KuCoin Will Launch The KCS Lockup & Cash Back Program and Burn Plan
Dear KuCoin users,
In order to promote the diversity of KCS ecosystem, enrich the rights of KCS users, and increase the market potential of KCS, KuCoin has decided to launch the KCS Lockup, Cash Back and Burn Plan. This plan will begin on August 1, 2019 (UTC+8). The users' locked KCS will receive up to 50% annualized rate of return.
Rules of Lockup and Cash Back
- How to lockup: For users who hold KCS and expect to lock KCS, please withdraw the KCS to LOCKKCS via the withdrawal page. (Visit the KCS withdrawal page, fill in the KCS address LOCKKCS in the wallet address bar.)
- Lockup period: Users can lock KCS at any time from August 1st to August 31st, 2019 (UTC+8), and lock KCS for 90 days from the date of lockup.
- Lockup limit: The minimum amount for single lockup is 200 KCS; The daily maximum lockup amount per person is 10,000 KCS; The daily maximum lockup amount for the entire platform is 500,000 KCS; when the total lockup amount reaches 5,000,000 KCS, users will not be able to lock their KCS.
- Rate of return: The highest annualized rate of return is up to 50%, with a minimum of 35%. The earlier you lock KCS, the higher the rate of return you will get; the lockup revenue will be distributed along with the principal on day of unlocking.
- Referral reward: You can get 10% of the friend's revenue as a referral reward, the reward will be distributed after the referee's lockup period expires. When the referee locks the position, he/she needs to enter the referral code of the referrer in the withdrawal note to associate the referral relationship.
- Unlock in advance: If the user wants to unlock their KCS in advance the unlock date, please contact KuCoin support to apply for unlocking. After the application is approved, the KCS that you locked will be refunded to the original address within 24 hours. 10% of your funds for lockup will be charged as the early unlocking fee and the revenue will not be paid
Rules of Burn
KuCoin will additionally burn the same number of KCS based on the number of total KCS locked by all users. The burn plan will be implemented in December 2019.
- After the KCS unlocks, KuCoin provides a service for repurchasing the user's locked KCS at the price of 10% off the average KCS price (USDT price) on the day of the user's lockup. Users can apply for repurchase services on their own.
- How to apply: Please transfer the unlocked principal to BUYBACKKCS address before 24 o'clock on the day of unlocking. KuCoin will calculate and issue USDT within 3 working days.
- Note: Please apply for repurchase before 24 o'clock on the day of unlocking. Timeout is considered as abandoning the repurchase opportunity. If user trades, withdraws or deposits any KCS, he/she is considered as abandoning the repurchase opportunity. KCS unlocked in advance cannot apply for repurchase. If the amount of applications for repurchase KCS exceeds the amount of locked KCS, the excess is considered invalid and KuCoin will return more than part of KCS.
In addition to the above benefits, users who have locked more than 1000 KCS will receive the next round of KuCoin Spotlight free airdrops. Please pay attention to the later announcements for specific rules.
|Lockup Date (UTC+8)||Unlock Date (UTC+8)||Lockup Period||Estimated Annualized Rate of Return|
*The locked-up KCS will not be eligible for the KCS bonus.
Risk-taking: The above data is based on past experience and model design to estimate the revenue. It does not mean that the platform provides any form of guarantee or guarantee for the user to obtain the estimated income. The actual income obtained by the user is inconsistent with the estimated return, and the participating users voluntarily assume such risk. The final interpretation of this event belongs to the platform.
The KuCoin Team