Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
We are honored to introduce our 22nd project on KuCoin Fractional NFTs - hiRENGA. The subscription to this exclusive NFT event will start at 09:00:00 on February 2, 2023 (UTC). The hiRENGA token sale will operate using a new rule, with 2 rounds of subscriptions!
The 22nd project of the Fractional NFTs Platform will be featured in the RENGA collectibles. hiRENGA is an ERC-20 token representing 1/1,000,000 ownership of a RENGA in the Meta-Swap pool of Fracton Protocol.
Subscription Period: 09:00:00 on February 2, 2023 - 11:00:00 on February 2, 2023 (UTC)
Fractionalized Fungible Token Sale Details:
- 1 RENGA = 1,000,000 hiRENGA
- Initial Total Supply: 21,000,000 hiRENGA (4,000,000 hiRENGA will be allocated as free rewards)
- Total Subscription Amount: 17,000,000 hiRENGA
- Token Sale Price: 1 hiRENGA =0.0025 USDT
- Token Type: ERC-20
- Token Sale Format: Whitelisting
- Trading Pair: hiRENGA/USDT
Token Sale Timeline:
Users who meet the whitelisting requirement will be able to purchase hiRENGA by issuing a price (0.0025 USDT) on KuCoin with just one click. To ensure a fair allocation for all participants, there will be a set hard cap for the token subscription per user.
- First Round: 09:00 - 09:15 on February 2, 2023 (UTC)
- Second Round: 10:00 - 11:00 on February 2, 2023 (UTC)
|Requirement for Whitelisting||Available||Individual Hard Cap|
|First Round (Sold Out)||Have an average FT holding amount of ≥ 1,400||11,000,000||16,000 hiRENGA|
|Second Round (Subscribe Now)||Have an average FT holding amount of ≥ 500||6,000,000||4,600 hiRENGA|
FT Holdings Calculation Rules:
From 12:00:00 on January 31, 2023 to 00:00:00 on February 2, 2023 (UTC), KuCoin will randomly take 2 snapshots of each user's FT holdings. (FT average holding amount = Total holding amount of 2 snapshots / 2)
*During the period, KuCoin will undergo rigorous inspection during the activity, and the platform reserves the right to cancel the qualification of the participants.
Why Choose Fractionalized Fungible Tokens?
- Low Investment Barrier: The super rare blue-chip NFTs will become very easy to obtain after it is split, allowing everyone to participate in this one of the most popular investments at the moment.
- Centralized Experience: Without a complicated on-chain process, users can directly purchase these Fractional NFTs using the balance in their trading account.
- Trading on KuCoin Marketplace: Fractionalized fungible token. The RENGA issued on KuCoin will be tradable on spot trading after the token sale and will have world-class liquidity in multiple trading pairs.
About Fracton Protocol
Fracton Protocol is an NFT liquidity infrastructure with a two-step fractionalization (ERC721-ERC1155-ERC20), and it provides permissionless liquidity and oracle for all kinds of NFTs. Based on a deeply reformed ERC1155 middle layer standard, Fracton is building a non-status smart contract system to increase the protocol’s efficiency, lower gas fees, and maximize asset security. To know more about Fracton Protocol, click here.
- The deposits and withdrawals will be supported for all fractionalized fungible tokens (FFT).
- The remaining subscription amount on Round 1 will be added to Round 2.
- Users who successfully participated (purchased) in the Round 1 of the token sale can’t participate in the Round 2.
- The total sale will be conducted in the flash sale format, and the total initial supply is limited; please ensure a sufficient balance in your Trading account.
- The FFTs which have been purchased are not non-refundable. Users will be able to trade their FFTs in the Spot market.
- The user hereby confirms that participation in the activity is voluntary, and KuCoin Group has not forced, interfered with, or influenced the user's decision in any form.
Risk Warning: Investing in cryptocurrency and NFT assets is akin to being a venture capital investor. The cryptocurrency market is available worldwide 24 x 7 for trading with no market closing or open times. Please do your own risk assessment when deciding how to invest in cryptocurrency and blockchain technology. KuCoin attempts to screen all tokens — The RENGA before they come to market; however, even with the best due diligence, there are still risks when investing. KuCoin is not liable for investment gains or losses.
The KuCoin Team
Find the Next Crypto Gem On KuCoin!
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.