Leading international cryptocurrency exchange KuCoin is launching its 27th Spotlight Token Sale, an initial exchange offering (IEO) showcasing pioneering decentralized digital identification (DID) solutions provider Lifeform (LFT). The exchange announced this development on Thursday via a statement posted on their official website.
Lifeform will be holding a token sale during the next Spotlight event. The sale has a $150,000 USDT hard cap. 3,000 winning lottery tickets will receive 5,000,000 LFT tokens, which is a noteworthy feature of the sale.
KuCoin shall take hourly snapshots of users’ USDT and KCS balances beginning on May 6, 2024, at 10:00 UTC, and continuing until May 12, 2024, at 16:00 UTC. The average Net Asset Value and the quantity of lottery tickets per player will be determined using these snapshots.
Following the conclusion of the calculating period on May 13 at 10:00 UTC, the distribution of tickets for each user will be verified. On May 14, at 10:00 UTC, the lottery winners will be revealed. On May 15, between 8:00 and 11:00 UTC, tokens will be distributed. On the Spotlight page, users can check their eligibility and see their ticket allocations.
In the statement, KuCoin reaffirmed its dedication to enabling the cryptocurrency community with top-notch initiatives like Lifeform in order to consistently expand the reach of the global crypto sector.
For those who are unaware, Lifeform aims to completely transform the digital world by providing seamless and safe decentralized digital identification solutions. Its products include visual DID protocols, tools for creating 3D avatars, and a native Web3 decentralized identification system powered by a metaverse engine SDK.
Launched in 2024, Lifeform’s Universal Domain platform streamlines blockchain domain names with a.btc suffix, thereby advancing the Bitcoin ecosystem. This guarantees trustworthy and safe interactions while streamlining user identification and authentication across several networks. Additionally, it does away with the requirement for repeated identity checks.
May 2024, Cryptoniteuae
