Partaking in my first "Kucoin Burning Drop"

I just took part in my first Burning Drop on Kucoin. If you have never heard of it, I would compare it to a Launchpool which you can see on exchanges such as Binance and ByBit. You need to stake a certain coin (at Kucoin it is KCS), and then you will be rewarded for it.

During the current Burning Drop, you had to commit your KCS for 20 days, and in return, you will receive the $HIP token as a reward. You don't pay anything to be a part, and thus, it reminds me very much of a normal launchpool on exchanges like ByBit and Binance.

There is however, a slight difference. At Kucoin, you can decide to burn KCS tokens in addition to get a boost which will give you more rewards than the others. During my first attempt which was now I burned 0.7KCS and that gave me a boost, which means I received more HIP tokens per KCS submitted than the others. Well, I guess someone burned more KCS than me, but I had a better boost than 85% of the other participants.

So, that was it. I am glad I have tried it, and it gave me a nice quick profit as I sold my tokens immediately (the first batch I received), which means I have already gotten my burned KCS in return, plus some more. Then there are more tokens that I will receive in the future, so I will not lose any money on this project (at least).

You can read more about how the Burning Drop works in the following guide: https://www.ipaddressguide.org/what-is-burning-drop-on-kucoin-how-does-it-work/

You can also visit the Kucoin website and register a user so you can take part in future similar projects.

You can read more about the HIP Burning Drop here: https://www.kucoin.com/announcement/en-gameta-hip-is-available-on-burningdrop