ParallelChain (XPLL) Is Available on BurningDrop
01/06/2023 18:04:09
ParallelChain (XPLL) will be available on BurningDrop at 10:00:00 on June 2, 2023 (UTC). The KCS pool 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 KCS to mine more XPLL airdrops.
Participation Ways: Web / App (click here to check the Tutorial)
Timeline:
- Subscription Period: 10:00:00 on June 2, 2023 to 18:00:00 on June 2, 2023 (UTC)
- Burning Acceleration Period: 20:00:00 on June 2, 2023 to 02:00:00 on June 3, 2023 (UTC)
- Staking Period: 02:00:00 on June 3, 2023 to 01:59:59 on June 23, 2023 (UTC)
Products Details:
| Staking Product | KCS-FOR-XPLL-20D |
| XPLL Distribution Coefficient | 1 |
| Hard Cap of Whole Platform | 460,000 KCS |
| Hard Cap of Single User | 350 KCS |
Rewards Distribution:
- Total XPLL AirDrop:131,579 XPLL
- Rewards Distribution: 30% of the XPLL rewards will be distributed before XPLL trading starts in the KuCoin Spot Market. The other 70% of the XPLL rewards will be distributed in 35% batches every month from the 1st distribution.
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-XPLL-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 (2,000 * 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 XPLL = (F’ / Overall Final Allocation) * Total AirDrop of XPLL
Website: https://parallelchain.io
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. Users need to be registered on KuCoin to join this BurningDrop activity.
3. 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.
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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