Common Wealth(WLTH) Available on Kucoin BurningDrop
Common WealthCommon Wealth (WLTH) will be available on BurningDrop from 9:00:00 on May 23. 2024 (UTC). KCS pool will be opened during the subscription period for all users to subscribe. Additionally, during the Burning Acceleration Period, users who have already subscribed can choose to burn KCS to mine more WLTH airdrops.
Participation Ways: Web / App
Timeline
- Subscription Period: 9:00:00 on May 23. 2024 to 18:00:00 on May 23. 2024 (UTC)
- Burning Acceleration Period: 20:00:00 on May 23. 2024 to 02:00:00 on May 24. 2024 (UTC)
- Staking Period: 02:00:00 on May 24. 2024 to 01:59:59 on June 13. 2024 (UTC)
Rewards Distribution
- Total WLTH Allocation: 1.666.667
- Rewards Distribution: 50% of the WLTH rewards will be distributed before WLTH trading starts in the KuCoin Spot Market. After 1 month, the remaining 50% will be distributed in 25% batches every month.
Calculation Method
1) User's Initial Allocation F = Individual staking amount of the 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-WLTH-20D section. Assume that the price of KCS at the start of the subscription period is $8. Thus, Alice's Initial Allocation will be:
50 * 1 * 8 = 400
2) Accelerating Coefficient by burning KCS, namely V = 0.18452 * arctan (3.000 * ε - 2.08) 0.207166085. wherein ε = Amount of the KCS user burns / F
3) Single User Final Allocation after burning KCS = F'
4) F' = (V 1) F
User Final Rewards of WLTH = (F' / Overall Final Allocation) * Total AirDrop of WLTH
What is Common Wealth?
Common Wealth is an early-stage investment platform democratising venture capital using Web3 technology. It enables retail investors to control their financial future by opening access to 99%, incentivising crowd-sourced wisdom, and promoting better investment and education standards.
With a commitment to integrity and due diligence, Common Wealth ensures trust, reliability, and security. It designs innovative solutions for a more democratic financial system. Combining sound economic principles with Web3. Common Wealth creates a circular protocol, redistributing value to the community. On "All Street," every investor shares proportionally, recognising all contributions and fostering a collective investment experience.
Website: https://joincommonwealth.xyz/
X (Twitter):https://x.com/joincommonwlth?s=11
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