Socol(SIMP)willbeavailableonBurningDropfrom10:00:00onJanuary11,2023(UTC).UserscanmineSIMPbystakingUSDT/KCS/ETHassets.DuringtheBurningAccelerationPeriod,userswhohavealreadystakedcanenjoymoreSIMPrewardsbyburningPOL.(AlltimesforthisannouncementrefertotheUTCtimezone)
ParticipationWays:Web/App
ProductsDetails:
StakingProductsFixedIncomePoolUSDT-FOR-SIMP-20DPremiumPoolETH-FOR-SIMP-20DDeluxePoolKCS-FOR-SIMP-20DSIMPDistributionCoefficient11.21.5HardCapofWholePlatform1,600,000USDT1,300ETH310,000KCSHardCapofSingleUser2,400USDT2ETH350KCS
TimelineandRules:
*SubscriptionPeriod:2023/1/1110:00:00-2023/1/1122:00:00
*BurningAccelerationPeriod:2023/1/1202:00:00-2023/1/1214:00:00
*StakingPeriod:2023/1/1216:00:00-2023/2/115:59:59
*IssuePrice:1SIMP=0.03USDT
*TotalAmountofSIMP:10,000,000
*RewardsDistribution:10%oftheSIMPrewardswillbedistributedbeforeSIMPtradingstartsintheKuCoinSpotMarket.Theremaining90%willbedistributedin15%batcheseverymonthfromthe1stdistribution.
CalculationMethod:
1)User’sInitialAllocationF=∑(IndividualstakingamountofthechosenStakingProduct*certainDistributionCoefficient*thepriceofstakedassetsinUSDTatthestartoftheSubscriptionPeriod)
e.g.,Alicestaked50KCSintheKCS-FOR-SIMP-20Dsectionand0.1ETHintheETH-FOR-SIMP-20Dsection.AssumethatthepriceofKCSatthestartoftheSubscriptionPeriodis13USDT,andthepriceofETHatthestartoftheSubscriptionPeriodis3,400USDT.Thus,Alice’sInitialAllocationwillbe:
50*1.5*130.1*1.2*3,400=1,383
2)AcceleratingCoefficientbyburningPOL,namelyV=0.18452*arctan(20*ε-2.08)0.207166085,whereinε=AmountofthePOLuserburns/F
3)SingleUserFinalAllocationafterburningPOL=F’
4)F’=(V1)F
UserFinalRewardsofSIMP=(F’/OverallFinalAllocation)*TotalAmountofSIMP
Website:https://www.socol.io
Twitter:https://twitter.com/socol_io
Notes:
1.PleasenotethatusersfromMainlandChinaarenoteligibletoparticipateinthisevent.
2.AsthenumberofburnedPOLincreases,therewardsofeachPOLburningmaygraduallydecrease.UserscanenterthenumberofburnedPOLontheburningpagetotesttheavailableaccelerationcomputingpower.Pleaseburnrationally.
3.UsersneedtoberegisteredonKuCointojointhisBurningDropactivity.
4.Usersconfirmthatparticipatinginthisactivityisvoluntary,andtheKuCoinGrouphasnotforced,interferedwith,orinfluencedtheuser'sdecisioninanyway.
5.ThisactivityisnotrelatedtoAppleInc.
RiskWarning:Cryptocurrencyinvestmentishighrisk.Itiscarriedout24/7withoutclosing.Pleasepayattentiontoinvestmentrisksbeforetakingpart.KuCoinhasastrictreviewprocessforonlineprojectsbutwillnotassumeanycompensationorotherresponsibilitiesforinvestmentbehaviors.Pleasebeawareofrelatedrisksandbecautiouswheninvesting.
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TheKuCoinTeam
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