A Step-by-Step Guide to Participate KuCoin SUI Spotlight
Welcome to our guide on participating in the KuCoin SUI Spotlight! In this guide, we will provide you with essential information and steps to help you to participate in SUI spotlight. Let's get started!
Contents
1. Complete the Preparation
2. Spotlight Token Sale Details
3. Spotlight Token Sale Timeline
4. FAQ
1. Complete the Preparation
Before participating in the new Spotlight project, please ensure you have completed the account advanced KYC verification(KYC2) and familiarize yourself with the Spotlight rules：https://www.kucoin.com/news/en-announcement-of-sui-token-sale-on-kucoin-spotlight
Then please log in to your account and find the spotlight entrance and page where you can also find the spotlight details
.
On the KuCoin Spotlight page, you can see the in-progress project - SUI. Click the SUI Spotlight banner to participate.
After you have completed the Individual Identity Verification, read and agreed to the "Token Sale Agreement", you can join this Spotlight by clicking the 'Register' button on the spotlight page.
After you register in this Spotlight, you will see the event in progress and please stay tuned for more information.
2. Spotlight Token Sale Details
KuCoin will be launching the 25th Spotlight Token Sale with Sui (SUI) at 23:00 on April 14, 2023 (UTC). There will be 2 ways to participate in the SUI token sale: Hold & Gain Lottery Tickets for General Public Sale Participation and Ecosystem Contributor Allowlist-Only Public Sale Participation. For more details, please refer to the announcement https://www.kucoin.com/news/en-announcement-of-sui-token-sale-on-kucoin-spotlight and landing page：https://www.kucoin.com/land/spotlight_r6/153_Sui
Spotlight Token Sale Details (Pool A): KuCoin General Public Sale
| Subscription Start Time | 00:00 on April 15, 2023 (UTC) |
| Subscription End Time | 16:00 on April 22, 2023 (UTC) |
| Spotlight Hard Cap | 22,500,000 USD |
| Spotlight Allocation | 225,000,000 SUI |
| Total Winning Tickets | 22,500 Tickets |
| Maximum Winning Tickets per User | 1 Ticket |
| Total SUI for Each Winning Ticket | 10,000 SUI (1,000 USD) |
| Spotlight Token Sale Price | 1 SUI = 0.1 USD |
| Token Sale Format | Hold & Gain Lottery Tickets |
| Spotlight Token Distribution Plan | 1/13 will be unlocked on the Token Generation Event (TGE). After 30 days, an additional 1/13 shall be released monthly (before the 26th of each month), such that all Spotlight allocations are released within twelve months from the TGE date. |
| Token Supported | USDT, USDC, BTC, ETH, and KCS |
How to Participate: From 00:00 on April 15, 2023 to 16:00 on April 22, 2023 (UTC), we will randomly take hourly snapshots of users' USDT, USDC, BTC, ETH, and KCS balances. The hourly average USDT-denominated Net Asset Value (NAV) of USDT, USDC, BTC, ETH, and KCS will determine the final number of lottery tickets each user can receive. Winners are chosen in a lottery draw after the subscription period.
To be eligible for participation, users are required to have a daily average USDT-denominated Net Asset Value (NAV) of at least $50. The more holdings a user has, the more tickets they will receive. With more details, please refer:
| Holding | Tickets |
| ≥50 USDT, <500 USDT | 1 |
| ≥500 USDT，<1,000 USDT | 2 |
| ≥1,000 USDT，<2,000 USDT | 3 |
| ≥2,000 USDT，<3,000 USDT | 4 |
| ≥3,000 USDT，<4,000 USDT | 5 |
| ≥4,000 USDT，<5,000 USDT | 6 |
| ≥5,000 USDT，<6,000 USDT | 7 |
| ≥6,000 USDT，<7,000 USDT | 8 |
| ≥7,000 USDT，<8,000 USDT | 9 |
| ≥8,000 USDT，<9,000 USDT | 10 |
| ≥9,000 USDT，<10,000 USDT | 11 |
| ≥10,000 USDT | 15 |
(Sub-accounts cannot participate in the Token Sale as independent accounts. However, the tokens held in the Sub-accounts will be combined with the token holdings in the Master account to calculate the Average Daily Holdings.)
Users who invite newly registered KuCoin users to successfully participate in the SUI Spotlight Token Sale can get a maximum of 37 USDT rewards. You can check more details here：https://www.kucoin.com/land/activity/spotlight_fiesta_referral_exclusive?utm_source=activity_spotlight_fiesta_referral_exclusive
Invitees who successfully participate in the SUI Spotlight Token Sale can win an extra ticket in addition to the USDT-denominated Net Asset Value (NAV) tickets. (Invitees must be newly registered KuCoin users.)
