Yesterday I bought myself (another) 75 KuCoin Shares (KCS).
Yes, I know that my previous post was all about the KuCoin Exchange (The Best Crypto Exchange just got Even Better! (Again)). I apologise for the lack of variety, but this is important and time is of the essence! Similarly, I can’t just write another “Shopping Cart” post and risk you missing this important buy!
I bought those 75 KuCoin Shares (trading STEEM and Ethereum for them) in order to be able to take part in the latest KuCoin programme. Of course they only released this information after my last post – Murphy’s Law at work once again!
So what is the latest KuCoin programme (as if they haven’t already launched enough new initiatives this month already!)?
This is it:
Of course, if you follow me on Twitter, then you probably already know this:
If you have a Twitter account and you don’t want to follow me… then, well, I guess I’m sorry – I don’t know how to cure “stupid”.
What is the KuCoin Lockup Plan?
The lockup plan is a three-month lockup of KuCoin Shares on the KuCoin exchange. In other words, it’s a staking contract. The more you stake, the more you can earn. Importantly, the sooner you stake, the more you can earn too. And that’s where it gets impressive:
Recently I staked my WAX coins on their new native (EOS-cloned) blockchain. Returns on that contract amount to 100% over a period of 3 years, which I think is very good! But the KuCoin figures are even better: returns are far higher, working out to a rate which equates to an estimated annual ROI of 50%. Over the three-month period of their staking contract, that works out to just over a 10% return. Not bad for three months, especially with no work involved! That is, quiet simply, the best staking contract I know of in crypto. By far. Yeah you could also get those sort of returns by running the right crypto masternode, but that would probably be considerably more risky – and possibly a lot more expensive.
To get into the KuCoin Staking contract you will need a minimum of 200 KCS. The news of this opportunity caused a price rise in KCS, the tokens have gone up from around $1.30 each to around $1.60. Thus (at time of writing) it will cost you a minimum of $320 to get into the programme – which isn’t cheap, but I consider it to be well worth it if you have the money available! There is a good chance that prices may drop after the staking contract closes, but I really don’t care: KCS is a long-term hold and will no doubt shoot up in price as the platform gets busier (As it has before – to an ATH of $20.17).
Set your alarms:
The lockup plan works as follows: it runs for the month of August, but those who lockup first stand to score the most. Estimated returns start at an annual rate of 50%, but then drop off by 0.5% every day thereafter, so you want to lockup on day one! The staking contract opens on 1 August (I assume directly after midnight) and the time zone used for that is UTC +8. In other words, the contract opens at 16:00 UTC on 31 July, at least I think it does.
For the whales out there, there is a maximum daily lockup amount of 10000 KCS. There is another limit that applies to everyone: a maximum of 500 000 KCS can be locked per day, so don’t wait too long! If you do miss day one or two, it isn’t the end of the world, 49% annual ROI on day three is still pretty darn fantastic! Even if you lockup on the final day of the month, the annual ROI rate will still be 35%, which still beats practically any other staking contract! The entire lockup programme will stop if and when 5 000 000 KCS is locked. This could happen in as little as 10 days, or it may not happen at all. Here is an added bonus: however much is locked up in the programme (in total), that same amount of KCS will be burnt in December 2019. KuCoin are burning KCS like wildfire at the moment (check my previous KuCoin post), a trend which seems to be continuing. This is great for KCS holders, especially when they are getting more KCS for free! If 5 000 000 KCS is burnt, that will mean that the total amount of KCS in existence drops by 2.8%! If you prefer to work with circulating amount (which I do not advise), then that percentage rises to 5.6%! Remember: you can always check out the latest information about KCS specifically at the KCS dashboard at https://kcs.kucoin.com
You don’t have much to lose
For those who fear that KCS price will drop radically during the three-month staking period, take heart: you can cap your USD losses at 10%. This is because KuCoin have built a safety net into the system: they have a guaranteed service that works like this (in their own words):
After the KCS unlocks, KuCoin provides a service for repurchasing the user’s locked KCS at the price of 10% off the average KCS price (USDT price) on the day of the user’s lockup
What this allows you to do is to turn your recently unlocked KCS into USDT a price of 10% less than what it was worth during the lockup period. The programme is thus not only a good way to buildup your crypto holdings, but also a way to hedge against drops in the market! This offer expires 24 hours after unlocking and is only valid as long as you have not traded or moved your KCS.
On the downside, tokens locked into the new programme do not earn the usual daily staking rewards that KuCoin offers to KCS holders. However, those rewards are FAR less than what you stand to gain by participating.
I fully intend to lock up my KCS for this period, and I will do so as soon as I can. For those who don’t hold KCS, I think that the rise in the token price has been minimal and that it is still well worth your time to participate. I truly believe that KCS is an excellent token to hold and that it is greatly undervalued. I also firmly believe that KuCoin is a fantastic exchange. I’ve been using it for nearly two years now and I am 100% happy with it, in fact it often exceeds my expectations!
Following hot on the heels of “Soft Staking”, KuCoin is obviously focusing on staking lately and their offerings in this regard are extremely impressive. I hope they continue in this vein, if they do it should win them many new customers. I do not know what will happen after the three month lockup period ends, I know that your staked KCS will be returned to you, but I don’t know if another programme will follow thereafter, I hope it does! Perhaps it will become an annual event, who knows? At this stage information is still limited. Read the latest of KuCoin’s own articles about the the lockup here: “KuCoin Will Launch The KCS Lockup & Cash Back Program and Burn Plan”
If you are not a KuCoin user yet, please consider clicking my “KuCoin” banner in my signature and signing up wit my referral link. I get tiny amounts of some of your transaction fees if you do, for which I would be most grateful. While you are at it… remember that Nash goes live next month!
Nash and its NEX token should become big names in the world of crypto exchanges. After its launch, I see Nash being the best DEX by far, even better than Binance DEX. Initially trading pairs will be limited, but that will change with time. The highly advanced Nash platform and the myriad added features should make it extremely attractive to investors and crypto traders alike. I have built up a relatively big stack of NEX which I am hoarding jealously. I strongly recommend that you look into NEX if you have not already done so.
In the meantime, why not sign up so long? Once again, I have a referral link in my signature. You HAVE to use a referral link to sign up – there is no option to sign up without one. This is designed into the system to help spread the word. The referral link gives you entry into a competition: you can win BTC and NEX by signing up. The lucky draw is at the end of the year, and the more people you refer with your own code (that you will get after signing up), the more entries you get into the competition. I have never been this excited about the launch of an exchange before!
Yours in great crypto exchanges
Yours in crypto
“The secret to success: find out where people are going and get there first”
~ Mark Twain
“Crypto does not require institutional investment to succeed; institutions require crypto investments to remain successful”
~ Bit Brain