Announcement of Melos Studio (MELOS) Token Sale on KuCoin Spotlight
Dear KuCoin Users,
KuCoin will be launching the 20th Spotlight token sale with Melos Studio (MELOS) on March 14, 2022 (UTC). The MELOS token sale will operate using the proportional distribution model.
Learn how to participate: Spotlight Tutorial
Spotlight Token Sale Details: (Subscribe Now)
- Token Name: Melos Studio (MELOS)
- Spotlight Hard Cap: 750,000 USDT
- Spotlight Allocation: 15,000,000 MELOS
- Spotlight Token Sale Price: 1 MELOS = 0.05 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: 10% will be distributed on the Token Generation Event (TGE), then during the following 2 month, 10% every month. The remaining 70% will be on weekly linear vesting for another 3 months (before Friday of each week).
- Total Token Supply: 1,000,000,000 MELOS
- Initial Circulating Supply: 42,557,534 MELOS
- Melos Studio Website: https://www.melos.studio
How to Participate
Participants must have an average daily KCS holdings 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.
- Token Sale Subscription Start Time: 12:00:00 on March 14, 2022 (UTC)
- Token Sale Subscription End Time: 00:00:00 on March 17, 2022 (UTC)
|Minimum KCS holdings for eligibility||Hard Cap Per User|
|100 KCS||300 USDT (6,000 MELOS)|
*Hard Cap: The max number of tokens you will receive.
The Shares of Qualified Users Will Receive (Users must meet the minimum average daily KCS holdings):
(User’s KCS holdings / Total KCS holdings of all participants) * Total Spotlight Allocation (15,000,000 MELOS)
Daily KCS Holdings:
From 16:00:00 on March 14, 2022 to 16:00:00 on March 16, 2022 (UTC), KuCoin will be randomly taking a snapshot of each user's KCS holdings on that day (3 snapshots in total). From the snapshot, each user’s daily KCS holdings will be determined. Only users who have an KCS holdings equal or greater than 100 from snapshot and click ‘Participate Now’ during the subscription period will be qualified to the 20th Spotlight.
*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%
- Finance Account (including locked and unlocked assets) * 100%
Ongoing KuCoin Earn staking programs for KCS (locked assets):
Spotlight Token Sale Timeline:
- At 12:00:00 on March 14, 2022 (UTC), KuCoin will launch the Spotlight Token Sale and open the subscription for MELOS.
- At 00:00:00 on March 17, 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 March 17, 2022 (UTC), KuCoin will deduct the corresponding amount of KCS in the qualified users’ Trading Account and distribute the corresponding amount of MELOS. Please ensure you have at least 20 KCS in your Trading Account on March 17, 2022. If the deduction is successful, the MELOS 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 MELOS 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 March 17, 2022. 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: Belarus, Mainland China, Democratic Republic of Congo, the United States of America, Canada, Japan, Cuba, Iran, North Korea, Sudan, Syria, Singapore, Venezuela, Crimea.
- 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.
Melos Studio (MELOS):
Melos Studio is an innovative web3 music platform introducing music industry to new evolution where music creators, co-creators or re-creators can all benefit from their inspirations via Melos NFT DNA Tree, which in the same way it allows a new generation of fan's economy.
Melos also introduces Metis AI workshop tool that lowers the barrier of entry for music creation, where the final product can be directly sold in the marketplace.
Official Website: https://www.melos.studio
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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