Announcement of Velo (VELO) Token Sale on KuCoin Spotlight
Dear KuCoin Users,
KuCoin will be launching the next round of the Spotlight token sale with Velo (VELO) on September 5, 2020 (UTC+8). The new round of the VELO token sale will operate using Lottery Ticket Acquisition (see below) *web-access preferred.
Spotlight Token Sale Details:
- Token Name: Velo (VELO)
- Token Type: Stellar Token Standard
- Spotlight Hard Cap: 2,000,000 USDT
- Spotlight Allocation: 40,000,000 VELO
- Spotlight Token Sale Price: 1 VELO = 0.05 USDT
- Token Supported: KuCoin Shares (KCS) Only
- Price Ratio: The actual price ratio of KCS will be announced on the day of the Token Sale
- Token Sale Format: Lottery Ticket Sale
- Spotlight Token Distribution: The VELO will be distributed immediately after the successful deduction of KCS.
- Total Token Supply: 30,000,000,000 VELO
- Initial Circulating Supply: 40,000,000 VELO
- Velo Website: www.velo.org
- Velo Whitepaper: https://velo.org/doc/Velo_Whitepaper.pdf
- Velo Community: https://t.me/veloprotocol
Lottery Ticket Acquisition (Register First and Continue)
- Token Sale Participation Start Time: 21:00:00 on September 5, 2020 (UTC+8)
- Token Sale Participation End Time: 23:59:59 on September 16, 2020 (UTC+8)
- Allocation Per Winning Ticket: 50 USDT (1,000 VELO)
- Each successful participant will be able to claim up to a maximum of 30 lottery tickets and receive a maximum of 5 winning tickets according to the different conditions that are met.
- Each winning ticket is eligible to purchase 50 USDT worth of the VELO tokens (fixed amount) using KCS.
A. KCS Holdings
Condition: KCS Holding Amount
KCS Holding Counting Period: From 00:00:00 on September 10, 2020 to 23:59:59 on September 16, 2020 (UTC+8)
Calculation Rules: KuCoin will be randomly taking daily snapshots of KCS holdings during the KCS Holding Counting Period. From these daily snapshots, each user’s average of KCS Holdings will be determined.
| Serial No. | Average KCS Holdings | No. of Lottery Tickets |
| 1 | 100 ≤ X < 500 | 1 |
| 2 | 500 ≤ X < 1,500 | 2 |
| 3 | 1,500 ≤ X < 3,000 | 3 |
| 4 | 3,000 ≤ X < 4,000 | 4 |
| 5 | 4,000 ≤ X < 5,000 | 5 |
| 6 | 5,000 ≤ X < 6,000 | 6 |
| 7 | 6,000 ≤ X < 7,000 | 7 |
| 8 | 7,000 ≤ X < 8,000 | 8 |
| 9 | X ≥ 8,000 | 9 |
*Sub-accounts can’t participate in the token sale as an independent account. However, the KCS holdings in the Sub-accounts will be combined into the Master account for the calculation of Average Daily KCS Balance.
Daily KCS Holding Calculation Rules:
- Main Account * 100%
- Trading Account * 100%
- Total Face Amount of KCS in Margin Account * 10%
- Pool-X Account (including KCS-Staking (Beta) locked amount) * 100%
B. KTSt Lockdrop
Condition: KCS Staking (KTSt Lockdrop)
Calculation Rules: KuCoin will be taking one snapshot at 23:59:59 on September 16, 2020 of the staking amount for the ‘KTSt Lockdrop’ activity. The corresponding number of lottery tickets each user is entitled to is based solely on the amount of KCS Staking for KTSt Lockdrop.
| Serial No. | Amount of KCS Staking (KTSt Lockdrop) | No. of Lottery Tickets |
| 1 | 100 ≤ X < 500 | 2 |
| 2 | 500 ≤ X < 1,500 | 4 |
| 3 | 1,500 ≤ X < 3,000 | 6 |
| 4 | 3,000 ≤ X < 4,000 | 8 |
| 5 | 4,000 ≤ X < 5,000 | 10 |
| 6 | 5,000 ≤ X < 6,000 | 12 |
| 7 | 6,000 ≤ X < 7,000 | 14 |
| 8 | 7,000 ≤ X < 8,000 | 16 |
| 9 | X ≥ 8,000 | 18 |
*Sub-accounts can’t participate in the token sale as an independent account. However, the KCS holdings in the Sub-accounts will be combined into the Master account for the calculation of KCS Staking (KTSt Lockdrop) Balance.
