CROSS exchange distributes a XEX bonus of ~$4.5 million to XEX holders! ! They will also carry out a Buyback and Burning of XEX tokens! !
CROSS exchange, based in Azerbaijan in the Middle East, distributes a XEX bonus totaling ~ $4.5 million to XEX holders on June 3rd. I will tell you the details in this article.
- What is CROSS exchange
- What is the CROSS exchange fund limit?
- What kind of distributions are there specifically with the CROSS exchange fund?
- ① XEX Token Buyback & Burn
- Distribution of XEX Bonus to XEX Holders
What is CROSS exchange
In addition to having transparency by disclosing full trade platform results, transaction data, etc. to users, the company has acquired the first cryptocurrency financial license in the Republic of Azerbaijan and is putting emphasis the exchange’s robustness. It is also recognized by the fact that they employ a mechanism for returning profits to users through fee payouts based on their unique token and “automatic mining” functions not seen on other exchanges.
In addition, CROSS exchange is also involved in the development of a high-security cryptographic asset wallet [X wallet].
What is the CROSS exchange fund limit?
With CROSS exchange, a fee and double the amount worth of XEX token is issued after each trade. At that moment, half of the XEX tokens are returned to the trader, and the other half of the XEX tokens are allocated to the exchange. The exchange’s ownership is 40% of the XEX tokens in the fund.
What kind of distributions are there specifically with the CROSS exchange fund?
It seems that there are two types of distributions in this announcement of CROSS exchange.
① XEX Token Buyback & Burn
CROSS exchange plans to buy back and burn XEX tokens from their fund assets. Burning is used to reduce the total amount of XEX tokens and increase the value per token. In addition, the total amount of XEX tokens will be reduced, which will also affect the distribution rate per coin.
For example, if the amount of revenue is 10 million Yen and a total of 1,000 XEX coins are issued, the amount of revenue per coin is 10,000 Yen; if 10,000 coins are issued, the revenue is 1,000 Yen per coin. The smaller the number of issued coins, the larger the amount of revenue and the greater the revenue distribution per coin.
With the current CROSS exchange fund, as described above, it will be a move to increase the value and revenue distribution per XEX coin.
Burning was conducted on May 31st as planned.
Buyback period: May 1st to the end of May
First time: May 1st buyback of 250,000 USD equivalent in XEX coins
Second time: May 20th, buyback of $500,000 worth of XEX coins
A total of 750,000 USD worth of XEX coins were bought back.
May 30, 2019 6:03:41 UTC
[XEX BURN amount]
Distribution of XEX Bonus to XEX Holders
With CROSS exchange, in addition to buying back and burning XEX tokens from the fund assets, they distributed XEX tokens as bonus to XEX holders. The XEX Holder Bonus is a system for distributing XEX in the fund once a quarter to those who own XEX among CROSS exchange users. They have distributed a total of ~4.5 million USD to XEX token holders. The XEX tokens distributed as a bonus were the funds from the XEX fund.
The first bonus, where a snapshot was taken on May 31st, was reflected in user wallets as of today (6/3) for XEX holders.
Bonus Distribution Date
Monday, June 3, 2019 4:00 UTC
[XEX Holder Bonus Amount]
Fund Assets available: US ~$4,500,000.00
XEX Quantity Distributed: 27,272,727.27 XEX
Formula: Market price as of May 31st, 4:00 UTC
4,500,000USD T ÷ 1.65 (XEX / USDT price at 5/31 4:00 UTC) = 27,272,727.27 XEX
Bonuses will be Distributed Once a Quarter
A bonus for XEX holders like this one is awarded once every quarter. The amount of bonus distribution depends on the evaluation of contributions. ① Automatic Relock-up count ② Automatic Relock-up period ③ Absence of the relock-up cancellation; The amount of bonus distribution is determined by the presence of these factors. In addition, will be distributed from XEX Fund Assets.
The Next XEX Bonus Distribution Date: August 31st
- Proportional allocation of 5% of fund assets to XEX holders (same as the first)
- Return 5% of fund assets to highly contributing XEX holders (from the 2nd distribution onwards)
[Evaluation of Degree of Contributions]
① Number of automatic relock-ups
② Automatic relock-up period
③ Absence of relockup cancellation
The above conditions are evaluated using calculated values, and the individual score is derived from the total score of all the highly contributing users, based on which 5% of the fund asset’s XEX will be allocated.
With CROSS exchange, you can say that it is an exchange that values returns to users. There is also a mechanism that returns up to 80% when you own XEX tokens, and you get the impression that you are doing various campaigns so that the price of the XEX tokens will not decline, thus users are on their toes in terms of following operations. I look forward to CROSS exchange which is on the verge of exploding upwards.