KuCoin Launches Staking Campaign for Mintify, Distributing 2.9M MINT Tokens
2min read KuCoin, a prominent global cryptocurrency exchange, has launched a new staking campaign featuring Mintify (MINT) on its GemPool platform. The campaign, which began on March 24 at 14:00 UTC and will conclude on April 1 at 14:00 UTC, allows users to stake USDT, kcs, or mint tokens to earn rewards. A total of 2,916,667 MINT tokens will be distributed across various staking pools, drawing from the total supply of 1 billion MINT tokens.
The staking campaign is divided into three pools, each with its own reward distribution. The KCS pool, which offers the largest reward allocation of 1,450,000 MINT tokens, will be available from March 24 to March 31. The MINT pool will provide 1,200,000 MINT tokens for staking from March 25 to April 1. The USDT pool, exclusively for new users who registered after March 22 at 16:00 UTC, will distribute 266,667 MINT tokens between March 24 and March 31.
Ask Aime: How does KuCoin's launch of a staking campaign for Mintify (MINT)?
To participate in the staking campaign, users must complete KYC verification to ensure compliance with regulatory standards. Staking can begin before the official reward accumulation period, but rewards will only accrue once the campaign is officially underway. KuCoin is also offering additional bonuses to incentivize participation. VIP users can earn extra bonuses based on their account level, with VIP 1-4 users receiving a 10% bonus, VIP 5-7 users earning a 15% bonus, and VIP 8-12 users receiving a 20% boost on their rewards. KCS holders are also eligible for loyalty bonuses, which range from 5% to 20% depending on their KCS staking level. Additionally, users who complete a quiz during the campaign can receive a 10% bonus if they answer all questions correctly.
Rewards are distributed based on the proportion of the user’s staked amount relative to the total staked tokens in the pool. KuCoin will take daily snapshots of users’ balances to calculate rewards, with distribution starting on a T+1 basis. This means the rewards begin accumulating the day after staking starts. Users can manually claim their rewards each day, and all unclaimed rewards will be credited to their accounts at the end of the campaign.
Mintify is a trading platform designed to support real-time, on-chain transactions across multiple networks. It provides users with direct access to decentralized digital asset markets, aiming to enhance trading efficiency and liquidity in blockchain-based economies. KuCoin also announced that participation in the event is restricted in several regions, including the United States, the United Kingdom, Canada (Ontario), China, and Malaysia. KuCoin reserves the right to modify or cancel the campaign at any time.
This staking campaign by KuCoin is a strategic move to attract new users and incentivize existing ones to participate in the staking of MINT tokens. By offering substantial rewards and additional bonuses, KuCoin aims to increase the liquidity and adoption of the MINT token within its ecosystem. The campaign not only benefits users by providing them with an opportunity to earn additional tokens but also supports the growth and development of the Mintify platform. The exclusive USDT pool for new users is a clever tactic to onboard new participants, while the VIP and KCS holder bonuses ensure that loyal users are also rewarded for their continued support. Overall, this initiative underscores KuCoin's commitment to fostering a vibrant and engaged community within the cryptocurrency space.
