Clearpool (CPOOL) Is Available on BurningDrop

Dear KuCoin Users,

Clearpool (CPOOL) will be available on BurningDrop from 10:00:00 on October 26, 2021 (UTC). Users can mine CPOOL by staking USDT/KCS/ETH assets. During the Burning Acceleration Period, users who have already staked can enjoy more CPOOL rewards by burning POL. (All times for this announcement refer to the UTC time zone)

Participation Ways: Web / App

Products Details:

Timeline and Rules: (Go to BurningDrop)

*Subscription Period: 2021/10/26 10:00:00 - 2021/10/26 22:00:00

*Burning Acceleration Period: 2021/10/27 02:00:00 - 2021/10/27 14:00:00

*Staking Period: 2021/10/27 16:00:00 - 2021/11/16 15:59:59

*Issue Price: 1 CPOOL = 0.04 USDT

*Total Amount of CPOOL: 2,500,000

*Rewards Distribution: 40% of the CPOOL rewards will be distributed before CPOOL trading starts in the KuCoin Spot Market. The remaining 60% will be distributed after 1 month 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-CPOOL-20D section and 0.1 ETH in the ETH-FOR-CPOOL-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 (60 * 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 CPOOL = (F’/ Overall Final Allocation) * Total Amount of CPOOL

Introduction of Project: Clearpool is a Decentralized Capital Markets Ecosystem, where institutional borrowers can create single borrower liquidity pools and compete for uncollateralized liquidity directly from the DeFi ecosystem. As more institutions begin to realize the benefits that decentralized finance can bring to their organizations, Clearpool will provide the new architecture to facilitate flows between the $120 trillion traditional capital markets, and the burgeoning DeFi ecosystem.

Notes:

1.Please note that users from Mainland China are no longer 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.

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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