Dear KuCoin Users,
KuCoin will launch the next round of the Spotlight token sale with LUKSO (LYXe) on May 20, 2020 (UTC+8). The new round of the LYXe token sale will operate using lottery ticket acquisition rules (see below).
Spotlight Token Sale Details:
- Token Name: LUKSO (LYXe)
- Token Type: ERC-20
- Token Sale Participation Start Time: May 14, 2020 (UTC+8)
- Token Sale Participation End Time: 23:59:59 on May 19, 2020 (UTC+8)
- Spotlight Hard Cap: 220,000 USDT
- Spotlight Allocation: 1,000,000 LYXe
- Spotlight Token Sale Price: 1 LYXe = 0.22 USDT
- Token Supported: KuCoin Shares (KCS) Only
- Price Ratio: The actual price ratio of KCS will be announced on the day of the Token Sale
- Token Sale Format: Lottery
- Allocation Per Winning Ticket: 160 USDT (727 LYXe)
- Spotlight Token Distribution: The LYXe will be distributed immediately after the successful deduction of KCS.
- Total Token Supply: 100,000,000 LYXe
- Initial Circulating Supply: 2,750,000 LYXe
- Private Sale Allocation: 10% of Total Token Supply
- Private Sale Token Price: 1 LYXe = 0.27 USDT
- Private Sale Vesting Period: Private Sale will be unlocked 100% in 2021 along with MainNet launch
- LUKSO Website: https://www.lukso.network/
- LUKSO Whitepaper: https://indd.adobe.com/view/50285b8e-29d4-48f4-98b8-e621b52266dd
- LUKSO Technical Lightpaper：https://bit.ly/LUKSO-LightpaperV3
- LUKSO Community:
Lottery Format Summary:
- Each successful participant can claim a different number of lottery tickets according to different conditions that are met.
- Each winning ticket is eligible to purchase 160 USDT worth of the LYXe tokens (fixed amount) using KCS.
- Up to 2 winning tickets per user.
Lottery Ticket Acquisition Conditions:
Condition: KCS Holding Amount
Counting Period: From 00:00:00 on April 20, 2020 to 23:59:59 on May 19, 2020 (UTC+8)
KCS Holding Rules: KuCoin took daily snapshots of KCS holdings starting at 00:00:00 on April 20, 2020 (UTC+8), and ending at 23:59:59 on May 19, 2020 (UTC+8). From these daily snapshots, each user’s daily average of KCS holdings was determined. The corresponding number of lottery tickets each user is entitled to is based solely on the average daily KCS balance held by the user (hereinafter referred to as "X") within the 30-day counting period.
|Serial No.||Average Daily KCS Balance (X)||No. of Lottery Tickets|
|1||100 ≤ X < 500||1|
|2||500 ≤ X < 1500||2|
|3||1500 ≤ X < 2000||4|
|4||2000 ≤ X < 5000||6|
|5||X ≥ 5000||10|
*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 average daily KCS balance.
User A has a daily average of 600 KCS in the 30-day counting period, which matches the condition of Serial No.2 and will receive 2 lottery tickets.
User B has a daily average of 3,000 KCS in the 30-day counting period, which matches the condition of Serial No.4 and will receive 6 lottery tickets.
Spotlight Token Sale Timeline:
- KuCoin already launched the Spotlight Token Sale and open the activity registration for LUKSO.
- At 23:59:59 on May 19, 2020 (UTC+8): KuCoin will end this round of token sale registrations, count the lottery tickets of all successfully registered users and randomly select the winning tickets.
- At 17:00:00 on May 20, 2020 (UTC+8): KuCoin will announce all successfully registered users’ lottery tickets and winning tickets on the Spotlight page.
- From 19:00:00 to 20:00:00 on May 20, 2020 (UTC+8): KuCoin will deduct the corresponding KCS in the winning users’ trading account and distribute corresponding LYXe. Please ensure you have sufficient KCS in your trading account on May 20, 2020. If the deduction is successful, the LYXe will be distributed immediately, otherwise the purchase qualification will be lost.
- At 22:00:00 on May 20, 2020 (UTC+8): KuCoin will list LYXe and open the trading service for LYXe.
To participate in the token sale, your KuCoin account needs to meet the following criteria:
- Complete the KYC verification before 23:59:59 on May 19, 2020. KYC verification review takes 1-3 working days, so please submit KYC certification in advance.
- The following countries/areas are not supported for the purchase: The U.S.A., Mainland China, Afghanistan, Bosnia and Herzegovina, Ethiopia, Guyana, Iran, Iraq, North Korea, Lao People’s Democratic Republic, Pakistan, Sri Lanka, Syrian Arab Republic, Trinidad and Tobago, Vietnam, Uganda, Vanuatu, Yemen；
- 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.
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