Formation Fi (FORM) Is Available on BurningDrop
06/16/2021, 18:30:56
Dear KuCoin Users,
Formation Fi(FORM) will be available on BurningDrop from 12:00:00 on June 16, 2021 (UTC). Users can mine FORM by staking USDT/KCS/ETH assets. During the Burning Acceleration Period, users who have already staked can enjoy more FORM rewards by burning Dao Maker (DAO). (All times for this announcement refer to the UTC time zone)
Products Details:
| Staking Products | Fixed Income Pool USDT-FOR-FORM-20D | Premium Pool ETH-FOR-FORM-20D | Deluxe Pool KCS-FOR-FORM-20D |
| FORM Distribution Coefficient | 1 | 1.2 | 1.5 |
| Hard Cap of Whole Platform | 700,000 USDT | 306 ETH | 101,125 KCS |
| Hard Cap of Single User | 1,500 USDT | 0.6 ETH | 170 KCS |
Timeline and Rules: (Go to BurningDrop)
*Subscription Period: 2021/06/16 12:00:00 - 2021/06/16 22:00:00
*Burning Acceleration Period: 2021/06/17 03:00:00 - 2021/06/17 15:00:00
*Staking Period: 2021/06/17 16:00:00 - 2021/07/07 15:59:59
*Total Amount of FORM: 1,666,667
*Rewards Distribution: All the FORM rewards will be distributed on June 18, 2021.
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-FORM-20D section and 0.1 ETH in the ETH-FOR-FORM-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 DAO, namely V = 0.18452 * arctan (800 * ε - 2.08) + 0.207166085, wherein ε = Amount of the DAO user burns / F
3) Single User Final Allocation after burning DAO = F’
4) F’ = (V+1) F
User Final Allocation of FORM = (F’/ Overall Final Allocation) * Total Amount of FORM
Introduction of Project: Formation Fi is a DeFi project that aims to take yield farming to another level by integrating the risk parity strategy first implemented by billionaire hedge fund manager Ray Dalio for stock markets. The yield farming protocol developed by Formation Fi distributes risk across multiple uncorrelated assets within the crypto space.
Notes:
1. As the number of burned DAO increases, the rewards of each DAO burning may gradually decrease. Users can enter the number of burned DAO 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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