For example:
User A has a daily KCS holding of 2,500 KCS in the 7-day counting period, which matches the condition of Serial No. 3 and will receive 3 lottery tickets.
User B has a KCS Staking(KTSt Lockdrop) Balance of 2,500 KCS, which matches the condition of Serial No. 3 and will receive 6 lottery tickets and KTSt airdrop.
C. Collecting Points and Claiming Lottery Tickets
- Points Collection Start Time: 15:00:00 on September 13, 2020 (UTC+8)
- Points Collection End Time: 23:59:59 on September 14, 2020 (UTC+8)
How to Earn Points:
Step 1: Go to the ‘3rd Anniversary, Win a Porsche 911’ event page
Step 2: Complete any of the tasks you prefer and earn your points (some tasks are repeatable)
KuCoin will be taking a snapshot of users’ real-time points at 23:59:50 on September 14, 2020 (UTC+8). The corresponding number of lottery tickets each user is entitled to is based solely on the total points collected by the users (hereinafter referred to as "X") within the 33-hours counting period.
| Serial No. | Real-time Points Collection (X) | No. of Lottery Tickets |
| 1 | 100 ≤ X < 200 | 1 |
| 2 | 200 ≤ X < 300 | 2 |
| 3 | X ≥ 300 | 3 |
*Real time Points Collections: Total Points Earned - Total Points Consumed.
Spotlight Token Sale Timeline:
- At 21:00:00 on September 5, 2020 (UTC+8), KuCoin will launch the Spotlight Token Sale (Lottery Ticket Acquisition) and open the activity registration for VELO.
- At 23:59:59 on September 16, 2020 (UTC+8), KuCoin will end this round of token sale registrations, count the lottery tickets of all successfully registered users and randomly select the winning tickets.
- At 17:00:00 on September 17, 2020 (UTC+8), KuCoin will announce all successfully registered users’ lottery tickets and winning tickets on the Spotlight page.
- From 18:30:00 to 19:30:00 on September 17, 2020 (UTC+8), KuCoin will deduct the corresponding KCS in the winning users’ trading account and distribute the corresponding VELO. Please ensure you have sufficient KCS in your trading account on September 17, 2020. If the deduction is successful, the VELO will be distributed immediately to your deposit account, otherwise the purchase qualification will be lost.
- At 20:00:00 on September 17, 2020 (UTC+8), KuCoin will list VELO and open the trading service for VELO.
To participate in the token sale, your KuCoin account needs to meet the following criteria:
- Complete the KYC2 (Advanced Verification) before 23:59:59 on September 15, 2020 (UTC+8). The KYC verification review takes 1-3 working days, so please submit KYC certification in advance.
- The following countries/areas are not supported for the purchase: The United States, U.S. Outlying Islands, American Samoa, United States Virgin Islands, Guam, Northern Mariana Islands, Japan, Bahamas, Botswana, Ghana, Pakistan, Yemen, Zimbabwe, Cambodia, Iceland, Mongolia, Albania, Mauritius, Nicaragua, Uganda, Barbados, Myanmar, Syria, Iran, North Korea, Sudan, Cuba, Iraq, Central African Republic, Bosnia and Herzegovina, Mainland China, Congo, Eritrea, Libya, Somalia, South Sudan, Lebanon.
- Purchase Agreement Signed
- After completing the steps above, please be sure to click the Participate Now button on the Spotlight page.
Note: The above steps can be completed on the Spotlight page before the start time of the Token Sale.
Risk Warning: Spotlight is a high-risk investment channel. Investors should be sensible in their participation and be aware of investment risks. KuCoin is not liable for users’ investment gains or losses. The information we provide is for users to conduct their own research. It is not investment advice. KuCoin reserves the right of final interpretation of the activity.
Thanks for your support!
The KuCoin Team
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