The Second Mystery SUI Ecosystem Project With BurningDrop
05/12/2023, 09:44:33
Dear KuCoin Users,
KuCoin is proud to announce that the second SUI Ecosystem project with BurningDrop will be available from 10:00:00 on May 12, 2023 (UTC)!
KCS and SUI staking pools will be opened during the subscription period for all users to subscribe. In addition, during the Burning Acceleration Period, users who have already subscribed can choose to burn POL (the native token of KuCoin Earn Platform) to mine more airdrops for this event.
We will disclose more project information around its listing.
- Subscription Period: 10:00:00 on May 12, 2023 to 18:00:00 on May 12, 2023 (UTC)
- Burning Acceleration Period: 20:00:00 on May 12, 2023 to 02:00:00 on May 13, 2023 (UTC)
- Staking Period: 02:00:00 on May 13, 2023 to 01:59:59 on June 2, 2023 (UTC)
Participation Ways: Web / App (click here to check the Tutorial）
Products Details:
| Staking Products | KCS-FOR-MysteryToken2 | SUI-FOR-MysteryToken2 |
| Airdrop Token Distribution Coefficient | 1 | 1.2 |
| Hard Cap of Whole Platform | 200,000 KCS | 1,720,000 SUI |
| Hard Cap of Single User | 350 KCS | 2,000 SUI |
Rewards Distribution: 20% of the token airdrop rewards will be distributed before its trading starts in the KuCoin Spot Market. The 20% of the token airdrop rewards will be distributed in the second month, and the remaining 60% will be distributed in 30% batches every month from the 2nd 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 Pool and 100 SUI in the SUI pool. Assume that the price of KCS at the start of the Subscription Period is $8 and the price of SUI at the start of the Subscription Period is $10. Thus, Alice’s Initial Allocation will be:
50 * 1 * 8 + 100 * 1.2 * 10 = 1,600
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 Airdrop Rewards= (F’ / Overall Final Allocation) * Total Amount of Airdrop Allocation
Notes:
1. 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;
2. Users need to be registered on KuCoin to join the BurningDrop activity;
3. Users need to 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;
4. 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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