Announcement of Coti (COTI) Token Sale on KuCoin Spotlight

2019/05/31 11:22:12Announcements

Dear KuCoin Users,

KuCoin will launch the next round of the Spotlight token sale with Coti (COTI) on 4/6/2019 (UTC+8). The new round of COTI token sale will be implemented with lottery ticket acquisition rules. (see below).

Spotlight Token Sale Details:

  1. Token Name: Coti (COTI)
  2. Token Type: MainNet
  3. Token Sale Participation Start Time: Spotlight Page Release Time
  4. Token Sale Participation End Time: June 3, 2019, 23:59:59 (UTC+8)
  5. Spotlight Hard Cap: 3,000,000 USD
  6. Spotlight Allocation: 46,152,000 COTI
  7. Spotlight Token Sale Price: 1 COTI = 0.065 USD
  8. Token Supported: KuCoin Shares (KCS) Only
  9. Price Ratio: The actual price ratio of KCS will be announced on the day of the Token Sale
  10. Token Sale Format: Lottery
  11. Allocation Per Winning Ticket: 500 USD (7692 COTI)
  12. Spotlight Token Distribution: The COTI will be distributed immediately after the successful deduction of KCS.
  13. Total Token Supply: 2,000,000,000 COTI
  14. Initial Circulating Supply: 3.79%
  15. Private Sale Allocation: 10.01% of Total Token Supply
  16. Private Sale Token Price: 1 COTI = 0.08 USD
  17. Private Sale Vesting Period: 1.29% will be unlocked when listing, 1.01% will be unlocked in the fourth month and the remainder will be gradually released over the next 33 months.
  18. Seed Sale Token Price: 1 COTI = 0.06 USD
  19. Seed Sale Allocation: 2.87% of Total Token Supply
  20. Seed Sale Vesting Period: 0.05% will be unlocked in the fourth month and the remainder will be gradually released over the next 33 months.
  21. COTI Website:https://coti.io/
  22. COTI Whitepaper:https://coti.io/files/COTI-technical-whitepaper.pdf
  23. COTI Telegram:https://t.me/COTInetwork

Lottery Format Summary:

  • Each successful participant can claim a different number of lottery tickets according to different conditions that are met.
  • Each winning ticket is eligible to purchase 500 USD worth of the COTI (fixed amount) tokens using KCS.
  • Up to 2 winning tickets per winning user allowed.

Lottery Ticket Acquisition Conditions:

Condition 1 —— KCS Locking

Transfer Period: From this announcement release time to 23:59:59 on 3/6/2019 (UTC+8).

Locking Period: 12 Days (288 hours)

Locking Rules:

Users are required to transfer a certain number of KCS (hereinafter referred to as “N”) to the specified KCS address iwantcoti from their KuCoin main account during the transfer period. (Visit the KCS withdrawal page, fill in the KCS address iwantcoti in the wallet address bar.)

KuCoin will automatically return the KCS to the user's main account after 12 days (288 hours) of being locked, based on the transfer time of each transfer, and users get an additional 0.0038*N KCS, a total of 1.0038*N KCS (The KCS during the locking period is not eligible for the KuCoin Bonus)

Users will claim the corresponding number of lottery tickets according to the total amount of KCS transferred to the KCS specified address iwantcoti during the locking period. (up to a maximum of 4 tickets per eligible account.)

Serial No.Total Transferred Amount (N)No. of Lottery Tickets
1.1300 ≤ N < 5801
1.2580 ≤ N < 8502
1.3850 ≤ N < 11103
1.4X ≥ 11104

For example:

User A transferred 200 KCS to the specified KCS address iwantcoti at 10:00:00 (UTC+8) on May 29, 2019, and transferred 500 KCS to the specified KCS address iwantcoti at 18:00:00 (UTC+8) on May 31, 2019.

KuCoin will return 200.76 KCS at 10:00:00 (UTC+8) on June 10, 2019, and return 501.9 KCS at 18:00:00 (UTC+8) on June 12, 2019.

So user A matches the condition of Serial No.1.2 and will receive 2 lottery tickets.

