Announcement of Fracton Protocol (FT) Token Sale on KuCoin Spotlight
KuCoin will be launching the 23rd Spotlight token sale with Fracton Protocol (FT) on August 9, 2022 (UTC). The FT token sale will operate using the proportional distribution model.
Spotlight Token Sale Details: (Subscribe Now)
- Token Name: Fracton Protocol (FT)
- Spotlight Hard Cap: 600,000 USD
- Spotlight Allocation: 3,000,000 FT
- Spotlight Token Sale Price: 1 FT = 0.2 USDT
- Token Supported: KuCoin Token (KCS) Only
- Price Ratio: The actual price ratio of KCS will be announced on the day of the Token Sale
- Token Sale Format: Proportional Distribution Model (PDM)
- Spotlight Token Distribution: 50% will be unlocked at TGE. The remaining 50% will be on monthly linear vesting for 2 months.
- Total Token Supply: 100,000,000 FT
- Initial Circulating Supply: 2,490,000 FT
- Fracton Protocol Website: https://www.fracton.cool/
How to Participate
Participants must have an average KCS holding of at least 100 KCS, where their final allocation of the new token is determined by the portion of their average daily KCS holdings against the total average daily KCS holdings by all participating users. To ensure a fair allocation for all participants, there will be a set hard cap for the token allocation per user.
However, to let more new KCS holders enjoy the 23rd Spotlight, KuCoin will launch a whitelist campaign to exempt the minimum KCS holdings requirement.
- Token Sale Subscription Start Time: 12:00:00 on August 9, 2022 (UTC)
- Token Sale Subscription End Time: 00:00:00 on August 11, 2022 (UTC)
To ensure a fair allocation for all participants, there will be a hard cap for the token allocation per user.
|KCS Holding||Hard Cap Per User|
|< 100 KCS (whitelist required)||200 USD (1,000 FT)|
* Hard Cap: The max number of tokens you will receive
The Shares of Qualified Users Will Receive:
(User’s KCS holding / Total KCS holding of all participants) * Total Spotlight Allocation (3,000,000 FT)
Exclusive Bonus for 23rd Spotlight!
From August 9, 2022 to August 11, 2022, users with an average holding of more than 2,000 HIBAYC or 2,000 HIPUNKS will enjoy a KCS holding coefficient, where their final KCS holding will be multiplied by 2.
e.g. Alice has an average amount of 3,000 HIBAYC, assuming that she holds 100 KCS during the snapshot period and has successfully participated in the 23rd Spotlight. Alice’s final KCS holdings will be counted as: 100 KCS * 2 = 200 KCS.
*During the period, KuCoin will take a snapshot of each subscriber’s HIBAYC or HIPUNKS balance each day at 16:00 (UTC).
Daily KCS Holdings:
From 12:00:00 on August 9, 2022 to 00:00:00 on August 11, 2022 (UTC), KuCoin will randomly take a snapshot of each user's KCS holdings (for detailed calculation rules, click here) on that day (2 snapshots in total). From the snapshot, each user’s daily KCS holdings will be determined.
*Sub-accounts can’t participate in the token sale as independent accounts. However, the KCS holdings in the Sub-accounts will be combined into the Master account for the calculation of the Average Daily KCS Balance.
Spotlight Token Sale Timeline:
- At 12:00:00 on August 9, 2022 (UTC), KuCoin will launch the Spotlight Token Sale and open the subscription for FT.
- At 00:00:00 on August 11, 2022 (UTC), KuCoin will end this round of token sale registrations, counting the shares of all successfully registered participants.
- From 08:00:00 to 09:00:00 on August 11, 2022 (UTC), KuCoin will deduct the corresponding amount of KCS in the qualified user ‘Trading Account’ and distribute the corresponding amount of FT. We highly encourage you to have at least 30 KCS in your Trading Account on August 11, 2022. If the deduction is successful, the FT will be distributed immediately to your Main Account; otherwise, your eligibility to purchase in the Spotlight will be lost.
To participate in the token sale, your KuCoin account needs to meet the following criteria:
- Complete KYC2 (Advanced Verification) before 00:00:00 on August 11, 2022 (UTC). If you fail to pass KYC2, you will not be eligible for the token sale subscription.
- The following countries/areas are not supported for the purchase: Belarus, Mainland China, the Democratic Republic of Congo, the United States of America, Canada, Japan, Cuba, Iran, North Korea, Sudan, Syria, Venezuela, and Crimea.
- Purchase Agreement Signed.
- After completing the steps above, make 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.
Click Here and Know More About KuCoin Spotlight.
What is Fracton Protocol (FT)?
Fracton token(FT) holders play a key role in shaping Fracton Protocol’s future permissionless by proposals and votes governance. Fracton Protocol releases the financial attributes from NFT collectibles by fractionalizing NFT and enhancing the liquidity of the NFT market.
Fracton Protocol considers liquidity as an essential key for both decentralized exchanges and centralized exchanges, so Fracton is aiming to build a liquid market and become a solid financial infrastructure of NFT ecosystem. The thing is, designing to fit financial logic is vital as well as the technical utility and scalability.
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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