ZeroLend (ZERO) is Available on BurningDrop
04/23/2024, 17:00:03
Dear KuCoin Users,
ZeroLend (ZERO) will be available on BurningDrop from 9:00:00 on April 24, 2024 (UTC). KCS pool will be opened during the subscription period for all users to subscribe. Additionally, during the Burning Acceleration Period, users who have already subscribed can choose to burn KCS to mine more ZERO airdrops.
Participation Ways: Web / App (click here to check the Tutorial)
- Subscription Period: 9:00:00 on April 24, 2024 to 18:00:00 on April 24, 2024 (UTC)
- Burning Acceleration Period: 20:00:00 on April 24, 2024 to 02:00:00 on April 25, 2024 (UTC)
- Staking Period: 02:00:00 on April 25, 2024 to 01:59:59 on May 15, 2024 (UTC)
Products Details:
| Staking Product | KCS-FOR-ZERO-20D |
| ZERO Distribution Coefficient | 1 |
| Hard Cap of Whole Platform | 500,000 KCS |
| Hard Cap of Single User | 350 KCS |
Rewards Distribution:
- Total ZERO Allocation: 333,333,333
- Rewards Distribution: 50% of the ZERO rewards will be distributed before ZERO trading starts in the KuCoin Spot Market. The remaining 50% will be distributed after 1 month from the 1st distribution.
Calculation Method:
1) User’s Initial Allocation F = Individual staking amount of the 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-ZERO-20D section. Assume that the price of KCS at the start of the subscription period is $8. Thus, Alice’s Initial Allocation will be:
50 * 1 * 8 = 400
2) Accelerating Coefficient by burning KCS, namely V = 0.18452 * arctan (3,000 * ε - 2.08) + 0.207166085, wherein ε = Amount of the KCS user burns / F
3) Single User Final Allocation after burning KCS = F’
4) F’ = (V+1) F
User Final Rewards of ZERO = (F’ / Overall Final Allocation) * Total AirDrop of ZERO
What is ZeroLend?
ZeroLend is the largest lending market on L2s - Linea, zkSync, Manta and Blast with a focus on liquid restaking tokens (LRTs) lending, real world assets (RWAs) lending, and account abstraction with over 200+ million in TVL.
Website: https://zerolend.xyz/
Twitter: https://twitter.com/zerolendxyz
Notes:
1. As the number of burned KCS increases, the rewards of each KCS burning may gradually decrease. Users can enter the number of burned KCS on the burning page to test the available acceleration computing power. Please burn rationally.
2. The subscribed KCS tokens will be locked for 20 days.
3. Users must be registered and KYC verified on KuCoin to participate in 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.
5. This activity is not related to Apple Inc.
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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