The cryptocurrency exchange KuCoin has announced the token sale of the Lifeform (LFT) project on its Spotlight platform. This was reported in the trading platform’s blog.
The Lifeform team is developing a digital identification solution that includes tools for creating 3D avatars and a decentralized Web3 verification system.
KuCoin will conduct the sale of 5 million LFT. These will be distributed among holders of 3000 winning lottery tickets at a price of 0.03 USDT each.
To participate, one must:
- subscribe to the Lifeform token sale from May 6 to May 12, 2024, on the Spotlight page;
- hold assets worth at least $50 in Tether (USDT) and KuCoin Token (KCS) in their balance.
The average value of tokens will determine the number of lottery tickets a user receives.
The lottery will take place on May 13. The exchange will announce the results on May 14 and distribute the tokens on May 15.
KuCoin will deduct the amount from the winners’ trading accounts and allocate the corresponding number of LFT.
“We strongly recommend all lottery winners to deposit at least 10 KCS into their trading account during the LFT distribution period,” the exchange’s blog states.
KuCoin is a cryptocurrency exchange that has been operating since 2017, serving over 31 million users. The platform supports more than 800 crypto assets across spot, margin, futures, and P2P markets.
Earlier, experts refuted the presence of a high-risk label on transactions with KuCoin.