FireStarter (FLAME) Is Available on BurningDrop
Dear KuCoin Users,
FireStarter (FLAME) will be available on BurningDrop from 10:00:00 on October 12, 2021 (UTC). Users can mine FLAME by staking USDT/KCS/ETH assets. During the Burning Acceleration Period, users who have already staked can enjoy more FLAME rewards by burning POL. (All times for this announcement refer to the UTC time zone)
Products Details:
| Staking Products | Fixed Income Pool USDT-FOR-FLAME-20D | Premium Pool ETH-FOR-FLAME-20D | Deluxe Pool KCS-FOR-FLAME-20D |
| FLAME Distribution Coefficient | 1 | 1.2 | 1.5 |
| Hard Cap of Whole Platform | 1,000,000 USDT | 335 ETH | 133,000 KCS |
| Hard Cap of Single User | 2,000 USDT | 0.8 ETH | 200 KCS |
Timeline and Rules: (Go to BurningDrop)
*Subscription Period: 2021/10/12 10:00:00 - 2021/10/12 22:00:00
*Burning Acceleration Period: 2021/10/13 02:00:00 - 2021/10/13 14:00:00
*Staking Period: 2021/10/13 16:00:00 - 2021/11/02 15:59:59
*Issue Price: 1 FLAME = 0.06 USDT
*Total Amount of FLAME: 1,666,666
*Rewards Distribution: 10% of the FLAME rewards will be distributed before FLAME trading starts in the KuCoin Spot Market. The remaining 90% will be distributed in 10% batches every month.
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-FLAME-20D section and 0.1 ETH in the ETH-FOR-FLAME-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 (60 * 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 FLAME = (F’/ Overall Final Allocation) * Total Amount of FLAME
Introduction of Project: FireStarter is the first Initial Metaverse Offering (or IMO) launchpad on the Polygon network that incubates and launches GameFi, Social Token, NFT and DeFi projects by way of the metaverse. FireStarter only incubates top tier projects, typically comprised of celebrity and engineering centric teams as our real world experience in media (Forbes, Nike, Supreme, Rolling Stones Magazine etc) as well as in crypto allows us to bridge the gap between the mainstream and crypto.
Notes:
1. Please note that users from Mainland China are no longer eligible to participate in this event.
2. 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.
3. Users need to be registered on KuCoin to join this BurningDrop activity.
4. 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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