Announcement of Lithium (LITH) Token Sale on KuCoin Spotlight
08/02/2021, 18:00:03
Dear KuCoin Users,
KuCoin will be launching the 13th Spotlight token sale with Lithium (LITH) on August 3, 2021 (UTC). The new round of the LITH token sale will operate using the proportional distribution model.
Spotlight Token Sale Details: (Subscribe Now)
- Token Name: Lithium (LITH)
- Spotlight Hard Cap: 300,000 USDT
- Spotlight Allocation: 50,000,000 LITH
- Spotlight Token Sale Price: 1 LITH = 0.006 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: The LITH will be distributed immediately after the successful deduction of KCS.
- Total Token Supply: 10,000,000,000 LITH
- Initial Circulating Supply: 520,000,000 LITH
- Lithium Website: https://lith.finance
How to Participate (Click to view the detailed subscription tutorial)
Participants must have KCS holdings of at least 100 KCS, where their final allocation of the new token is determined by the portion of their KCS holdings against the total 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.
- Token Sale Subscription Start Time: 12:00:00 on August 3, 2021 (UTC)
- Token Sale Subscription End Time: 00:00:00 on August 5, 2021 (UTC)
| Minimum KCS holdings for eligibility | Hard Cap Per User |
| 100 KCS | 200 USDT (33,333.33 LITH) |
Hard Cap: The max number of tokens your will receive
The Shares You Will Receive:
(User’s KCS holdings / Total KCS holdings of all participants) * Total Spotlight Allocation (50,000,000 LITH)
KCS Holdings
From 16:00:00 on August 3, 2021 to 16:00:00 on August 4, 2021 (UTC), KuCoin will be randomly taking 2 daily snapshots of KCS holdings. From these daily snapshots, each user’s KCS Holdings (the average from the 2 holding snapshots) will be determined.
*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 the Average Daily KCS Balance.
Daily KCS Holding Calculation Rules:
- Main Account * 100%
- Trading Account * 100%
- Pool-X Account (including locked and unlocked assets) * 100%
Ongoing Pool-X staking programs for KCS (locked assets):
- KCS-FOR-AXC-20D
- KCS-ZORT-30D
- KCS-2CRZ-30D
- KCS-LockDrop-360D
- KCS (Beta) Staking
Spotlight Token Sale Timeline:
- At 12:00:00 on August 3, 2021 (UTC), KuCoin will launch the Spotlight Token Sale and open the subscription for LITH.
- At 00:00:00 on August 5, 2021 (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 5, 2021 (UTC), KuCoin will deduct the corresponding amount of KCS in the qualified users’ Trading Account and distribute the corresponding amount of LITH. Please ensure you have at least 20 KCS in your Trading Account on August 5, 2021. If the deduction is successful, the LITH will be distributed immediately to your Main Account; otherwise, your eligibility to purchase in the Spotlight will be lost.
Please note that the amount of LITH shares you will receive is based on your average daily KCS holdings.
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 5, 2021 (UTC). If you fail to pass KYC2, then you will not be eligible for the token sale subscription.
- The following countries/areas are not supported for the purchase: Mainland China, Comoros, Seychelles, Syria, Thailand, The United States, U.S. Outlying Islands, Ivory Coast, Cuba, Democratic Republic of Congo, Republic of Congo, Iran, Iraq, Liberia, North Korea, Syria, Venezuela, Yemen, Zimbabwe, East Timor, Cambodia, Laos, Tanzania, Serbia , Tunisia, Uganda, Mali, Afghanistan, Albania, Central African Republic, Somalia, Malawi, Mozambique, Kyrgyzstan, Bosnia and Herzegovina, Uzbekistan, Turkmenistan, Burundi, South Sudan, Sudan (North), Republic of Guinea, Guinea South Africa, the Republic of Northern Macedonia, the Lebanese Republic, Kosovo, Libya, HongKong, Ethiopia, Sri Lanka, Trinidad and Tobago, Barbados, Botswana, Ghana, Jamaica, Mauritius, Pakistan, Nicaragua, Panama
- 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.
Lithium: Lithium Finance uses collective intelligence to price the unpriced.
Lithium Finance is the first decentralized data oracle focused on pricing private and illiquid assets such as shares of a pre-IPO company. Leveraging the Determinant-based Mutual Information (DMI) mechanism, participants ask subjective questions with a bounty to find a dominant truth. The answer provides price discovery for illiquid assets.
Click the KuCoin Blog Post to View More.
Official Website: https://lith.finance
Join the Community: https://lith.finance/community
Twitter: https://twitter.com/lithiumfinance
Github: https://github.com/LithiumFinance
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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