Legends of Crypto (LOCG) BurningDrop — Staking Round Rules

Dear Pool-X Users,

Regarding the Legends of Crypto (LOCG) BurningDrop, users can choose different staking products to stake corresponding quantities of USDT/ETH/KCS, where LOCG rewards will be distributed according to the Distribution Coefficient related to the staking amount. (All times for this announcement refer to the UTC time zone)

The Staking Round rules are as follows (The total amount of LOCG is 1,111,111):

1. During the Subscription Period, users can lock their assets (USDT/ETH/KCS) into 3 different staking products;

2. After the closure of the Subscription Period, users can calculate the “Initial Allocation” of LOCG according to the overall staking amount in the pool;

3. Stepping into the Acceleration Period, users will get an “Accelerating Coefficient” by burning DAO, based on which “Final Allocation” of LOCG will be calculated;

4. After the Acceleration Period, users will get the actual amount of LOCG rewards according to the distribution rules, which will be calculated by a certain algorithm of the “Initial Allocation”, “Accelerating Coefficient” and “Final Allocation”.

*Subscription Period: 2021/04/29 10:00:00 - 2021/04/30 10:00:00

*Burning Acceleration Period: 2021/05/01 10:00:00 - 2021/05/02 10:00:00

*Staking Period: 2021/05/02 10:00:00 - 2021/05/22 10:00:00

*LOCG Distribution Rules: 33% will be distributed on May 3, 2021, 33% will be distributed in the following month, and 34% will be distributed in the third month.

Calculation Method:

1. Corresponding to the staking amount,

User’s Initial Allocation = ∑(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 1,000 USDT in the USDT-FOR-LOCG-20D section and 0.02 ETH in the ETH-FOR-LOCG-20D section. Assume that the price of ETH at the start of the Subscription Period is 2,000 USDT. Thus, Alice’s Initial Allocation will be:

1 * 1,000 * 1 + 0.02* 1.3 * 2,000 = 1,052

2. Starting from 2021/05/01 10:00:00 (UTC), the event enters into the Acceleration Period, where users can increase their Initial Allocation by burning DAO. The burning rules are as follows:

• User Initial Allocation = F
• Accelerating Coefficient by burning DAO = V
• Single User Final Allocation after burning DAO = F’
• F’ = (V+1) F
• V = 0.18452 * arctan (1900 * ε - 2.08) + 0.207166085
• ε = Amount of the DAO user burns / F

After taking the Accelerating Coefficient into account,

User Final Allocation of LOCG = Total Amount of LOCG / Overall Final Allocation * F’

3. After the Burning Acceleration Period ends, the staking period will start. 33% will be distributed on May 3, 2021, 33% will be distributed in the following month, and 34% will be distributed in the third month.

Thanks for your support!

The Pool-X Team