Earth Fund (1EARTH) Is Available on BurningDrop
Dear KuCoin Users,
Earth Fund (1EARTH) will be available on BurningDrop from 14:00:00 on November 17, 2021 (UTC). Users can mine 1EARTH by staking USDT/KCS/ETH assets. During the Burning Acceleration Period, users who have already staked can enjoy more 1EARTH rewards by burning POL. (All times for this announcement refer to the UTC time zone)
Products Details:
| Staking Products | Fixed Income Pool USDT-FOR-1EARTH-20D | Premium Pool ETH-FOR-1EARTH-20D | Deluxe Pool KCS-FOR-1EARTH-20D |
| 1EARTH Distribution Coefficient | 1 | 1.2 | 1.5 |
| Hard Cap of Whole Platform | 2,000,000 USDT | 690 ETH | 117,650 KCS |
| Hard Cap of Single User | 2,000 USDT | 0.5 ETH | 120 KCS |
*Subscription Period: 2021/11/17 14:00:00 - 2021/11/17 22:00:00
*Burning Acceleration Period: 2021/11/18 02:00:00 - 2021/11/18 14:00:00
*Staking Period: 2021/11/18 16:00:00 - 2021/12/08 15:59:59
*Issue Price: 1 1EARTH = 0.005 USDT
*Total Amount of 1EARTH: 50,000,000
*Rewards Distribution: 20% of the 1EARTH rewards will be distributed before 1EARTH trading starts in the KuCoin Spot Market. The remaining 80% will be distributed in 20% batches every month after the 1st distribution.
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-1EARTH-20D section and 0.1 ETH in the ETH-FOR-1EARTH-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 1EARTH = (F’/ Overall Final Allocation) * Total Amount of 1EARTH
Introduction of Project: 1EARTH is the ERC-20 governance token for the Earth Fund DAO, the decentralized ecosystem using the blockchain to tackle the climate emergency. Built by a team of successful entrepreneurs, CEOs, climate scientists, and crypto veterans and powered by a protocol fee, Earth Fund gives you a real voice in your future and control over how the Earth Fund treasury is used to fund planet-saving projects around the world.
The 1EARTH token lets you:
-Join cause-specific sub-communities and choose which projects get funding
-Earn 1EARTH for participating in the DAO
-Have a voice in the direction of Earth Fund on its path to complete decentralization and autonomy
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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