Exciting Upgrades on KuCoin Spotlight and Introduction to Brand-New Participation Rules
04/04/2023 22:40:18
Dear KuCoin Users,
We are pleased to announce that we’ve finished significant upgrades to our Spotlight. Improvements have been designed to enhance user experience, from page interactions to UI design, making it more user-friendly, intuitive, and visually appealing. We firmly believe that these upgrades will significantly improve your experience on KuCoin.
To mark the global launch of the upgraded KuCoin Spotlight, we will introduce the “Brand-New Participation Rules”, which are based on the Token Holdings' Net Asset Value (NAV) of the users.
Here are the main changes for participation:
- Users can participate by holding designated tokens;
- The allocation of participation tickets will be calculated based on the amount of Net Asset Value (NAV) on the user's accounts.
The brand-new rules ensure transparency and fairness in the allocation of tickets while making it flexible and accessible for every user to participate in this big exciting event!
The calculation rules are as follows:
KuCoin will use the daily average USDT-denominated Net Asset Value (NAV) of one or more currencies to calculate the final number of tickets that users can receive (including Main Account, Trading Account, Margin Account, Futures Account, Trading Bot Account, Financial Account, and Wealth Account).
- The NAV for Main Account is calculated by using the formula "the sum of the hourly random snapshot of USDT-denominated Net Asset Value of the Main Account/24 hours".
- The NAV for Trading Account is calculated by using the formula "the sum of the hourly random snapshot of USDT-denominated Net Asset Value of Trading Account/24 hours".
- The NAV for Margin Account is calculated by using the formula "the sum of the hourly random snapshot of USDT-denominated Net Asset Value of the Margin Account (Net Asset Value = Total asset value - Borrowed asset value - Payable interest)/24 hours". Please note that the Net Asset Value of the Margin Account may be negative in this case, and the NAV will be counted as zero.
- The NAV for Finance Account is calculated by using the formula "the sum of the hourly random snapshot of USDT-denominated Net Asset Value of Finance Account /24 hours".
- The NAV for the Futures Account is calculated by using the formula "the sum of the hourly random snapshot of USDT-denominated Net Asset Value of Futures Account /24 hours".
- The NAV for Trading Bot Account is calculated by using the formula "the sum of the hourly random snapshot of USDT-denominated Net Asset Value of Trading Bot Account/24 hours".
- The NAV for Wealth Account is calculated by using the formula "the daily random snapshot of USDT-denominated Net Asset Value of Wealth Account".
Please note:
- All sub-accounts are aggregated into the master account for calculation;
- Hourly snapshots are taken randomly;
- The calculation of holdings includes the open orders;
- KuCoin reserves the right to disqualify and revoke the tickets for participants who engage in dishonest or abusive activities during this activity. This includes bulk-account registrations to farm additional rewards and any other activity in connection with unlawful, fraudulent, or harmful purposes.
- All participants must strictly abide by the KuCoin Terms of Use and KuCoin Spotlight Terms of Use.
- KuCoin reserves the right to the final interpretation of the Spotlight Program.
- Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
- You are not entitled to receive any rewards associated with the KuCoin Spotlight service unless and until such rewatds are received by KuCoin. After KuCoin receiving the rewards, KuCoin will deposit the reward into your main account and deduct an equivalent amount of the specified tokens from your trading account. KuCoin cannot guarantee that you will receive any particular Spotlight reward or amount at any specific time. Spotlight services provided by KuCOin are opt-in accessible services only, and KuCoin is not liable for any loss caused by the Spotlight service.
KuCoin is committed to providing users with the best service, and we hope these upgrades will make your experience on KuCoin even better. Please stay tuned for more Spotlight information!
Best regards,
The KuCoin Team
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