Note:

1. When transferring KCS there will be a discounted fee of 0.001 KCS applied to all KCS transfers until the end of this round of Spotlight sales.

2. The KCS locked to accumulate lottery tickets (condition 1) cannot be deducted for the Spotlight purchase of COTI. Please make sure the additional corresponding amount of KCS is available in the 'trading account' for deduction for winning lottery ticket holders no later than 21:00:00 on June 4, 2019 (UTC+8).

3. To ensure that we return your KCS on time, please generate your KCS deposit address in advance. You can generate your KCS deposit address on the KCS deposit page.

Condition 2 —— KCS Holding Amount

Counting period: From 00:00:00 (UTC+8) on 28/4/2019 to 00:00:00 (UTC+8) on 27/5/2019

KCS Holding Rules:

KuCoin took daily snapshots of KCS holdings starting at 00:00:00 (UTC+8) on April 28, 2019, and ending at 00:00:00 (UTC+ 8) on May 27, 2019. From these daily snapshots each user’s daily average of KCS holdings was determined, and this entitles each user to a corresponding number of lottery tickets based solely on the average daily KCS balance within the 30-day counting period held by each user (hereinafter referred to as "X").

Serial No.Average Daily KCS Balance (X)No. of Lottery Tickets
2.1500 ≤ X < 10001
2.21000 ≤ X < 15002
2.31500 ≤ X < 20003
2.42000 ≤ X < 300004
2.5X ≥30000100

*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.

For example:

User B has a daily average of 1600 KCS in the 30-day counting period, which matches the condition of Serial No.2.3 and will receive 3 lottery tickets.

User C has a daily average of 35000 KCS in the 30-day counting period, which matches the condition of Serial No.2.5 and will receive 100 lottery tickets.

Condition 3 —— Special Incentive

To users who successfully participated in the previous CHR token sale but did not win and meet both of the following conditions, KuCoin will award an additional 1 lottery ticket.

Acquisition Conditions:

  • Had at least one CHR lottery ticket.
  • Successfully participate in this round of COTI token sale, and have at least 1 COTI lottery ticket by meeting condition 1 or condition 2.

Spotlight Token Sale Timeline:

  1. KuCoin will launch the Spotlight token sale, and open the activity registration for COTI in the coming days.
  2. At 23:59:59 on June 3, 2019 (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.
  3. At 18:00:00 on June 4, 2019 (UTC+8): KuCoin will announce all successfully registered users’ lottery tickets and winning tickets on the Spotlight page.
  4. At 21:00:00 on June 4, 2019 (UTC+8): KuCoin will deduct the corresponding KCS in the winning users’ trading account. Please ensure you have sufficient KCS in your trading account.

* Users who fail to have sufficient balance in their trading account on June 4, 2019, will be re-deducted at 09:00:00 (UTC+8) on June 5, 2019. If the deduction is successful, the COTI will be distributed immediately, otherwise, the purchase qualification will be lost.

5. At 22:00:00 on June 4, 2019 (UTC+8): KuCoin will list COTI and open the trading service for COTI.

To participate in the token sale, your KuCoin account needs to meet the following criteria:

1. Complete the KYC verification before 23:59:59 on June 3, 2019. KYC verification review takes 3-5 working days, so please submit KYC certification in advance.

2. The following countries/areas are not supported for the purchase:

Afghanistan, Albania, Bahamas, Belarus, Bosnia & Herzegovina, Botswana, Burundi, Canada, Central African Republic, Côte d'Ivoire, Cuba, Democratic People’s Republic of Korea, Democratic Republic of the Congo, Eritrea, Ethiopia, Ghana, Gibraltar, Guinea, Guinea-Bissau, Iran, Iraq, Israel, Japan, Lebanon, Liberia, Libya, Mainland China, Myanmar, New Zealand, Nicaragua, Pakistan, Republic of Macedonia, Serbia, Somalia, South Sudan, Sri Lanka, Sudan (Darfur), Sudan (north), Syria, Thailand, Trinidad & Tobago, Tunisia, Tunisia, Uganda, Ukraine, United States of America, Venezuela, Yemen and Zimbabwe;

3. Purchase Agreement signed

4. 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