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Dear KuCoin Users,
KuCoin will be launching the 19th Spotlight token sale with Gari Network (GARI) on January 16, 2022 (UTC). The GARI token sale will operate using the proportional distribution model.
Click Here if you are not from the following countries (India, Pakistan, Nepal, Bhutan, Sri Lanka, Maldives, Bangladesh)
Spotlight Token Sale Details: (Subscribe Now)
- Token Name: Gari Network (GARI)
- Spotlight Hard Cap: 500,000 USDT
- Spotlight Allocation: 2,500,000 GARI
- Spotlight Token Sale Price: 1 GARI = 0.2 USDT
- Token Supported: KuCoin Token (KCS) Only
- Price Ratio: The actual price ratio of KCS will be announced on the day of the Token Sale
- Token Sale Format: Proportional Distribution Model (PDM)
- Spotlight Token Distribution: 100% will be distributed on the Token Generation Event (TGE)
- Total Token Supply: 1,000,000,000 GARI
- Initial Circulating Supply: 45,800,000 GARI
- Gari Network Website: https://gari.network/
How to Participate
Participants must have an average daily KCS holdings of at least 5 KCS, where their final allocation of the new token is determined by the portion of their average daily KCS holdings against the total average daily KCS holdings by all participating users. To ensure a fair allocation for all participants, there will be a set hard cap for the token allocation per user.
- Token Sale Subscription Start Time: 19:00:00 on January 16, 2022 (UTC)
- Token Sale Subscription End Time: 00:00:00 on January 18, 2022 (UTC)
|Minimum KCS holdings for eligibility||Hard Cap Per User|
|5 KCS||50 USDT (250 GARI)|
*Hard Cap: The max number of tokens you will receive
The Shares of Qualified Users Will Receive (Users must meet the minimum average daily KCS holdings):
(User’s KCS holdings / Total KCS holdings of all participants) * Total Spotlight Allocation (2,500,000 GARI)
Daily KCS Holdings:
From 16:00:00 on January 16, 2022 to 16:00:00 on January 17, 2022 (UTC), KuCoin will be randomly taking a snapshot of each user's KCS holdings on that day (1 snapshot in total). From the snapshot, each user’s daily KCS holdings will be determined. Only users who have an KCS holdings equal or greater than 5 from snapshot and click ‘Participate Now’ during the subscription period will be qualified to the 19th Spotlight.
*Sub-accounts can’t participate in the token sale as an independent account. However, the KCS holdings in the Sub-accounts will be combined into the Master account for the calculation of the Average Daily KCS Balance.
Daily KCS Holding Calculation Rules:
- Main Account * 100%
- Trading Account * 100%
- Pool-X Account (including locked and unlocked assets) * 100%
Ongoing Pool-X staking programs for KCS (locked assets):
Spotlight Token Sale Timeline:
- At 19:00:00 on January 16, 2022 (UTC), KuCoin will launch the Spotlight Token Sale and open the subscription for GARI.
- At 00:00:00 on January 18, 2022 (UTC), KuCoin will end this round of token sale registrations, counting the shares of all successfully registered participants.
- From 08:00:00 to 09:00:00 on January 18, 2022 (UTC), KuCoin will deduct the corresponding amount of KCS in the qualified users’ Trading Account and distribute the corresponding amount of GARI. Please ensure you have at least 15 KCS in your Trading Account on January 18, 2022. If the deduction is successful, the GARI will be distributed immediately to your Main Account; otherwise, your eligibility to purchase in the Spotlight will be lost.
Please note that the amount of GARI shares you will receive is based on your average daily KCS holdings.
To participate in the token sale, your KuCoin account needs to meet the following criteria:
- Complete KYC2 (Advanced Verification) before 00:00:00 on January 18, 2022. If you fail to pass KYC2, then you will not be eligible for the token sale subscription.
- This product is only available for users from India, Pakistan, Nepal, Bhutan, Sri Lanka, Maldives, Bangladesh. Click here if you are not from the following countries (India, Pakistan, Nepal, Bhutan, Sri Lanka, Maldives, Bangladesh)
- Purchase Agreement Signed.
- After completing the steps above, please be sure to click the ‘Participate Now’ button on the Spotlight page.
Note: The above steps can be completed on the Spotlight page before the start time of the Token Sale.
Gari Network (GARI):
The GARI Token introduces to Chingari App users a gateway into the blockchain space. The goal is to empower both creators and viewers on the Chingari App with technological tools to interact directly with each other and allow all users on the Chingari App to participate in the long-term direction of the social economy impacting the GARI Token.
The GARI Token is interconnected with the Chingari App, opening Chingari App users a wider blockchain world where they directly control their assets and can use their tokens to connect and transact with their counterparties, place governance votes, and catalyze platform engagement.
Official Website: https://gari.network/
Join the Community: https://t.me/garitokenofficial
Risk Warning: Spotlight is a high-risk investment channel. Investors should be sensible in their participation and be aware of investment risks. KuCoin is not liable for users’ investment gains or losses. The information we provide is for users to conduct their own research. It is not investment advice. KuCoin reserves the right of final interpretation of the activity.
Thanks for your support!
The KuCoin Team
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The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.