Announcement of Bitbns (BNS) Token Sale on KuCoin Spotlight
Dear KuCoin Users,
KuCoin will launch the next round of the Spotlight token sale with Bitbns (BNS) on July 23, 2020 (UTC+8). The new round of the BNS token sale will operate using Lottery Ticket Acquisition (web-only access)and Flash Sale Rules (see below).
Learn more about Bitbns on YouTube:
Spotlight Token Sale Details:
- Token Name: Bitbns (BNS)
- Token Type: ERC-20
- Spotlight Hard Cap: 1,000,000 USDT
- Spotlight Allocation: 41,666,666 BNS
- Spotlight Token Sale Price: 1 BNS = 0.024 USDT
- Token Supported: KuCoin Shares (KCS) Only
- Price Ratio: The actual price ratio of KCS will be announced on the day of the Token Sale
- Token Sale Format: Lottery & Flash Sale
- Spotlight Token Distribution: The BNS will be distributed immediately after the successful deduction of KCS.
- Total Token Supply: 2,500,000,000 BNS
- Initial Circulating Supply: 56,841,667 BNS
- Bitbns Website: https://bitbns.com
- Bitbns Whitepaper: https://bitbns.com/bns/whitepaper.pdf
- Bitbns Community: https://t.me/Bitbns
A. India Exclusive - Bitbns Flash Sale (Participate Now)
- Flash Sale Participation Start Time: 20:00:00 on July 31, 2020 (UTC+8)
- Flash Sale Allocation: 21,250,000 BNS (51% of total allocation)
- Allocation Per Flash Sale Share: 51 USDT (2,125 BNS)
To participate in the token sale, your KuCoin account needs to meet the following criteria:
- Complete the KYC verification and be verified as an Indian user before 23:59:59 on July 30, 2020 (UTC+8). The KYC verification review takes 1-3 working days, so please submit KYC certification in advance.
- Users who pass the Advanced KYC and are verified as an Indian identity will be eligible for the purchase.
- Purchase Agreement Signed
- After completing the steps above, click the Participate Now button on the Flash Sale page to claim your share.
- We use a“First-Come, First-Served” mechanism, only the first 10,000 participants will get the BNS Flash Sale Shares.
- Up to 1 winning share per user.
B. Lottery Ticket Acquisition (Register Now) *only support web access
- Token Sale Participation Start Time: 21:00:00 on July 23, 2020 (UTC+8)
- Token Sale Participation End Time: 23:59:59 on July 30, 2020 (UTC+8)
- Lottery Ticket Allocation: 20,415,850 BNS
- Allocation Per Winning Ticket: 200 USDT (8,333 BNS)
- Each successful participant can claim a different number of lottery tickets according to different conditions that are met.
- Each winning ticket is eligible to purchase 200 USDT worth of the BNS tokens (fixed amount) using KCS.
- Up to 2 winning tickets per user.
Part 1: Total Fees Contribution:
Allocation: 10,207,925 BNS (24.5% of total allocation)
Condition: Transaction Fee Contribution
Counting Period: From 00:00:00 on July 24, 2020 to 23:59:59 on July 30, 2020 (UTC+8)
Transaction Fee Contribution Rules: KuCoin will count the total transaction fees during a 7-day counting period starting at 00:00:00 on July 24, 2020 (UTC+8), and ending at 23:59:59 on July 30, 2020 (UTC+8). The total transaction fees generated from your Spot trading, Leverage trading and Futures trading will all be included. The corresponding number of lottery tickets each user is entitled to is based solely on the total transaction fees contributed by the traders (hereinafter referred to as "X") within the 7-day counting period.
| Serial No. | Total Transaction Fees (X:USDT) | No. of Lottery Tickets |
| 1 | 1 ≤ X < 3 | 1 |
| 2 | 3 ≤ X < 6 | 2 |
| 3 | 6 ≤ X < 9 | 4 |
| 4 | 9 ≤ X < 12 | 6 |
| 5 | X ≥ 12 | 10 |
*Sub-accounts can’t participate in the token sale as an independent account. However, the Total Transaction Fees Contribution of the Sub-accounts will be combined into the Master account for the calculation of Total Transaction Fees Contribution.
