The Crypto Prophecies (TCP) BurningDrop — Staking Round Rules
04/26/2021, 17:31:05
Dear Pool-X Users,
Regarding The Crypto Prophecies (TCP) BurningDrop, users can choose different staking products to stake corresponding quantities of USDT/KCS/ETH, where TCP rewards will be distributed according to the Distribution Coefficient related to the staking amount.
The Staking Round rules are as follows (The total amount of TCP is 1,000,000):
1. During the Subscription Period, users can lock their assets (USDT/KCS/ETH) into 3 different staking products;
2. After the closure of the Subscription Period, users can calculate the “Initial Allocation” of TCP 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 TCP will be calculated;
4. After the Acceleration Period, users will get the actual amount of TCP rewards according to the distribution rules, which will be calculated by a certain algorithm of the “Initial Allocation”, “Accelerating Coefficient” and “Final Allocation”.
| Staking Products | USDT-FOR-TCP-20D | KCS-FOR-TCP-20D | ETH-FOR-TCP-20D |
| TCP Distribution Coefficient | 1 | 1.3 | 1.6 |
| Hard Cap of Whole Platform | 1,000,000 USDT | 90,000 KCS | 450 ETH |
| Hard Cap of Single User | 3,500 USDT | 350 KCS | 1.6 ETH |
*Subscription Period: 2021/04/26 10:00:00 - 2021/04/27 10:00:00
*Burning Acceleration Period: 2021/04/27 14:00:00 - 2021/04/28 14:00:00
*Staking Period: 2021/04/28 16:00:00 - 2021/05/18 15:59:59
*TCP Distribution Rules: All TCP rewards will be distributed to users’ Pool-X account on April 29, 2021.
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-TCP-20D section and 0.02 ETH in the ETH-FOR-TCP-20D section. Assume that the price of ETH at the end of the Subscription Period is 2,000 USDT. Thus, Alice’s Initial Allocation will be:
1 * 3,000 * 1 + 0.02* 1.6 * 2,000 = 3,064
2. Starting from 2021/04/27 14:00:00 - 2021/04/28 14:00:00 (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 TCP = Total Amount of TCP / Overall Final Allocation * F’
3. After the Burning Acceleration Period ends, the staking period will start. All TCP rewards will be distributed to users’ Pool-X account on April 29, 2021.
Thanks for your support!
The Pool-X Team
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