Artfi (ARTFI) is Available on BurningDrop
06/11/2024, 17:00:18
Dear KuCoin Users,
Artfi (ARTFI) will be available on BurningDrop from 9:00:00 on June 12, 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 ARTFI airdrops.
Participation Ways: Web / App (click here to check the Tutorial)
- Subscription Period: 9:00:00 on June 12, 2024 to 18:00:00 on June 12, 2024 (UTC)
- Burning Acceleration Period: 20:00:00 on June 12, 2024 to 02:00:00 on June 13, 2024 (UTC)
- Staking Period: 02:00:00 on June 13, 2024 to 01:59:59 on July 3, 2024 (UTC)
Products Details:
| Staking Product | KCS-FOR-ARTFI-20D |
| ARTFI Distribution Coefficient | 1 |
| Hard Cap of Whole Platform | 350,000 KCS |
| Hard Cap of Single User | 300 KCS |
Rewards Distribution:
- Total ARTFI Allocation: 3,333,333
- The ARTFI rewards distribution will be: 25% of the ARTFI rewards will be distributed before ARTFI trading starts in the KuCoin Spot Market, followed by a 3-month waiting period. After that, the remaining rewards will be distributed monthly over the next 3 months.
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-ARTFI-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 ARTFI = (F’ / Overall Final Allocation) * Total AirDrop of ARTFI
What is Artfi?
Artfi is an Art-Technology company on a mission to democratize the $1.7 trillion fine art market.
By harnessing the power of NFTs and blockchain technology, Artfi allows collectors to own a stake in valuable works of art. Artfi is a Web3 solution for fine art collecting.
The company fractionalizes prominent high-value artworks into multiple NFTs which are sold to the public. Collectors who own Artfi NFTs gain access to the exclusive blue chip fine art market and diversify their portfolios – all through the speed, security and comfort of the blockchain.
The tokenization of real world assets will be a defining trend of the next decade and Artfi is at the forefront of this process.
Artfi fractionalizes physical works of blue chip art so that they can be collectively owned by token holders around the world.
Website: https://artfi.world/
X (Twitter): https://x.com/artfiglobal
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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