Part 2: KCS Holdings:
Allocation: 10,207,925 BNS (24.5% of total allocation)
Condition: KCS Holding Amount
Counting Period: From 00:00:00 on July 16, 2020 to 23:59:59 on July 30, 2020 (UTC+8)
KCS Holding Rules: KuCoin will be randomly taking daily snapshots of KCS holdings starting at 00:00:00 on July 16, 2020 (UTC+8), and ending at 23:59:59 on July 30, 2020 (UTC+8). From these daily snapshots, each user’s daily average of KCS holdings will be determined. The corresponding number of lottery tickets each user is entitled to is based solely on the average daily KCS balance held by the user (hereinafter referred to as "X") within the 15-day counting period.
| Serial No. | Average Daily KCS Balance (X) | No. of Lottery Tickets |
| 1 | 25 ≤ X < 250 | 1 |
| 2 | 250 ≤ X < 1,000 | 2 |
| 3 | 1,000 ≤ X < 2,500 | 4 |
| 4 | 2,500 ≤ X < 4,000 | 6 |
| 5 | 4,000 ≤ X < 6,000 | 8 |
| 6 | X ≥ 6000 | 10 |
*Sub-accounts can’t participate in the token sale as an independent account. However, the KCS holdings in the Sub-accounts will be combined into the Master account for the calculation of Average Daily KCS Balance.
Daily KCS Holding Calculation Rules:
- Main Account * 100%
- Trading Account * 100%
- Total Face Amount of KCS in Margin Account * 10%
- Pool-X Account (including locked amount) * 100%
For example:
User A has a daily average of 600 KCS in the 15-day counting period, which matches the condition of Serial No. 2 and will receive 2 lottery tickets.
User B has a daily average of 3,000 KCS in the 15-day counting period, which matches the condition of Serial No. 4 and will receive 6 lottery tickets.
Spotlight Token Sale Timeline:
- At 21:00:00 on July 23, 2020 (UTC+8), KuCoin will launch the Spotlight Token Sale (Lottery Ticket Acquisition）and open the activity registration for Bitbns.
- At 23:59:59 on July 30, 2020 (UTC+8), KuCoin will end this round of token sale registrations, count the lottery tickets of all successfully registered users and randomly select the winning tickets.
- At 17:00:00 on July 31, 2020 (UTC+8), KuCoin will announce all successfully registered users’ lottery tickets and winning tickets on the Spotlight page.
- At 20:00:00 on July 31, 2020 (UTC+8), KuCoin will launch the Bitbns Flash Sale event.
- From 21:30:00 to 22:30:00 on July 31, 2020 (UTC+8), KuCoin will deduct the corresponding KCS in the winning users’ trading account and distribute corresponding BNS. Please ensure you have sufficient KCS in your trading account on July 31, 2020. If the deduction is successful, the BNS will be distributed immediately to your deposit account, otherwise the purchase qualification will be lost.
- At 23:00:00 on July 31, 2020 (UTC+8), KuCoin will list BNS and open the trading service for BNS.
To participate in the token sale, your KuCoin account needs to meet the following criteria:
- Complete the KYC2 (Advanced Verification) before 23:59:59 on July 30, 2020 (UTC+8). The KYC verification review takes 1-3 working days, so please submit KYC certification in advance.
- The following countries/areas are not supported for the purchase: The United States, U.S. Outlying Islands, American Samoa, United States Virgin Islands, Guam, Northern Mariana Islands, Japan, Bahamas, Botswana, Ghana, Pakistan, Yemen, Zimbabwe, Cambodia, Iceland, Mongolia, Albania, Mauritius, Nicaragua, Uganda, Barbados, Myanmar, Syria, Iran, North Korea, Sudan, Cuba, Iraq, Central African Republic, Bosnia and Herzegovina, Mainland China, Congo, Eritrea, Libya, Somalia, South Sudan, Lebanon.
- Purchase Agreement Signed
- After completing the steps above, please be sure to click the Participate Now button on the Spotlight page.
Note: The above steps can be completed on the Spotlight page before the start time of the Token Sale.
Already Registered? Need More KCS? Earn Extra Rewards Now!
A. Leverage your gains with no risk, enjoy 10 USDT trial-fund on KuCoin Futures
B. Earn more rewards by deposting or trading at ATOM and XRP market on KuCoin
Risk Warning: Spotlight is a high-risk investment channel. Investors should be sensible in their participation and be aware of investment risks. KuCoin is not liable for users’ investment gains or losses. The information we provide is for users to conduct their own research. It is not investment advice. KuCoin reserves the right of final interpretation of the activity.
Thanks for your support!
The KuCoin Team
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