KuCoin Will Launch the Acquirement Plan for AUSD
24/05/2024 09:41:16
Dear KuCoin Users,
According to the Special Treatment Rules of KuCoin, the Acala Dollar (the “AUSD” or “Token”) has been disqualified, and the Token will be removed from the platform.
KuCoin has been constantly urging and working with the Acala project team (the“Project Team”) to try to find out and implement a reasonable solution to mitigate losses that the AUSD holders might suffer due to the AUSD project’s incident. Unfortunately, despite several rounds of communications with the Project Team, up until now, a reasonable solution still couldn’t be reached due to lack of cooperation from the Project Team.
Nevertheless, as an exchange always considers users' benefits to as its top priority, KuCoin decides to voluntarily launch an Acquirement Plan for AUSD holders on KuCoin platform. The acquirement plan are as follows:
Closing deadline for trading, deposit and withdrawal services are as follows:
1. The AUSD/USDT trading pair will be delisted at 10:00:00 on May 23, 2024 (UTC). For better management of your funds, we recommend that you cancel your pending orders of the relative project as soon as possible;
2. The deposit and withdrawal services of AUSD will remain closed.
Acquirement details are as follows:
1. Acquirement target users: eligible AUSD holders who completes and submits the acquirement application form per request;
2. Acquirement application form submission period: from 14:00:00 on May 23, 2024 to 14:00:00 on June 13, 2024 (UTC). To be eligible for the acquirement, holders shall fill out and submit the AUSD Token Acquirement Application Form WITHIN the above-mentioned period. The form will open for submission at 14:00:00 on May 23, 2024.
3. Snapshot and holding eligibility: The snapshot of users’ AUSD assets will be taken at 10:00:00 on June 24, 2024 (UTC). Minimum holding for eligibility:20 AUSD;
4. Acquirement method: KuCoin will convert AUSD in USDT for the eligible holders who completes and submits the acquirement application form, and KuCoin will distribute USDT into those holders' KuCoin Funding Account within 15 working days after the above-mentioned acquirement application submission period ends;
5. Acquirement price: Average price during the 30 days prior to the closure of AUSD/USDT trading pair.
Note:
1. Holders who fail to complete and submit the acquirement application form within the above-mentioned acquirement application submission period will be deemed as to have given up the funds and will have no rights to reclaim the funds or receive any other equivalent products from KuCoin.
2. For users who DO NOT intend to participate in the activity, we suggest you pay attention to the afore-mentioned closing time of trading services for AUSD/USDT before the trading closes.
3. If you can't open this form within the Acquirement application form submission period, please submit a support ticket with your UID, email and a screenshot of your AUSD holding amount via: Service-Submit a ticket.
4. KuCoin reserves the right of final interpretation of this activity.
For further information on the Acala Dollar (AUSD) incident, please refer to:
KuCoin Announcement to the Acala Community Regarding the aUSD Incident
Announcement Regarding the Resuming Operations of Acala Network
Thank you for your understanding.
Regards,
The KuCoin Team
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