Hord (HORD) BurningDrop Staking-Round Rules

2021-04-19 11:37:04--


Dear Pool-X Users,

Regarding the Hord (HORD) BurningDrop, users can choose different staking products to stake corresponding quantities of USDT/ETH/BTC, where HORD rewards will be distributed according to the Distribution Coefficient related to the staking amount. (All times for this announcement refer to the UTC time zone)

The Staking Round rules are as follows (The total amount of HORD is 2,000,000) :

1. During the Subscription Period, users can lock their assets (USDT/ETH/BTC) into 3 different staking products;

2. After the closure of the Subscription Period, users can calculate the “Initial Allocation” of HORD according to the overall staking amount in the pool;

3. Stepping into the Acceleration Period, users will get an “Accelerating Coefficient” by burning DAO, based on which “Final Allocation” of HORD will be calculated;

4. After the Acceleration Period, users will get the actual amount of HORD rewards according to the distribution rules, which will be calculated by a certain algorithm of the “Initial Allocation”, “Accelerating Coefficient” and “Final Allocation”.

HORD Distribution Coefficient11.31.5
Hard Cap of Single User 3,500 USDT1.5 ETH0.05 BTC
Hard Cap of Whole Platform1,000,000 USDT450 ETH15 BTC

*Subscription Period: 2021/04/19 10:00:00 - 2021/04/20 10:00:00

*Burning Acceleration Period: 2021/04/21 10:00:00 - 2021/04/22 10:00:00

*Staking Period: 2021/04/22 10:00:00 - 2021/05/12 10:00:00

*HORD Distribution Rules: 30% will be distributed on April 23, 2021. The remaining will be distributed 10% per month, which will be completed for 7 consecutive months.

Calculation Method:

1. Corresponding to the staking amount,

User’s Initial Allocation = ∑(Individual staking amount of the chosen Staking Product * certain Distribution Coefficient * the price of staked assets in USDT at the end of the Subscription Period)

e.g. Alice staked 3,000 USDT in the USDT-FOR-HORD-20D section and 0.02 BTC in the BTC-FOR-HORD-20D section. Assume that the price of BTC at the end of the Subscription Period is 64,400 USDT. Thus, Alice’s Initial Allocation will be:

1 * 3,000 * 1 + 0.02* 1.5 * 64,400 = 4,932

2. Starting from 2021/04/21 10:00:00 - 2021/04/22 10:00:00 (UTC), the event enters into the Acceleration Period, where users can increase their Initial Allocation by burning DAO. The burning rules are as follows:

  • User Initial Allocation = F
  • Accelerating Coefficient by burning DAO = V
  • User Final Allocation after burning DAO = F’
  • F’ = (V+1) F
  • V = 0.18452 * arctan (2000 * ε - 2.08) + 0.207166085
  • ε = Amount of the DAO user burns / F

After taking the Accelerating Coefficient into account,

User Final Allocation of HORD = Total Amount of HORD / Overall Final Allocation * F’

3. After the Burning Acceleration Period ends, the staking period will start. 30% of HORD rewards will be distributed to the Pool-X account for the first time on April 23, 2021, and the remaining will be distributed 10% per month, which will be completed for 7 consecutive months.

Thanks for your support!

The Pool-X Team

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