$CPOOL Available on KuCoin BurningDrop

Published in

Clearpool

3 min readOct 25, 2021

Clearpool (CPOOL) will be available on BurningDrop from 10:00:00 on October 26, 2021 (UTC).

Users can mine CPOOL by staking USDT/KCS/ETH assets. During the Burning Acceleration Period, users who have already staked can enjoy more CPOOL rewards by burning POL. (All times for this announcement refer to the UTC time zone).

Participation Ways: Web / App

Kucoin Trading Link

https://trade.kucoin.com/CPOOL-USDT
USDT Trading

Products Details:

Timeline and Rules: (Go to BurningDrop)

Subscription Period: 2021/10/26 10:00:00–2021/10/26 22:00:00
Burning Acceleration Period: 2021/10/27 02:00:00–2021/10/27 14:00:00
Staking Period: 2021/10/27 16:00:00–2021/11/16 15:59:59
Issue Price: 1 CPOOL = 0.04 USDT *Total Amount of CPOOL: 2,500,000
Rewards Distribution: 40% of the CPOOL rewards will be distributed before CPOOL trading starts in the KuCoin Spot Market. The remaining 60% will be distributed after 1 month from the 1st distribution.

Calculation Method:

1) User’s Initial Allocation F = ∑(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 50 KCS in the KCS-FOR-CPOOL-20D section and 0.1 ETH in the ETH-FOR-CPOOL-20D section. Assume that the price of KCS at the start of the Subscription Period is 13 USDT, and the price of ETH at the start of the Subscription Period is 3,400 USDT. Thus, Alice’s Initial Allocation will be:

50 * 1.5 * 13 + 0.1 * 1.2 * 3,400 =1,383

2) Accelerating Coefficient by burning POL, namely V = 0.18452 * arctan (60 * ε — 2.08) + 0.207166085, wherein ε = Amount of the POL user burns / F

3) Single User Final Allocation after burning POL = F’

4) F’ = (V+1) F User Final Allocation of CPOOL = (F’/ Overall Final Allocation) * Total Amount of CPOOL

Notes:

1. As the number of burned POL increases, the rewards of each POL burning may gradually decrease. Users can enter the number of burned POL on the burning page to test the available acceleration computing power. Please burn rationally.

2. Users need to be registered on KuCoin to join this BurningDrop activity.

3. Users confirm that participating in this activity is voluntary, and the KuCoin Group has not forced, interfered with, or influenced the user’s decision in any way.

Risk Warning: Cryptocurrency investment is high risk. It is carried out 24/7 without closing. Please pay attention to investment risks before taking part. KuCoin has a strict review process for online projects but will not assume any compensation or other responsibilities for investment behaviors. Please be aware of related risks and be cautious when investing.

About KuCoin

Launched in September 2017, KuCoin is a global cryptocurrency exchange for over 400 digital assets. It currently provides Spot trading, Margin trading, P2P fiat trading, Futures trading, Staking, and Lending to its 8 million users in 207 countries and regions around the world. In 2018, KuCoin secured $20 million in Round A funding from IDG Capital and Matrix Partners. According to CoinMarketCap, KuCoin is currently the fifth biggest crypto exchange. In 2021, Forbes named KuCoin as one of the Best Crypto Exchanges for 2021.

About Clearpool

Clearpool is a decentralized capital markets ecosystem where institutional borrowers can access unsecured liquidity and where liquidity providers can earn attractive risk-adjusted returns.

The first decentralized dynamic marketplace for unsecured liquidity, where supply and demand always ensure each pool reaches a state of equilibrium in terms of size and interest rate.

A paradigm shift in how institutions borrow uncollateralized liquidity is upon us.