Burning Acceleration Period, users who have already staked can enjoy more LNCHX rewards by burning Dao Maker(DAO).
The details are as follows. (All times for this announcement refer to the UTC time zone)
Products Details:
| Staking Products | Fixed-Income Pool USDT-FOR-LNCHX-20D | Premium Pool ETH-FOR-LNCHX-20D | Deluxe Pool KCS-FOR-LNCHX-20D |
| LNCHX Distribution Coefficient | 1 | 1.2 | 1.5 |
| Hard Cap of Whole Platform | 500,000 USDT | 230 ETH | 70,000 KCS |
| Hard Cap of Single User | 1,500 USDT | 0.5 ETH | 125 KCS |
Timeline and Rules : (Go to BurningDrop)
*Subscription Period: 2021/05/12 10:00:00 - 2021/05/13 10:00:00
*Burning Acceleration Period: 2021/05/13 14:00:00 - 2021/05/14 14:00:00
*Staking Period: 2021/05/14 16:00:00 - 2021/06/03 15:59:59
*Total Amount of LNCHX: 400,000
*LNCHX Distribution Rules: 40% will be distributed on May 17, 2021, 30% will be distributed after 3 months from the 1st distribution and 30% will be distributed after 6 months from the 1st distribution.
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 100 KCS in the KCS-FOR-LNCHX-20D section and 0.5 ETH in the ETH-FOR-LNCHX-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 4,000 USDT. Thus, Alice’s Initial Allocation will be:
100 * 1.5 * 13 + 0.5 * 1.2 * 4,000 =4,350
2）Accelerating Coefficient by burning DAO, namely V = 0.18452 * arctan (1500 * ε - 2.08) + 0.207166085, wherein ε = Amount of the DAO user burns / F
3）Single User Final Allocation after burning DAO = F’
4）F’ = (V+1) F
User Final Allocation of LNCHX = (F’/ Overall Final Allocation) * Total Amount of LNCHX
Introduction of LaunchX: LaunchX is a cross-chain, B2B ecosystem that gives startups the flexibility to raise capital in a decentralized manner across multiple blockchains.
LaunchX Official Website: https://launchx.finance
Notes：
1. Users need to be registered on KuCoin or Pool-X to join this BurningDrop activity.
2. 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 in high risk. It is carried out 24/7 without closing. Please pay attention to investment risks. Pool-X will have 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 Pool-X Team
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