KCS lockup program

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Hello,

On 2019-8-1 I locked my KCS. On 2019-10-30 (5 days from now) I should get back the Principal + 50% annualized as it was stated ([https://www.kucoin.com/news/en-kucoin-will-launch-the-kcs-lockup-cash-back-program-and-burn-plan](https://www.kucoin.com/news/en-kucoin-will-launch-the-kcs-lockup-cash-back-program-and-burn-plan)).

Now, on 2019-10-30 will I just simply receive the KCS in my main / trading account? Should I do something else? Do I have to apply for repurchasing them to get USDT?

I also noticed there’s a 2nd round KCS lockup program.. available for the ones that already locked in the 1st round (but somewhere in an email I received it says: *KuCoin will launch the 2nd round of KCS Lockup and Cash Back Plan! Lockup users of the first round can get an extra 20% annualized return besides the base return rate of 30%, up to 50% annualized return in total. Detail rules are as following:*) . Why would you say the base return rate is 30% if it was 50% initially if you deposited on the first day (2019-8-1) ?

Thanks I hope this makes some sense.

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Posted in Kucoin Reddit and tagged News

2 Comments

kucoin_mod on 28. October 2019 at 1:53

The locked up KCS will be returned back to your account automatically after the 90-day lockup period along with the lockup revenue and you don’t have to do anything to receive it. If you want to apply for the Guaranteed service, you only need to do is once your locked KCS has been unlocked you need to transfer the unlocked principal to BUYBACKKCS address before 24 o’clock on the day of unlocking and we will calculate and issue USDT within 3 working days. As for the email you’ve received, it is an offer for all users who have locked on the first round if they want to continue locking their KCS for the second round, they will get up to 50% annualized rate for second round instead of 30%, basically the catch here is that users of the first round will be able to avail up to 50% annualized rate for the second round if they choose to continue lockup their KCS along with the revenue from the first round.

helleraizer on 28. October 2019 at 1:53

This 2nd round is available to anyone at 30% but if you have some in lockup and want to continue the lockup, they will give you an extra 20% for a total of 50% annualized.

The way I read the buyback was that before midnight KuCoin local time on the day you get unlocked you have to transfer your lockup principal to the buyback address and wait a few days for the usdt.

kucoin_mod on 28. October 2019 at 1:53

The locked up KCS will be returned back to your account automatically after the 90-day lockup period along with the lockup revenue and you don’t have to do anything to receive it. If you want to apply for the Guaranteed service, you only need to do is once your locked KCS has been unlocked you need to transfer the unlocked principal to BUYBACKKCS address before 24 o’clock on the day of unlocking and we will calculate and issue USDT within 3 working days. As for the email you’ve received, it is an offer for all users who have locked on the first round if they want to continue locking their KCS for the second round, they will get up to 50% annualized rate for second round instead of 30%, basically the catch here is that users of the first round will be able to avail up to 50% annualized rate for the second round if they choose to continue lockup their KCS along with the revenue from the first round.
helleraizer on 28. October 2019 at 1:53

This 2nd round is available to anyone at 30% but if you have some in lockup and want to continue the lockup, they will give you an extra 20% for a total of 50% annualized.

The way I read the buyback was that before midnight KuCoin local time on the day you get unlocked you have to transfer your lockup principal to the buyback address and wait a few days for the usdt.