Pixie (PIX) Is Available on BurningDrop
09/15/2022, 18:00:09
Pixie (PIX) will be available on BurningDrop from 10:00:00 on September 16, 2022 (UTC). Users can mine PIX by staking USDT/KCS/ETH assets. During the Burning Acceleration Period, users who have already staked can enjoy more PIX rewards by burning POL. (All times for this announcement refer to the UTC time zone)
BurningDrop Tutorial: https://youtu.be/EJmTVJVxCGc
Products Details:
| Staking Products | Fixed Income Pool USDT-FOR-PIX-20D | Premium Pool ETH-FOR-PIX-20D | Deluxe Pool KCS-FOR-PIX-20D |
| PIX Distribution Coefficient | 1 | 1.2 | 1.5 |
| Hard Cap of Whole Platform | 1,600,000 USDT | 1,260 ETH | 280,000 KCS |
| Hard Cap of Single User | 1,800 USDT | 1.2 ETH | 200 KCS |
*Subscription Period: 2022/09/16 10:00:00 - 2022/09/16 22:00:00
*Burning Acceleration Period: 2022/09/17 02:00:00 - 2022/09/17 14:00:00
*Staking Period: 2022/09/17 16:00:00 - 2022/10/07 15:59:59
*Issue Price: 1 PIX = 0.005 USDT
*Total Amount of PIX: 40,000,000
*Rewards Distribution: 40% of the PIX rewards will be distributed before PIX trading starts in the KuCoin Spot Market. The remaining 60% will be distributed in 15% 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-PIX-20D section and 0.1 ETH in the ETH-FOR-PIX-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 (20 * 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 Rewards of PIX = (F’ / Overall Final Allocation) * Total Amount of PIX
Introduction of Project: Pixie is THE WORLD’S FIRST FULLY FUNCTIONAL crypto-based photo and video sharing social network in Web3 with SocialFi concepts. It is known as a crypto version of TikTok & Instagram. All social activities (posting, liking, reposting) in Pixie APP are rewarded with PIX token. With more than 30K daily active users and 7 million posts on the platform, Pixie has become one of the biggest social networks in Web3 era and the benchmark of SocialFi project.
Notes:
1. Please note that users from Mainland China are not 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.
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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