UpOnly (UPO) Is Available on BurningDrop
Dear KuCoin Users,
UpOnly (UPO) will be available on BurningDrop from 11:00:00 on April 1, 2022 (UTC). Users can mine UPO by staking USDT/KCS/ETH assets. During the Burning Acceleration Period, users who have already staked can enjoy more UPO rewards by burning POL. (All times for this announcement refer to the UTC time zone)
Products Details:
| Staking Products | Fixed Income Pool USDT-FOR-UPO-20D | Premium Pool ETH-FOR-UPO-20D | Deluxe Pool KCS-FOR-UPO-20D |
| UPO Distribution Coefficient | 1 | 1.2 | 1.5 |
| Hard Cap of Whole Platform | 5,500,000 USDT | 1,630 ETH | 329,200 KCS |
| Hard Cap of Single User | 2,000 USDT | 0.8 ETH | 120 KCS |
*Subscription Period: 2022/04/01 11:00:00 - 2022/04/01 23:00:00
*Burning Acceleration Period: 2022/04/02 02:00:00 - 2022/04/02 14:00:00
*Staking Period: 2022/04/02 16:00:00 - 2022/04/22 15:59:59
*Issue Price: 1 UPO = 0.16 USDT
*Total Amount of UPO: 3,200,000
*Rewards Distribution: 30% of the UPO rewards will be distributed before UPO trading starts in the KuCoin Spot Market. 30% will be distributed after one month from the 1st distribution, 20% will be distributed after two months from the 1st distribution, and the remaining 20% will be distributed after three months from 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-UPO-20D section and 0.1 ETH in the ETH-FOR-UPO-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 (25 * 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 Rewards of UPO = (F’ / Overall Final Allocation) * Total Amount of UPO
Introduction of Project: A vast data directory and predictions infrastructure for everything play-to-earn and Metaverse. Priding itself in transparent and reliable data, UpOnly provides play-to-earn and Metaverse gamers with the tools they need to identify the most lucrative gaming opportunities and optimize their performance in their gaming endeavors. With UpOnly, gamers can leverage on-chain data from countless play-to-earn and Metaverse platforms and also gain access to insightful and actionable research on blockchain-based gaming.
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.
5. This activity is not related to Apple Inc.
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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