Legends of Crypto (LOCG) BurningDrop — DAO Burning Rules
04/30/2021, 18:05:09
Dear Pool-X Users,
Legends of Crypto (LOCG) BurningDrop will step into the Burning Acceleration Period at 10:00:00 on May 1, 2021 (UTC). Users who have already successfully staked USDT/ETH/KCS assets can increase the computing power of LOCG by burning DAO.
After the burning starts, users can check the relative changes of computing power on the Pool-X burning page. (All times for this event refer to the UTC time zone)
The rules are as follows:
1. The calculation method during DAO Burning Acceleration Period:
1）User Initial Allocation after staking = F
2）Accelerating Coefficient by burning DAO = V
3）Single User Final Allocation after burning DAO = F’
4）F’ = (V+1) F
5）V = 0.18452 * arctan (1900 * ε - 2.08) + 0.207166085
6）ε = Amount of the DAO user burns/F
After taking the Accelerating Coefficient into account,
User Final Allocation of LOCG = Total Amount of LOCG/ Overall Final Allocation * F’
2. After the Burning Acceleration Period ends, the staking period will start. 33% of LOCG rewards will be distributed to the Pool-X account for the first time on May 3, 2021, 33% will be distributed in the following month, and 34% will be distributed in the third month.
Thanks for your support!
The Pool-X Team