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MATR1X(FIRE) Available on Kucoin BurningDrop
MATR1XMATR1X (FIRE) will be available on BurningDrop from 9:00:00 on January 29, 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 FIRE airdrops.
Participation Ways: Web / App
Timeline:
- Subscription Period: 9:00:00 on January 29, 2024 to 18:00:00 on January 29, 2024 (UTC)
- Burning Acceleration Period: 20:00:00 on January 30, 2024 to 02:00:00 on January 31, 2024 (UTC)
- Staking Period: 02:00:00 on January 31, 2024 to 01:59:59 on Febuary 20, 2024 (UTC)
Products Details:
| Staking Product | KCS-FOR-FIRE-20D |
| FIRE Distribution Coefficient | 1 |
| Hard Cap of Whole Platform | 650,000 KCS |
| Hard Cap of Single User | 350 KCS |
Rewards Distribution:
- Total FIRE Allocation: 600,000
- Rewards Distribution: 50% of the FIRE rewards will be distributed before FIRE trading starts in the KuCoin Spot Market. The remaining 50% will be distributed after 1 month from the 1st distribution.
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-FIRE-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 FIRE = (F’ / Overall Final Allocation) * Total AirDrop of FIRE
What is FIRE?
FIRE is the game token of Matr1x Fire, the first episode of the trilogy. FIRE will serve as the major utility token in MATR1X FIRE and is also a crucial asset for players to own and consume in numerous use cases such as avatar upgrades and breeding, blind case opening, Esports involvement, etc.
Website: https://www.matr1x.io
Twitter: https://twitter.com/Matr1xOfficial
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