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Buyback for Bitdealer (BIT) Spotlight Subscription Shares

Buyback for Bitdealer (BIT) Spotlight Subscription Shares

11/29/2025, 12:03:02
CustomDear KuCoin Users,
Thank you for participating in the BIT Spotlight event on KuCoin. Since the trading price of BIT has fallen below the initial subscription price of $0.035 and has remained under this level for more than 48 hours, we will launch a buyback program at the original Spotlight participation price to protect user interests.
Users' losses will be fully covered at 100%, while those who generate profits can retain 100% of their earnings, unaffected by this buyback.
Buyback Mechanism Details
  • Eligibility: All Spotlight participants who subscribed to tokens via the Spotlight and have incurred a loss—defined as the total selling value being lower than the original subscription cost—are eligible for the buyback. Please note that BIT tokens obtained through the following methods are NOT eligible for the buyback:
    • Tokens transferred from other platforms
    • Tokens received through other distribution channels
  • Buyback Price: The buyback will be executed at the subscription price of $0.035 per BIT. If you subscribed using KCS and received a discount, the buyback price will reflect your actual discounted price.
  • Click here to fill out the buyback form
Definition of Losses
  • Loss Calculation: A loss is deemed to occur if either (i) there are any unsold tokens, or (ii) (Order Amount Sold × Average Selling Price) < Subscription Cost.
  • Examples:
    • Example 1 (Loss): A user subscribed to 100 BIT tokens (costing 3.5 USDT) and has not sold any. This user meets the buyback eligibility criteria.
    • Example 2 (Loss): A user subscribed to 100 BIT with a 10% discount (costing 0.269646 KCS), and has not sold any. This user meets the eligibility buyback criteria, and we will buyback the tokens at 0.269646 KCS.
    • Example 3 (Loss): A user subscribed to 100 BIT tokens (costing 3.5 USDT), sold 50 tokens at 0.03 USDT each and 50 tokens at 0.02 USDT each. The average selling price was 0.025 USDT, resulting in total returns of 2.5 USDT (a loss of 1 USDT). This user meets the buyback eligibility criteria.
    • Example 4 (Profit): A user subscribed to 100 BIT tokens (costing 3.5 USDT), sold 50 tokens at 0.06 USDT (NOT HAPPENED) each and 50 tokens at 0.03 USDT each. The average selling price was 0.045 USDT, resulting in total returns of 4.5 USDT (a profit of 1 USDT). As this user made a profit, they are not eligible for the buyback.
    • Example 5 (Out of Scope): A user subscribed to 100 BIT tokens (costing 3.5 USDT) and has not sold any. However, since the assets were transferred (including internal transfers or withdrawals), this does not meet the eligibility, and the user is not eligible for the buyback.
    • Example 6 (Out of Scope): A user subscribed to 100 BIT tokens (costing 3.5 USDT), additionally purchased 100 tokens at 0.045 USDT each (costing 4.5 USDT), and sold 200 tokens at 0.035 USDT each. The total cost amounted to 8 USDT, while the selling returns were 7 USDT (a loss of 1 USDT). As this loss resulted from secondary market trading, the user is not eligible for the buyback.
Please submit the buyback form before 09:00 on December 1, 2025 (UTC). And the buyback will be distributed starting at 09:00 on December 3, 2025 (UTC).
Important Notes:
  • Ensure the form includes accurate information: UID and subscribed BIT amount.
  • KuCoin will review the trading and holding activities of users who submitted the buyback form from November 27th at 12:00 UTC to November 29th at 12:00 UTC. To ensure your eligibility for the buyback, please keep your tokens in your trading account and avoid any further actions.
  • Please make sure your TRADING ACCOUNT holds the same amount of BIT tokens as your original subscription amount during the buyback process. BIT locked in GemPool campaign needs to be unlocked and placed in the trading account. If any tokens have been sold, they may repurchase them from the market to meet the requirement.
  • KuCoin will deduct the corresponding BIT tokens from your TRADING ACCOUNT and send USDT or KCS (based on the token you subscribed to) at the original price. For KCS, the buyback will utilize the USDT-converted price at settlement ($11.68197253).
  • If you have any questions about the buyback, please reach out to our customer service by December 5th at 09:00 UTC. Inquiries and appeals received after this deadline will not be accepted or addressed.
Click here to fill out the buyback form.
Thank you for your continued support.
The KuCoin Team
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