UnoRe (UNO) Is Available on BurningDrop
Dear KuCoin Users,
UnoRe (UNO) will be available on BurningDrop from 10:00:00 on May 21, 2021 (UTC). Users can mine UNO by staking USDT/KCS/DOT assets. During the Burning Acceleration Period, users who have already staked can enjoy more UNO rewards by burning POL (All times for this announcement refer to the UTC time zone)
Products Details:
| Staking Products | Fixed Income Pool USDT-FOR-UNO-20D | Premium Pool DOT-FOR-UNO-20D | Deluxe Pool KCS-FOR-UNO-20D |
| UNO Distribution Coefficient | 1 | 1.3 | 1.5 |
| Hard Cap of Whole Platform | 800,000 USDT | 33,333 DOT | 187,500 KCS |
| Hard Cap of Single User | 500 USDT | 18 DOT | 60 KCS |
Timeline and Rules: (Go to BurningDrop)
*Subscription Period: 2021/05/21 10:00:00 - 2021/05/22 10:00:00
*Burning Acceleration Period: 2021/05/22 14:00:00 - 2021/05/23 14:00:00
*Staking Period: 2021/05/23 16:00:00 - 2021/06/12 16:00:00
*Total Amount of UNO: 320,000
*Rewards Distribution: 40% UNO rewards will be distributed on May 27, 2021, while the remaining 60% will be distributed 2 months later.
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-UNO-20D section and 500 USDT in the USDT-FOR-UNO-20D section. Assume that the price of KCS at the start of the Subscription Period is 11 USDT. Thus, Alice’s Initial Allocation will be:
50 * 1.5 * 11 + 500 * 1 * 1 =1,325
2) Accelerating Coefficient by burning POL, namely V = 0.18452 * arctan (100 * 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 UNO = (F’/ Overall Final Allocation) * Total Amount of UNO
Introduction of Project: UnoRe will be the world’s first multi-chain insurance risk trading platform. The exchange will remove barriers to entry for mass market users to trade in previously inaccessible and highly profitable risk based assets.
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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