Infinite Launch (ILA) Is Available on BurningDrop
11/23/2021, 12:10:14
Dear KuCoin Users,
Infinite Launch (ILA) will be available on BurningDrop from 10:00:00 on November 23, 2021 (UTC). Users can mine ILA by staking USDT/KCS/ETH assets. During the Burning Acceleration Period, users who have already staked can enjoy more ILA rewards by burning POL. (All times for this announcement refer to the UTC time zone)
Products Details:
| Staking Products | Fixed Income Pool USDT-FOR-ILA-20D | Premium Pool ETH-FOR-ILA-20D | Deluxe Pool KCS-FOR-ILA-20D |
| ILA Distribution Coefficient | 1 | 1.2 | 1.5 |
| Hard Cap of Whole Platform | 1,500,000 USDT | 356 ETH | 83,333 KCS |
| Hard Cap of Single User | 2,000 USDT | 0.5 ETH | 120 KCS |
*Subscription Period: 2021/11/23 10:00:00 - 2021/11/23 22:00:00
*Burning Acceleration Period: 2021/11/24 02:00:00 - 2021/11/24 10:00:00
*Staking Period: 2021/11/24 16:00:00 - 2021/12/14 15:59:59
*Issue Price: 1 ILA = 0.015 USDT
*Total Amount of ILA: 10,000,000
*Rewards Distribution: 8% of the ILA rewards will be distributed before ILA trading starts in the KuCoin Spot Market, the 88% will be distributed in 8% batches every month from the 1st distribution, and the last 4% will be distributed in the following month.
Calculation Method:
1) User’s Initial Allocation F = ∑(Individual staking amount of the chosen Staking Product * certain Distribution Coefficient * the price of staked assets in USDT at the start of the Subscription Period)
e.g. Alice staked 50 KCS in the KCS-FOR-ILA-20D section and 0.1 ETH in the ETH-FOR-ILA-20D section. Assume that the price of KCS at the start of the Subscription Period is 13 USDT, and the price of ETH at the start of the Subscription Period is 3,400 USDT. Thus, Alice’s Initial Allocation will be:
50 * 1.5 * 13 + 0.1 * 1.2 * 3,400 =1,383
2) Accelerating Coefficient by burning POL, namely V = 0.18452 * arctan (60 * ε - 2.08) + 0.207166085, wherein ε = Amount of the POL user burns / F
3) Single User Final Allocation after burning POL = F’
4) F’ = (V+1) F
User Final Allocation of ILA = (F’/ Overall Final Allocation) * Total Amount of ILA
Introduction of Project: Infinite Launch is a cross-chain launchpad where disruptive Gamefi & NFT projects meet long-term investors with a unique Diamond-hand mechanism. For the first time, investors are offered guaranteed access to their IDO projects' allocation pool regardless of their position or resources. With a long term vision, Infinite Launch sees NFT & Metaverse as inevitable trends and offers real utilities for NFTs holders, while building a perfect ecosystem where people can invest, and trade NFTs directly on the platform.
Notes:
1. Please note that users from Mainland China are not eligible to participate in this event.
2. As the number of burned POL increases, the rewards of each POL burning may gradually decrease. Users can enter the number of burned POL on the burning page to test the available acceleration computing power. Please burn rationally.
3. Users need to be registered on KuCoin to join this BurningDrop activity.
4. Users confirm that participating in this activity is voluntary, and the KuCoin Group has not forced, interfered with, or influenced the user's decision in any way.
Risk Warning: Cryptocurrency investment is high risk. It is carried out 24/7 without closing. Please pay attention to investment risks before taking part. KuCoin has a strict review process for online projects but will not assume any compensation or other responsibilities for investment behaviors. Please be aware of related risks and be cautious when investing.
Thanks for your support and understanding!
The KuCoin Team
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