KuCoin GemPool allows you to stake your cryptocurrencies to receive token airdrops. By staking KCS, USDT or additional tokens you can obtain new tokens at no additional cost.
What Are Airdrops?
Cryptocurrency airdrops have become a popular phenomenon in the blockchain ecosystem. If you've heard the term but aren't quite sure what it means or how to participate, this guide will walk you through everything you need to know.
An airdrop is a distribution of cryptocurrency tokens or coins sent directly to wallet addresses, usually free of charge. Think of it as receiving a surprise gift of digital assets in your cryptocurrency wallet.
Types of Airdrops
There are several common types of airdrops you might encounter:
Standard Airdrops
Simple distributions where tokens are sent to wallet addresses that meet basic criteria, such as holding a minimum amount of a specific cryptocurrency.
Bounty Airdrops
Tokens awarded for completing specific tasks like:
• Following social media accounts
• Joining Telegram groups
• Creating content about the project
• Finding bugs in the software
Holder Airdrops
Tokens distributed to existing holders of a specific cryptocurrency. For example, all Bitcoin holders might receive a new token based on their BTC balance at a specified block height.
Governance Airdrops
Tokens given to participants who have actively contributed to a protocol's governance decisions. Retroactive Airdrops Tokens distributed to users who have previously interacted with a protocol or platform before the token was created
How to Participate in GemPool (Kucoin)
During the event period, you can stake your KCS, USDT, or other tokens listed on the GemPool page. If eligible, the airdropped token rewards will be deposited into your trading account after the staking period ends. You can also collect the accumulated airdropped rewards as shown on the events page.
i. Staking on GemPool
Look for ongoing staking activities on the New Events page, select your desired cryptocurrency, and click Stake.
ii. Redeeming tokens that have been staked
Click on an ongoing staking activity, then click Redeem.
iii. How to receive staking bonuses
Click on "Complete exclusive tasks to receive a staking bonus", during the event, and easily earn up to a 10% bonus.
FAQs
Can any account balance on KuCoin be used to participate in GemPool staking?
You may use the available balance in your Trading Account to participate in GemPool staking activities. If you wish to use the balance in your Funding Account, you may also transfer from it directly to your Trading Account, without having to leave the staking page.
How do I claim rewards, and where can I view the rewards I’ve gotten?
Different tokens and products may have different rules for staking and redemptions. You may choose between flexible or fixed terms. Please note that rewards will no longer be calculated once redemption is done. The tokens will then be returned to your Trading Account within 1-2 hours once you choose to redeem them.
You may claim your rewards earned from staking tokens after the scheduled distribution time each day. Any unclaimed rewards will be deposited into your Trading Account automatically, about 1-2 hours after the staking period ends.
How are the rewards from staking tokens calculated?
Rewards from staking tokens = Your Staked Amount / Total Staked Amount of the Pool * Amount of Token Rewards for the Pool
Note: The maximum reward each person can receive is capped. This limit, known as the individual hard cap in the pool, is detailed on the event announcement page.
How can I earn more rewards?
You can boost your rewards by increasing your VIP level, or by participating in quizzes about new tokens and projects. Stay tuned for more!