MetaMecha (MM) Is Available on BurningDrop
11/02/2022, 11:50:01
MetaMecha (MM) will be available on BurningDrop from 10:00:00 on November 2, 2022 (UTC). Users can mine MM by staking KCS/MC assets. During the Burning Acceleration Period, users who have already staked can enjoy more MM rewards by burning MC. (All times for this announcement refer to the UTC time zone)
Products Details:
| Staking Products | Premium Pool KCS-FOR-MM-20D | Deluxe Pool MC-FOR-MM-20D |
| MM Distribution Coefficient | 1 | 1.5 |
| Hard Cap of Whole Platform | 400,000 KCS | 2,000,000 MC |
| Hard Cap of Single User | 250 KCS | 5,000 MC |
*Subscription Period: 2022/11/02 10:00:00 - 2022/11/02 22:00:00
*Burning Acceleration Period: 2022/11/03 04:00:00 - 2022/11/03 14:00:00
*Staking Period: 2022/11/03 16:00:00 - 2022/11/23 15:59:59
*Issue Price: 1 MM = 0.01 USDT
*Total Amount of MM: 40,000,000
*Rewards Distribution: 50% of the MM rewards will be distributed before MM trading starts in the KuCoin Spot Market. The remaining 50% will be distributed in 25% batches every month from the 1st distribution.
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-MM-20D section and 1,000 MC in the MC-FOR-MM-20D section. Assume that the price of KCS at the start of the Subscription Period is 13 USDT, and the price of MC at the start of the Subscription Period is 0.2 USDT. Thus, Alice’s Initial Allocation will be:
50 * 1 * 13 + 1,000 * 1.5 * 0.2 =950
2) Accelerating Coefficient by burning MC, namely V = 0.18452 * arctan (20 * ε - 2.08) + 0.207166085, wherein ε = Amount of the MC user burns / F
3) Single User Final Allocation after burning MC = F’
4) F’ = (V+1) F
User Final Rewards of MM = (F’ / Overall Final Allocation) * Total Amount of MM
Notes:
1. Please note that users from Mainland China are not eligible to participate in this event.
2. As the number of burned MC increases, the rewards of each MC burning may gradually decrease. Users can enter the number of burned MC 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.
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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