Common Wealth (WLTH) is Available on BurningDrop
22/05/2024 17:00:00
Dear KuCoin Users,
Common Wealth (WLTH) will be available on BurningDrop from 9:00:00 on May 23, 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 WLTH airdrops.
Participation Ways: Web / App (click here to check the Tutorial)
- Subscription Period: 9:00:00 on May 23, 2024 to 18:00:00 on May 23, 2024 (UTC)
- Burning Acceleration Period: 20:00:00 on May 23, 2024 to 02:00:00 on May 24, 2024 (UTC)
- Staking Period: 02:00:00 on May 24, 2024 to 01:59:59 on June 13, 2024 (UTC)
Products Details:
| Staking Product | KCS-FOR-WLTH-20D |
| WLTH Distribution Coefficient | 1 |
| Hard Cap of Whole Platform | 340,000 KCS |
| Hard Cap of Single User | 300 KCS |
Rewards Distribution:
- Total WLTH Allocation: 1,666,667
- Rewards Distribution: 50% of the WLTH rewards will be distributed before WLTH trading starts in the KuCoin Spot Market. After 1 month, the remaining 50% will be distributed in 25% batches every month.
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-WLTH-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 WLTH = (F’ / Overall Final Allocation) * Total AirDrop of WLTH
What is Common Wealth?
Common Wealth is an early-stage investment platform democratising venture capital using Web3 technology. It enables retail investors to control their financial future by opening access to 99%, incentivising crowd-sourced wisdom, and promoting better investment and education standards.
With a commitment to integrity and due diligence, Common Wealth ensures trust, reliability, and security. It designs innovative solutions for a more democratic financial system. Combining sound economic principles with Web3, Common Wealth creates a circular protocol, redistributing value to the community. On “All Street,” every investor shares proportionally, recognising all contributions and fostering a collective investment experience.
Website: https://joincommonwealth.xyz/
X (Twitter): https://x.com/joincommonwlth?s=11
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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