- KuCoin launches its 27th IEO featuring Lifeform (LFT), a project focused on decentralized digital identity solutions.
- The token sale has a $150K USDT hard cap, offering 5M LFT tokens distributed among 3,000 lottery tickets.
- Participation runs from May 6 to May 12; winners will be announced on May 14, and tokens will be distributed on May 15.
Prominent global crypto exchange KuCoin is rolling out its 27th Spotlight Token Sale, an initial exchange offering (IEO) that showcases Lifeform (LFT), an innovator in decentralized digital identity (DID) solutions. The exchange communicated this development in a statement on Thursday via its official website.
The upcoming Spotlight event will include Lifeform’s token sale, which has a hard cap of $150,000 USDT. Notably, the sale will offer 5,000,000 LFT tokens, which will be distributed among 3,000 winning lottery tickets.
Starting on May 6, at 10:00 UTC and running until May 12, 2024, at 16:00 UTC, KuCoin will capture hourly snapshots of users’ USDT and KCS balances. These snapshots will be used to calculate the average Net Asset Value, determining the number of lottery tickets each participant can receive.
The allocation of tickets for each user will be confirmed after the calculation period ends on May 13, at 10:00 UTC. The lottery winners will be announced on May 14, at 10:00 UTC, and token distribution will take place between 08:00 and 11:00 UTC on May 15. Users can verify their eligibility and view their ticket allocations on the Spotlight page.
In the announcement, KuCoin reiterated its commitment to empowering the crypto community with high-quality projects like Lifeform to continuously advance the global crypto industry’s reach.
For the uninitiated, Lifeform seeks to revolutionize the digital landscape by offering secure and seamless decentralized digital identity solutions. Its offerings include 3D avatar creation tools, visual DID protocols, and a native Web3 decentralized identity system supported by a metaverse engine SDK.
Lifeform’s Universal Domain platform launched in 2024 to advance the Bitcoin ecosystem by simplifying blockchain domain names with .btc suffix. This simplifies user identification and authentication across various networks while ensuring secure and reliable interactions. It also eliminates the need for repetitive identity verifications.
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