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Announcement of Hot Cross (HOTCROSS) Token Sale on KuCoin Spotlight

Announcement of Hot Cross (HOTCROSS) Token Sale on KuCoin Spotlight

05/18/2021, 10:37:52

Dear KuCoin Users,

KuCoin will be launching the 10th Spotlight token sale with Hot Cross (HOTCROSS) on May 18, 2021 (UTC). The new round of the HOTCROSS token sale will operate using the proportional distribution model. *web-access preferred.

Spotlight Token Sale Details: (Subscribe Now)

  1. Token Name: Hot Cross (HOTCROSS)
  2. Spotlight Hard Cap: 250,000 USDT
  3. Spotlight Allocation: 5,000,000 HOTCROSS
  4. Spotlight Token Sale Price: 1 HOTCROSS = 0.05 USDT
  5. Token Supported: KuCoin Token (KCS) Only
  6. Price Ratio: The actual price ratio of KCS will be announced on the day of the Token Sale
  7. Token Sale Format: Proportional Distribution Model
  8. Spotlight Token Distribution: The HOTCROSS will be distributed immediately after the successful deduction of KCS.
  9. Total Token Supply: 500,000,000 HOTCROSS
  10. Initial Circulating Supply: 85,750,000 HOTCROSS (17.15% of total supply)
  11. Hot Cross Website: https://hotcross.com

How to Participate

Participants must have KCS holdings of at least 300 KCS, where their final allocation of the new token is determined by the portion of their KCS holdings against the total KCS holdings by all participating users. To ensure a fair allocation for all participants, there will be a set hard cap for the token allocation per user.

  1. Token Sale Subscription Start Time: 12:00:00 on May 18, 2021 (UTC)
  2. Token Sale Subscription End Time: 00:00:00 on May 20, 2021 (UTC)
Minimum KCS holdings for eligibilityHard Cap Per User
300 KCS100 USDT

The Shares You Will Receive:

(User’s KCS holdings / Total KCS holdings of all participants) * Total Spotlight Allocation (5,000,000 HOTCROSS)

KCS Holdings

From 16:00:00 on May 17, 2021 to 16:00:00 on May 19, 2021 (UTC), KuCoin will be randomly taking 3 daily snapshots of KCS holdings. From these daily snapshots, each user’s KCS Holdings (the average from the 3 holding snapshots) will be determined.

*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%
  • Pool-X Account (including locked and unlocked assets) * 100%

Ongoing Pool-X staking programs for KCS (locked assets):

  • KCS-FOR-XCAD-20D
  • KCS-FOR-LNCHX-20D
  • KCS-FOR-TCP-20D
  • KCS-LockDrop-360D
  • KCS(beta) Staking

Spotlight Token Sale Timeline:

  1. At 12:00:00 on May 18, 2021 (UTC), KuCoin will launch the Spotlight Token Sale and open the subscription for HOTCROSS.
  2. At 00:00:00 on May 20, 2021 (UTC), KuCoin will end this round of token sale registrations, counting the shares of all successfully registered participants.
  3. From 08:00:00 to 09:00:00 on May 20, 2021 (UTC), KuCoin will deduct the corresponding amount of KCS in the qualified users’ Trading Account and distribute the corresponding amount of HOTCROSS. Please ensure you have at least 20 KCS in your trading account on May 20, 2021. If the deduction is successful, the HOTCROSS will be distributed immediately to your main account, otherwise your eligibility to purchase in the Spotlight will be lost.

Please note that the amount of HOTCROSS shares you will receive is based on your average daily KCS holdings.

To participate in the token sale, your KuCoin account needs to meet the following criteria:

  1. Complete KYC2 (Advanced Verification) before 00:00:00 on May 20, 2021 (UTC). If you fail to pass KYC2, then you will not be eligible for the token sale subscription.
  2. The following countries/areas are not supported for the purchase: Mainland China, Cuba, North Korea, Timor-Leste, Cambodia, Republic of the Union of Myanmar, Laos, Tanzania, Russia, Serbia, Tunisia, Uganda, Mali, Afghanistan, Albania, Central African Republic, Republic of Côte d'Ivoire, Somalia, Zimbabwe, Democratic Republic of the Congo, Japan, Republic of the Congo, Malawi, Mozambique, Crimea, Kyrgyzstan, Bosnia and Herzegovina, Uzbekistan, The United States, U.S. Outlying Islands, Turkmenistan, Burundi, South Sudan, Sudan (north), Sudan (Darfur), the Republic of Guinea, Guinea-Bissau, the Republic of North Macedonia, the Lebanese Republic, Kosovo, Turkey, Iran, Iraq, Libya, Syria, Ethiopia, Yemen, Sri Lanka, Ukraine, Belarus, Trinidad and Tobago, and Venezuela.
  3. Purchase Agreement Signed
  4. 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.

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