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Introducing DigitalBits (XDB) on KuCoin LockUP

Introducing DigitalBits (XDB) on KuCoin LockUP

04/02/2020, 11:22:22

Dear KuCoin Users,

KuCoin is proud to announce DigitalBits (XDB) as the second KuCoin LockUP project. The DigitalBits (XDB) LockUP will start on April 2, 2020 (UTC+8).

There are a total of 2 different sessions of DigitalBits LockUP: XDB session and KCS session. In each session, users are able to lock up XDB or KCS on KuCoin in order to receive the corresponding XDB tokens in proportion to their lockup amount.

Project Introduction:

Token Name: DigitalBits (XDB)

Project Summary:

DigitalBits is a protocol layer blockchain built to support consumer digital assets, specifically branded currencies. With a focus on mainstream crypto adoption, DigitalBits aims to solve a real-world problem by integrating with consumer brands.

Official Website: https://www.digitalbits.io/

Overview: Click to view

XDB Session Rules:

  1. Participation Qualification: Users who have a registered KuCoin account.
  2. How to Lock Up: For users who hold XDB and expect to earn reward, please withdraw XDB to LockXDB30 via the withdrawal page. (Visit the XDB withdrawal page and fill in the XDB address LockXDB30 in the wallet address bar. Note that the lockup address is case-sensitive).
  3. Subscription Period: Users can lock XDB from 22:00:00 on April 2, 2020 to 22:00:00 on April 5, 2020 (UTC+8). The lockup period will last for 30 days starting from April 6, 2020 (UTC+8).
  4. Lockup Limit: The minimum amount for a single lockup is 15,000 XDB.The individual hard cap is 180,000 XDB. When the total lockup amount reaches 45,000,000 XDB, the lockup will end ahead of schedule and users will not be able to lock their XDB.
  5. Rate of Reward: 10% monthly in XDB tokens
  6. Distribution of Reward: The principal will be returned to users after the lockup period expires. The lockup rewards will be distributed to users daily from April 7, 2020 (UTC+8) and only these rewards in XDB tokens can be traded in the Spot market.
  7. Overlocked will be invalid in the XDB LockUP Activity, and non-participating and locked XDB cannot be traded during the lockup period. The user can decide whether to withdraw or trade in the Spot market after the LockUP.

KCS Session Rules:

1. Participation Qualification: Users who have a registered KuCoin account

2. How to lockup: For users who hold KCS and expect to earn reward, please withdraw KCS to LockKCS30 via the withdrawal page. (Visit the KCS withdrawal page and fill in the KCS address LockKCS30 in the wallet address bar. Note that the lockup address is case-sensitive).

3. Subscription Period: Users can lock KCS from 22:00:00 on April 2, 2020 to 22:00:00 on April 5, 2020 (UTC+8). The lockup period will last for 30 days starting from April 6, 2020 (UTC+8).

4. Lockup Limit: The minimum amount for a single lockup is 100 KCS. The individual hard cap is 1,000 KCS. When the total lockup amount reaches 150,000 KCS, the lockup will end ahead of schedule and users will not be able to lock their KCS.

5. Rate of Reward: 10% monthly in XDB tokens. To calculate the rate of reward: First, we take the locked KCS' USDT equivalence and divide it to XDB's USDT value. The quotient is then multiplied to get its 10%, which would be equal to the 10% monthly reward amount.

*Example: User A locked 1000 KCS during the activity, assume that 1 KCS = 0.9399 USDT, then 1,000 KCS = 0.9399 * 1,000 = 939.9 USDT = 939.9/0.0155 ≈ 60,638.7 XDB.
In this case,user A will gain 10% monthly reward in XDB tokens =60,638.7 * 10% = 6,063.87XDB.

6. Price of XDB and KCS: 1 XDB = 0.0155 USDT; 1 KCS = 0.9399 USDT

7. Distribution of Rewards: The principal will be returned to users after the lockup period expires. The lockup rewards will be distributed to users daily from April 7, 2020 (UTC+8) and only these rewards in XDB tokens can be traded in the Spot market.

Note:

  1. This activity is only available to ensure that users will be able to obtain a reserved amount of XDB tokens by locking up XDB or KCS on KuCoin.
  2. We will not allow users to use the API function for this activity.
  3. There is no withdrawal fee when you withdraw XDB or KCS to the specified wallet address.
  4. Due to the restrictions of XDB LockUP activity, there is limited market liquidity in the early stage, and price fluctuations cannot represent the true level of the full opening stage of the transaction. Please pay attention to related risks and invest carefully.
  5. The final interpretation of this activity belongs to KuCoin.
  6. The KCS price is fixed at the closing price of 12:00 at April 02 2020 (UTC+8).

Risk warning: Participation in the XDB LockUP involves significant risk. Participants should be sensible in their participation and be aware of the risks. The KuCoin Group is not liable for users’ gains or losses. The information we provide is for users to conduct their own research. It is not investment advice. The KuCoin Group reserves the right of final interpretation of the activity.

Thank you for your support and understanding!

The KuCoin Team