Spotlight Token Sale Details (Pool B): Allowlisted Ecosystem Contributors Only
| Spotlight Hard Cap | 750,000 USD |
| Spotlight Allocation | 25,000,000 SUI |
| Total Winning Tickets | 16,666 Tickets |
| Maximum Winning Tickets per User | 1 Ticket |
| Total SUI for Each Winning Ticket | 1,500 SUI (45 USD) |
| Spotlight Token Sale Price | 1 SUI = 0.03 USD |
| Token Sale Format | Allowlist provided by the Sui Foundation |
| Spotlight Token Distribution | 100% will be unlocked at mainnet launch |
How to Participate (Pool B):
This pool is open to the SUI ecosystem contributors only. To participate in Spotlight Pool B, users must have been officially whitelisted by the SUI project. SUI will collect the list of qualified users' email addresses and send it to KuCoin for verification. The whitelisted users must register on KuCoin using the same email address, otherwise they may have no access to purchase the tokens.
From10:30 on April 19, 2023 to16:00 on April 22, 2023 (UTC), all the allowlist users must complete all subscription processes (pass KYC2, not from restricted areas, and agree with the Purchase Agreement) and click the ‘Register’ button on the Token Sale page. (allowlist users can finish KYC2 in advance)
Please note:
- Pool B subscription page will be online at 15:00 on April 21, 2023 (UTC);
- Pool B allowlisted winning users cannot participate in Pool A;
- If the number of registered allowlist users is less than 16,666, the remaining token allocations will be reallocated to Pool A.
3. Spotlight Token Sale Timeline
| Pool A Subscription period | 00:00 on April 15, 2023 to 16:00 on April 22, 2023 (UTC) |
| Pool B Subscription period | 15:00 on April 21, 2023 to 01:00 on May 1, 2023 (UTC) |
| Ticket Calculation | 16:00 on April 22, 2023 to 12:00 on April 23, 2023 (UTC) |
| Lottery Ticket Announcement | 13:00 on April 23, 2023 (UTC) |
| Lottery Ticket Draw Result | 04:00 on April 24, 2023 (UTC) |
|
Token Distribution |
08:00 on April 24, 2023 to 08:00 on April 26, 2023 (UTC) |
| Complete KYC2 (Advanced Identification Verification) |
Before 16:00 on April 22, 2023 (UTC) |
For all lottery winners, we highly recommend depositing at least 1,000 USDT in your Trading Account from 08:00 on April 24, 2023 to 08:00 on April 26, 2023 (UTC).
4.FAQ
1. Which accounts are included in USDT-denominated Net Asset Value (NAV) with Pool A?
The snapshot involves the daily average USDT-denominated net assets of all accounts including Main Account, Trading Account, Margin Account, Futures Account, Trading Bot Account, Financial Account, and Wealth Account.
2. What tokens will be calculated into the Net Asset Value (NAV) for this Spotlight event?
Users' USDT, USDC, BTC, ETH, and KCS balances will be calculated into the Net Asset Value (NAV) for this Spotlight event.
3.What is the calculation rule of the Net Asset Value?
KuCoin will use the daily average USDT-denominated Net Asset Value (NAV) of USDT, USDC, BTC, ETH, and KCS to calculate the final number of tickets that users can receive (including Main Account, Trading Account, Margin Account, Futures Account, Trading Bot Account, Financial Account, and Wealth Account).
For example, the NAV for Main Account is calculated by using the formula "the sum of the hourly random snapshot of USDT-denominated Net Asset Value of the Main Account/24 hours
4. Can I participate in Pool A and Pool B at the same time?
Please note that Pool B users can also participate in Pool A.
5.What’s the Maximum Winning Tickets per user?
Please note that the maximum winning tickets for per User is 1 Ticket.
6. What’s the distribution plan?
For Pool A users, 1/13 will be unlocked on the Token Generation Event (TGE). After 30 days, an additional 1/13 shall be released monthly (before the 26th of each month), such that all Spotlight allocations are released within twelve months from the TGE date.
For Pool B users, 100% will be unlocked at mainnet launch.
7. How to get the extra ticket?
Please note that invitees who successfully participate in the SUI Spotlight Token Sale can win an extra ticket in addition to the USDT-denominated Net Asset Value (NAV) tickets. (Invitees must be newly registered KuCoin users.)
8.Why is SUI token sale price different for Pool A users and Pool B ones?
Please note that the price setting depends on the project side, thank you for your attention and support.
9.Learn More About SUI (SUI)
Sui (or Sui Network) is the first Layer 1 blockchain designed from the ground up to enable creators and developers to build experiences that cater to the next billion users in web3. Sui is horizontally scalable to support a wide range of dApp development with unrivaled speed at a low cost. The first-of-its-kind platform brings users a general-purpose blockchain with high throughput, instant settlement speeds, rich on-chain assets, and user-friendly web3 experiences. Sui is a step-function advancement in blockchain, designed from the bottom up to meet the needs of the next billion users in crypto.
SUI Project Links
Website: https://sui.io/
Whitepaper: Click to View
Twitter: https://twitter.com/SuiNetwork
Discord: https://discord.com/invite/sui
Medium: https://medium.com/mysten-labs
We hope this article has been helpful. Please reach out to our 24/7 customer support via online chat or submit a ticket if you have any other questions.
Happy trading on KuCoin!