- KuCoin introduces Mintify (MINT) on its GemPool, allowing users to stake and farm rewards.
- The USDT pool is exclusive to new users who register after March 22 and complete KYC.
- The campaign runs from March 24 to April 1, with bonus rewards for VIP and KCS holders.
Global crypto exchange KuCoin has announced the addition of Mintify (MINT) to its GemPool, allowing users to stake and earn rewards. The campaign kicks off today, March 24, at 14:00 UTC and will run until April 1 at 14:00 UTC. KuCoin also plans to list MINT on its exchange in the near future, with an official announcement expected shortly.
According to the announcement, users can stake USDT, KCS, or MINT in separate pools to farm MINT tokens. A substantial total reward pool of 2,916,667 MINT tokens will be distributed across the various staking options. This reward comes from the total supply of 1 billion MINT tokens.
Exclusive Staking Pools and Rewards
The staking campaign features three pools with different reward distributions. The KCS pool offers the largest reward allocation, with 1,450,000 MINT available from March 24 to March 31.
The MINT pool provides 1,200,000 MINT tokens for staking from March 25 to April 1. The USDT pool is exclusively for new KuCoin users who registered after March 22 at 16:00 UTC and will distribute 266,667 MINT tokens between March 24 and March 31.
Related: KuCoin Lists SIREN After Community Vote Sends Price Soaring
Complete Your KYC and Participate
Per KuCoin, staking requires KYC verification to ensure all participants meet compliance standards.
Users have the option to begin staking their assets before the official reward accumulation period starts; however, rewards will only begin to accrue once the campaign is officially underway.
Bonus Rewards for VIP and KCS Holders
KuCoin is offering additional rewards 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 will earn a 15% bonus, and VIP 8-12 users will receive 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.
How Will My Staking Rewards Be Calculated?
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.
Related: KuCoin Lists RedStone (REDSTONE) for Spot Trading
Users can manually claim their rewards each day, and all unclaimed rewards will be credited to their accounts at the end of the campaign.
About Mintify (MINT)
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.
Notably, 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.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
