Dear Biconomy users,
Biconomy has updated the statistical logic for USDT positions in the Kickstarter events, and the revised position rules will be implemented starting October 10, 2023. Below is the explanation for the revised Kickstarter position rules:
1. Event Participation Criteria
Users must ensure a minimum position of at least 300 USDT in spot accounts for 15 consecutive days by 09:59 (UTC) of the day before the commitment stage starts. (Every 24-hour period is counted as one day.)
Note:
- If your USDT position snapshot on any day during the 15 consecutive days is below 300 USDT, you might lose your eligibility to participate in Kickstarter.
- The USDT assets locked for Launchpad or Kickstarter participation will not affect your USDT position snapshot.
2. Event Commitment
- All eligible users can commit using USDT during the commitment stage. For Kickstarter, the minimum commitment quantity is 300 USDT, and the maximum commitment quantity is 30,000 USDT.
- The final committable quantity will be calculated based on the minimum USDT position in the user's spot account during the 15 consecutive days.
- After committing successfully, the USDT will be temporarily locked until the settlement of airdrops is completed. The USDT committed cannot be transferred, traded, etc during this period.
3. Reward Calculation
The valid committed quantity is calculated based on the tier system for revised Kickstarter events. Once your actual committed quantity meets the minimum commitment quantity requirement of the corresponding tier, you can calculate your valid committed quantity based on the commitment coefficient of the corresponding tier. The larger the proportion of your valid committed quantity, the higher the rewards. The coefficients by tier are as follows:
| Committed Quantity | Commitment Coefficient |
| 300 ≤ X < 900 | 1 |
| 900 ≤ X < 1,500 | 1.05 |
| 1,500 ≤ X < 3,000 | 1.1 |
| 3,000 ≤ X < 6,000 | 1.15 |
| 6,000 ≤ X < 15,000 | 1.2 |
| 15,000 ≤ X < 21,000 | 1.25 |
| 21,000 ≤ X < 30,000 | 1.3 |
User's reward = User's valid committed quantity / All users' total committed quantity * Total prize pool,
where User's valid committed quantity = User's actual committed quantity * Commitment coefficient of corresponding tier.
E.g. User A makes an actual commitment of 6,000 USDT in a Kickstarter event, and the user's commitment coefficient is 1.1. The total valid commitment quantity of all users in this event is 1,000,000 USDT. Therefore, the calculation of User A's reward is: (6,000 * 1.1) / 1,000,000 * Total prize pool
4. Reward Allocation
We will airdrop the corresponding airdrop rewards to the spot accounts of participating users according to the event rules within 2 hour after the end of the event.