KuCoin to Support the TRC20 based USDT Incentive Plan (TRC20 based USDT Airdrop)

2019/07/19 10:53:39Announcements

Dear KuCoin Users,

We are happy to announce that KuCoin will be supporting the TRC20 based USDT incentive plan 2.0 (TRC20 based USDT airdrop). From July 15, 2019, users can apply for KuCoin to convert their USDT to TRC20 based USDT and lock the USDT to obtain the TRC20 based USDT token reward paid by TRON payment.

Due to the limited amount of TRC20 based USDT in circulation on KuCoin and in the market, we recommend that users apply as soon as possible. When the available TRC20 based USDT reaches an insufficient level, users will not be able to apply for a lock.

According to the announcement from TRON, the reward plan for this event is:

Date (UTC+8)Number of DaysAnnualized Rate of Return
7.16.2019 00:00-23:591 Day in Total100%
7.17.2019 00:00-23:591 Day in Total50%
From 7.18.2019 00:00
To 7.27.2019 23:59
10 Days in Total15%
From 7.28.2019 00:00
To 8.15.2019 23:59
19 Days in Total3%

*The daily reward calculation is based on the snapshot of the amount of locked TRC20 based USDT tokens at 00:00 each day from July 16, 2019.

**Daily Rate of Return=Annualized Rate of Return/365

How to Participate

Users can transfer their USDT to the specified lock address through the KuCoin withdraw interface. KuCoin offers 4 lock-in options, as detailed below:

OptionLock AddressValidity Period (UTC+8)Unlock Date (UTC+8)
Case1LOCKUSDTTILL0716From 7.15.2019 12:00:00
to 23:59:59
Case2LOCKUSDTTILL0717From 7.15.2019 12:00:00
to 7.16.2019 23:59:59
Case3LOCKUSDTTILL0727From 7.15.2019 12:00:00
to 7.26.2019 23:59:59
Case4LOCKUSDTTILL0815From 7.15.2019 12:00:00
to 8.14.2019 23:59:59

*If the amount of TRC20 based USDT has been used up, the system will prompt that the address is invalid.

**KuCoin will take snapshots of the locked USDT amount applied by participants at 00:00 each day.

***KuCoin will calculate rewards based on the snapshots and corresponding annualized rate of return. The rewards will be distributed to the participants within 2 days after each case is unlocked.

TRC20 based USDT Summary

TRC20 based USDT is the USDT issued by Tether based on the TRON network. The currency deposit address is the TRON address, with deposits and withdrawals taking place on the TRON network. The TRC20 based USDT uses the TRC20 protocol.

Thank you for your support

The KuCoin Team