KuCoin will launch the KCS lockup & cash back program

By CEDCryptoCoin | CEDCryptoCoin | 30 Jul 2019

The KuCoin Exchange opened for cryptocurrency trading in September 2017 and has enjoyed steady growth into 2019. The KuCoin Exchange puts a high priority on the quality of the projects listed based on a well-trained research department that scours the blockchain industry for the highest quality projects. KuCoin provides an exchange service for users to conduct digital asset transactions securely and efficiently. Over time, KuCoin aims to provide long-lasting, increased value to its more than five million registered users, in over 100 countries. In November 2018, ‘The People’s Exchange’ officially partnered with IDG Capital and Matrix Partners.

Cryptocurrency exchange KuCoin, the daily trading volume of which is $715 million, this Monday announced the launch of the program to develop the ecosystem of its cryptocurrency KuCoin Shares (KCS).

According to the announcement, on August 1, the program for all KuCoin users will be launched, with the help of which they can receive from 35% to 50% of profits on the KCS they blocked. Under this program, KCS holders can lock between 200 and 10,000 KCS for 90 days. Yields will depend on the date when the KCS holder decides to lock down its assets. If for some reason the participant of the program wants to prematurely unblock the tokens, then he will be withheld a 10 percent commission from the amount of KCS-deposit and all accrued profits.

The minimum amount for a single lockup is 200 KCS while the daily maximum lockup amount per person is 10,000 KCS. The daily maximum lockup amount for the entire platform is 500,000 KCS, and when the total lockup amount reaches 5,000,000 KCS, users will not be able to lock their KCS.

Rules of Lockup and Cash Back

How to lockup: For users who hold KCS and expect to lock KCS, please withdraw the KCS to LOCKKCS via the withdrawal page. (Visit the KCS withdrawal page, fill in the KCS address LOCKKCS in the wallet address bar.)
Lockup period: Users can lock KCS at any time from August 1st to August 31st, 2019 (UTC+8), and lock KCS for 90 days from the date of lockup.
Lockup limit: The minimum amount for single lockup is 200 KCS; The daily maximum lockup amount per person is 10,000 KCS; The daily maximum lockup amount for the entire platform is 500,000 KCS; when the total lockup amount reaches 5,000,000 KCS, users will not be able to lock their KCS.
Rate of return: The highest annualized rate of return is up to 50%, with a minimum of 35%. The earlier you lock KCS, the higher the rate of return you will get; the lockup revenue will be distributed along with the principal on day of unlocking.
Referral reward: You can get 10% of the friend's revenue as a referral reward, the reward will be distributed after the referee's lockup period expires. When the referee locks the position, he/she needs to enter the referral code of the referrer in the withdrawal note to associate the referral relationship.
Unlock in advance: If the user wants to unlock their KCS in advance the unlock date, please contact KuCoin support to apply for unlocking. After the application is approved, the KCS that you locked will be refunded to the original address within 24 hours. 10% of your funds for lockup will be charged as the early unlocking fee and the revenue will not be paid

In addition to the above benefits, users who have locked more than 1000 KCS will receive the next round of KuCoin Spotlight free airdrops. Please pay attention to the later announcements for specific rules.

Lockup Date(UTC+8) 2019-8-1 into 2019-10-30 - 50%
2019-8-2 into 2019-10-31 - 49.50%
atd.

last 2019-8-31 into 2019-11.29 - 35%

*The locked-up KCS will not be eligible for the KCS bonus.

KuCoin lockup registered

Staking economy is one of the hottest topics in 2019 and many well-known projects like ATOM, EOS and TRX are offering staking services. The annualized rate of return of staking is usually 6%-12%, while in the KCS Lockup & Cash Back Program, the highest annualized rate of return is up to 50%, with a minimum of 35%. The earlier you lock KCS, the higher the rate of return you will get. All the lockup revenue will be distributed along with the principal on day of unlocking.

KuCoin also introduced the KCS Burn mechanism in this program. According to the announcement, KuCoin will additionally burn the same number of KCS based on the number of total KCS locked by all users. The burn plan will be implemented in December 2019.

The KuCoin team also announced the date of the burning of KCS. It is expected that this will happen in December this year. KuCoin will also buy KCS deposited from its members 10% below market value.

According to Coinmarketcap, on the background of today's news, the price of KCS rose by 10% and reached the mark of $1.45. At the time of publication, KuCoin Shares is the 50th major asset with a capitalization of $127 million.

KuMEX Simulated Rate of Return Competition: 10,000 KCS to Give Away!

To celebrate the public beta launch of KuMEX, the platform will deposit demo assets of 1 XBT (that is, 1 BTC) into each user's account for simulated trading. The activity will last for 3 weeks after launch, with a total reward of 10,000 KCS for each week of the event.

Since we launch the simulated trading competition, we appreciate the support of our community. In order to allow more users to experience KuMEX, we will launch the fourth round of KuMEX simulated rate of return competition.

Rules of the Fourth Round:

Time for the Fourth round: From 11:00:00 on July 29, 2019, to 11:00:00 on August 05, 2019 (UTC+8).
Return rate = (Snapshot of Total Equity in Account at the End of the Fourth Round / Snapshot of Total Equity in Account at the Start of the Fourth Round -1) * 100%
The snapshot lasts around 10 minutes. The final account equity is subject to the snapshot results.
Rewards Rules 1: Users ranking top 1-5 will share 6000 KCS rewards in proportion to their return rate. For example, user’s KCS reward=this user’s return rate/sum of top 1-5 users’ return rate * 6000 KCS
Rewards Rules 2: Users ranking 6 and below with a return rate greater than 50% will share 4000 KCS equally.
Rewards will be distributed within 3 days of the campaign ending.