KuCoin will conduct IEO in lottery format
Cryptocurrency exchange KuCoin this Wednesday announced a change in the order of initial exchange offerings (IEO) on its KuCoin Spotlight platform. The new rules do not apply to the upcoming campaign of the MultiVAC project.
In the course of the next IEOs, KCS holders will participate in a lottery, where the probability of winning will depend on the number of exchange tokens in their accounts during the previous 14 days. KuCoin promises to announce more detailed conditions later.
“By keeping KCS and earning KCS bonuses, you will significantly increase your chances on our next sale,” Michael Gang, CEO of KuCoin, tweeted. “We will launch many new products in the near future”.
In addition, a separate round, where the allocation will take place on a first come, first served basis, will be organized for those who cannot get the allocation in the first stage. Investors who become owners of tokens during the lottery selection will not be able to participate in this round.
Also today, KuCoin set the price of the MultiVAC (MTV) token to KCS, based on the cost of the latter at $ 1.89. Accordingly, 1 MTV is equal to $ 0.006 USD or 0.00317 KCS, and one user can invest up to 1,902 KCS.
Earlier, the conditions for holding lottery IEOs were announced by the Binance exchange.
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