Announcement of Liquidswap (LSD) Token Sale on KuCoin Spotlight

KuCoin will be launching the 28th Spotlight Token Sale with Liquidswap (LSD). The LSD token sale will be operated under the Hold & Gain Lottery Tickets format.

Spotlight Token Sale Details:

1. Spotlight Hard Cap: 300,000 USDT
2. Spotlight Allocation: 420,000 LSD
3. Total Winning Tickets: 3,000 Tickets
4. Maximum Winning Tickets per User: 1 Ticket
5. Token Allocation for Each Winning Ticket: 140 LSD
6. Spotlight Token Sale Price: 1 LSD = 0.7142 USDT
7. Token Sale Price Ratio: The actual price ratio of KCS will be announced on the day of the Token Sale
8. Token Sale Format: Hold & Gain Lottery Tickets
9. Spotlight Token Distribution Plan: 40% will be unlocked at TGE. The remaining 60% will be on monthly linear vesting for 3 months.

How to Participate:

From 10:00 on July 24, 2024 to 16:00 on July 27, 2024 (UTC), KuCoin will randomly take hourly snapshots of users' USDT and KCS total balances. The hourly average USD-denominated Net Asset Value (NAV) of USDT and KCS will determine the final number of lottery tickets each user can receive. Winners will be chosen in a lottery draw after the subscription period.

In this Spotlight event, KuCoin assigns a coefficient to each currency to determine its value.

(For example: your daily average KCS holdings base value is 400 USD. Applying our calculation coefficient of 1.5, the actual value for this event will be considered as 600 USD. In this instance, you'll receive 2 tickets based on the ticket distribution rules.)

To be eligible for participation, users are required to have a daily average USD-denominated Net Asset Value (NAV) of at least 50 USD. The more holdings a user has, the more tickets they will receive.

The detailed rules are as follows:

(*Sub-accounts cannot participate in the Token Sale as independent accounts. However, the tokens held in the Sub-accounts will be combined with the token holdings in the Master account to calculate the Average Daily Holdings.)

⏰ KuCoin Spotlight Token Sale Timeline

Subscription Period: From 10:00 on July 24, 2024 to 16:00 on July 27, 2024 (UTC)

During this period, users' holdings will be calculated in hourly snapshots each day.

Ticket Calculation Period: From 16:00 on July 27, 2024 to 10:00 on July 28, 2024 (UTC)

Your final ticket allocation will be displayed on the token sale page following the conclusion of this calculation period.

Ticket Announcement: At 10:00 on July 28, 2024 (UTC)

Please check your tickets on the Spotlight page.

Lottery Ticket Draw Result: At 10:00 on July 29, 2024 (UTC)

Please check if you won the lottery draw through the Spotlight page.

Token Distribution: 08:00 to 11:00 on July 30, 2024 (UTC)

KuCoin will deduct the corresponding amount of KCS from the qualified users’ Trading Account and distribute the corresponding amount of LSD. If the deduction is successful, the LSD will be distributed immediately to the users’ Funding Account. Please make sure you have enough KCS in your Trading account; otherwise, your eligibility to purchase in the Spotlight will be lost.

For all lottery winners, we highly recommend depositing at least 20 KCS in your TRADING ACCOUNT during the LSD token distribution period.

To participate in the Spotlight event, please ensure your account meets the following criteria:

1. Complete your KYC verification before 16:00 on July 27, 2024 (UTC). Users who fail to pass their KYC verification will not be eligible for the subscription to the Spotlight event. (Submit your identity verification at least 6-8 hours prior to the closing of the subscription period);
2. The users from the following countries/areas are not supported for the token purchase: Afghanistan, Albania, Australia, Austria, Belarus, Bosnia and Herzegovina, Burundi, Canada, Burkina Faso, Central African Republic, Congo, Cote d'Ivoire, Cuba, Democratic People's Republic of Korea, Ethiopia, France, Guinea, Guinea-Bissau, Haiti, Hong Kong Special Administrative Region, Singapore, Iran, Iraq, Jamaica, Lebanon, Liberia, Lybia, Macedonia, Mali, Malaysia, Myanmar, New Zealand, Nigeria, People's Republic of China, Serbia, Somalia, South Sudan, Sri Lanka, Sudan, Syria, Thailand, Trinidad and Tobago, Tunisia, Uganda, Ukraine, United States of America, including all US territories, United Kingdom, Uzbekistan, Venezuela, Yemen and Zimbabwe;
3. Your purchase agreement must be signed;
4. After completing the steps above, make sure to click the ‘Register’ button on the Spotlight page.

Learn More About Liquidswap (LSD)

Liquidswap, the #1 AMM on Move powered by Pontem Network, dominates Aptos with the highest market share in trading volume and users. Developed by Pontem and backed by top-tier VCs including Lightspeed, Faction, and Pantera, Liquidswap leverages the unique Move language to provide best-in-class performance and speed for peer-to-peer digital asset trading.

Liquidswap (LSD) Project Links:

Website: https://liquidswap.com/#/

Twitter: https://x.com/pontemnetwork

Discord: https://discord.com/invite/44QgPFHYqs

Medium: https://pontem.network/blog

WhitePaper: click to view

Please note:

1. KuCoin reserves the right to disqualify and revoke the tickets for participants who engage in dishonest or abusive activities during this activity. This includes bulk-account registrations to farm additional rewards and any other activity in connection with unlawful, fraudulent, or harmful purposes.

2. All participants must strictly abide by the KuCoin Terms of Use and KuCoin Spotlight Terms of Use.

3. KuCoin reserves the right to the final interpretation of the Spotlight Program.

4. Where any discrepancy arises between the translated and original English versions, the English version shall prevail.

5. This activity is not related to Apple Inc.

Risk Warning: Spotlight is a high-risk investment channel. Investors should be sensible in their participation and be aware of investment risks. KuCoin is not liable for users’ investment gains or losses. The information we provide is for users to conduct their own research. KuCoin reserves the right to the final interpretation of the activity.

Thanks for your support!

The KuCoin Team

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