Thank you for always using CROSS exchange.
This is an announcement regarding the "XEX Holder Bonus," one of the XEX return plans for users using the XEX Assets for May.
What is the XEX Holder Bonus System?
It is a system to distribute XEX regularly using the XEX Assets to those who own XEX among users of CROSS exchange.
The first distribution is May 31st.
After that, once every quarter (every three months), XEX holders will receive a bonus. The bonus will be distributed depending on the holding condition and contributions of XEX.
How much of the Fund Assets will be used?
Currently, the Fund XEX Assets is approximately worth $45,000,000. For this distribution we will use 10% of this XEX to return to every XEX holder.
1st Distribution Bonus Contents
For the first time bonus payout on 5/31, it will be limited to a "proportional distribution according to the amount of XEX locked."
As a reason, the details of "conditions of XEX possession, contribution" have not been published thus far. To ensure fairness across the board however, the first bonus payout on 5/31 will become this content.
※ We will distribute XEX by "proportional distribution + contribution evaluation" starting from the 2nd distribution.
5/31 Bonus Distribution Plan
① Distribution Targets
The amount of locked XEX
※ XEX not locked is not applicable
※ Any lock period (90, 60, 30 days) is acceptable
②Distribution amount and contents
Distribute 10% of XEX Assets = approximately $4,500,000 worth of XEX to all users locking up XEX at May 31,2019 4:00(UTC)
The period in which the user has locked up XEX, and all XEX quantity locked is calculated. The calculated numbers distribute XEX and automatically are reflected in the user's wallet.
③ Distribution time and method
May 31, 2019 4:00 (UTC)
※ We will take a snapshot at 4:00 on May 31 (UTC) and distribute within 3 days after that.
④Types of XEX distributed
The bonus XEX is from CROSS fund,so the bonus XEX cannot be sold ,but holders can get the distribution every day.
Plans Beyond the 2nd Bonus Distribution
Second XEX Bonus Distribution Date: August 31st
- Proportional allocation of 5% of the Fund Assets to XEX holders (same as the 1st)
- Return 5% of Fund Assets to highly contributing XEX holders (from the 2nd time onwards)
Evaluation of Overall Contributions
① Amount held with automatic relock-up
② Automatic relock-up period
③ With or without cancelling lock-ups
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 Assets’ XEX is allocated.
By setting up the "Automatic ReLock-up" after unlocking XEX like this, you can receive a larger XEX holder bonus.
From now on, along with the CROSS exchange Fund, we will take measures to return more benefits to “you who hold XEX for the long term”.
CROSS exchange will be developed together with XEX holders. We will continue to work to return more revenue to you.
We look forward to your continued support.
The CROSS exchange Team