Cirus (CIRUS) Is Available on BurningDrop
Dear KuCoin Users,
Cirus (CIRUS) will be available on BurningDrop from 10:00:00 on August 13, 2021 (UTC). Users can mine CIRUS by staking USDT/KCS/ETH assets. During the Burning Acceleration Period, users who have already staked can enjoy more CIRUS rewards by burning POL. (All times for this announcement refer to the UTC time zone)
Products Details:
| Staking Products | Fixed Income Pool USDT-FOR-CIRUS-20D | Premium Pool ETH-FOR-CIRUS-20D | Deluxe Pool KCS-FOR-CIRUS-20D |
| CIRUS Distribution Coefficient | 1 | 1.2 | 1.5 |
| Hard Cap of Whole Platform | 1,000,000 USDT | 385 ETH | 140,200 KCS |
| Hard Cap of Single User | 1,500 USDT | 0.5 ETH | 150 KCS |
Timeline and Rules: (Go to BurningDrop)
*Subscription Period: 2021/08/13 10:00:00 - 2021/08/14 10:00:00
*Burning Acceleration Period: 2021/08/14 14:00:00 - 2021/08/15 14:00:00
*Staking Period: 2021/08/15 16:00:00 - 2021/09/04 15:59:59
*Total Amount of CIRUS: 770,000
*Rewards Distribution: 25% of the CIRUS rewards will be distributed before CIRUS trading starts in the KuCoin Spot Market. The remaining will be distributed in 25% batches every month.
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-CIRUS-20D section and 0.1 ETH in the ETH-FOR-CIRUS-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 (70 * 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 CIRUS = (F’/ Overall Final Allocation) * Total Amount of CIRUS
Introduction of Project: Cirus is a simple, yet powerful platform that turns your data into cryptocurrency. Cirus facilitates true ownership of your largest digital asset by enabling you to control, monetize and earn directly from your own data. The Cirus Platform unlocks your data asset, providing passive income and serving as the entry-point into the digital economy with connections to DeFi, Network rewards, or fiat offramps. While anyone can access the Cirus Platform and leverage the benefits of data ownership, the Cirus Device (a WiFi router) can also maximize your earning potential from all internet-enabled devices in your home. It’s your Data, Own it!
Notes:
1. 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.
2. Users need to be registered on KuCoin to join this BurningDrop activity.
3. 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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