DearKuCoinUsers,
OpenLeverage(OLE)willbeavailableonBurningDropfrom10:00:00onJuly5,2022(UTC).UserscanmineOLEbystakingUSDT/KCS/ETHassets.DuringtheBurningAccelerationPeriod,userswhohavealreadystakedcanenjoymoreOLErewardsbyburningPOL.(AlltimesforthisannouncementrefertotheUTCtimezone)
ParticipationWays:Web/App
ProductsDetails:
StakingProductsFixedIncomePoolUSDT-FOR-OLE-20DPremiumPoolETH-FOR-OLE-20DDeluxePoolKCS-FOR-OLE-20DOLEDistributionCoefficient11.21.5HardCapofWholePlatform800,000USDT750ETH91,000KCSHardCapofSingleUser2,000USDT2ETH200KCS
TimelineandRules:
*SubscriptionPeriod:2022/07/0510:00:00-2022/07/0522:00:00
*BurningAccelerationPeriod:2022/07/0602:00:00-2022/07/0614:00:00
*StakingPeriod:2022/07/0616:00:00-2022/07/2615:59:59
*IssuePrice:1OLE=0.05USDT
*TotalAmountofOLE:1,000,000
*RewardsDistribution:25%oftheOLErewardswillbedistributedbeforeOLEtradingstartsintheKuCoinSpotMarket.Theremaining75%willbedistributedin25%batcheseverymonthfromthe1stdistribution.
CalculationMethod:
1)User’sInitialAllocationF=∑(IndividualstakingamountofthechosenStakingProduct*certainDistributionCoefficient*thepriceofstakedassetsinUSDTatthestartoftheSubscriptionPeriod)
e.g.Alicestaked50KCSintheKCS-FOR-OLE-20Dsectionand0.1ETHintheETH-FOR-OLE-20Dsection.AssumethatthepriceofKCSatthestartoftheSubscriptionPeriodis13USDT,andthepriceofETHatthestartoftheSubscriptionPeriodis3,400USDT.Thus,Alice’sInitialAllocationwillbe:
50*1.5*130.1*1.2*3,400=1,383
2)AcceleratingCoefficientbyburningPOL,namelyV=0.18452*arctan(20*ε-2.08)0.207166085,whereinε=AmountofthePOLuserburns/F
3)SingleUserFinalAllocationafterburningPOL=F’
4)F’=(V1)F
UserFinalRewardsofOLE=(F’/OverallFinalAllocation)*TotalAmountofOLE
IntroductionofProject:OpenLeverageisapermissionlesslendingandmargintradingprotocolwithaggregatedDEXliquidity,enablingtraderstolongorshortanytradingpaironDEXsefficientlyandsecurely.AnyonecancreatelendingpoolstosupportmargintradingforspecifictokenpairswithliquiditypoolsonDEXs.
OpenLeverageiscurrentlydeployedonEthereum,theBNBchainandKCC.Importantmilestonesincludecrossing$500millionintradingvolumeand$10millioninTVL.OpenLeverageisincubatedbyBinanceLabsandCreativeDestructionLab.IthasreceivedsecurityauditsfromPeckShield,Code4RenaandCertiK.
Notes:
1.PleasenotethatusersfromMainlandChina,TheUnitedStatesandU.S.OutlyingIslandsarenoteligibletoparticipateinthisevent.
2.AsthenumberofburnedPOLincreases,therewardsofeachPOLburningmaygraduallydecrease.UserscanenterthenumberofburnedPOLontheburningpagetotesttheavailableaccelerationcomputingpower.Pleaseburnrationally.
3.UsersneedtoberegisteredonKuCointojointhisBurningDropactivity.
4.Usersconfirmthatparticipatinginthisactivityisvoluntary,andtheKuCoinGrouphasnotforced,interferedwith,orinfluencedtheuser'sdecisioninanyway.
5.ThisactivityisnotrelatedtoAppleInc.
RiskWarning:Cryptocurrencyinvestmentishighrisk.Itiscarriedout24/7withoutclosing.Pleasepayattentiontoinvestmentrisksbeforetakingpart.KuCoinhasastrictreviewprocessforonlineprojectsbutwillnotassumeanycompensationorotherresponsibilitiesforinvestmentbehaviors.Pleasebeawareofrelatedrisksandbecautiouswheninvesting.
Thanksforyoursupportandunderstanding!
TheKuCoinTeam
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