Thank you for always using CROSS exchange.
This is to inform users about the XEX Return Plan "XEX Holder Bonus" (2nd time) for users using the Fund assets.
What is the XEX Holder Bonus System?
It is a system to distribute XEX periodically using the Fund assets for users who own XEX on CROSS exchange. (the first distribution took place on May 31st)
The XEX Holder Bonus is issued once every quarter (every three months). In addition, the return rate for the bonus changes depending on user holding conditions and contributions of XEX.
How much XEX assets from the Fund will be utilized?
As of 7/25, the amount of XEX held by the Fund is approximately $56,787,088 USD (Japanese Yen: approximately 6,164,806,273 Yen). For the August bonus, we will use 10% (approximately 600 million Yen) of the Fund, distributing it to XEX holders.
＜2 Types of XEX Distributions＞
【Distribution targeted persons and distribution contents】
① For all holders with XEX with a lock-up
5% of the Fund's XEX assets will be prorated to users holding "XEX with a lock-up". (same as the 1st bonus distribution)
・Lock-up Period: 90, 60, or 30 days, all applicable
・Unlocked XEX is not applicable
② Only for highly contributing holders
We will return 5% of the Fund's XEX assets to "highly contributing XEX holders". (applicable for the 2nd and subsequent bonus distributions)
※ Certification of highly contributing XEX holders for ② above
This applies to those who have continuously enabled "Automatic Relock-up" between June 1st and the end of August since the last bonus distribution. (anyone who disables this is unfortunately not eligible for distribution)
※ What is Automatic Relock-up?
It is a function to automatically keep locking up your XEX which gets released after a lock-up period ends. By using this function, those who are thinking about long-term asset management with XEX can prevent the loss of gains due to "lock releases".
【Type of XEX to be distributed】
This XEX cannot be sold like the Fund assets because it is a funded asset of XEX. This XEX will qualify for daily distributions.
【Distribution Time and Method】
8/31/2019 4:00 UTC
※ We will take a snapshot at 8/31 4:00 (UTC), and will distribute the funds within 3 days.
＜The Fund's major coins will also be distributed!＞
At the end of August, 5% of the major coins (BTC, ETH, XRP, USDT, etc.) owned by the Fund will be distributed proportionally according to the amount of XEX owned by the user as of the end of August.
【Distribution Targeted Persons】
Users who have continuously enabled "automatic relock-up" from June 1 to the end of August (if you disable (uncheck) it even once, you will be disqualified)
More notices to come!
【August】We will carry out a large-scale buyback using the Fund assets!
The Fund will be used again in August to buyback XEX from the market and we will subsequently burn them.
Why Burn them?
Burning means to reduce a portion of a cryptocurrency’s supply indefinitely. If you burn a coin that has a limited number of quantity such as XEX, the amount of cryptocurrency circulating in the market will decrease, which will increase the scarcity of the cryptocurrency.
Burning provides an advantage for users with long-term intentions of holding XEX, as the value per XEX increases. Also, the market is more likely to perform better and prices tend to rise. (market prices can be highly volatile; this is not financial advice)
Implementation Period: August 1st 〜 August 31st
※ During August, a certain quantity of XEX will be bought back and burned over the month.
【November】CROSS exchange 1 Year Anniversary!! Distribution of a BIG Fund Bonus!!
The 3rd and next November XEX Holder Bonus will be for the 1st Anniversary of CROSS exchange. Therefore, as you can expect much for the XEX Holder Bonus in November, please carefully strategize from now on and going forward.
From 7/28 4:00 UTC to the end of November, only those who continuously enable "Automatic Relock-up" are eligible (no exceptions, even if you have disabled (unchecked) it even once)
＜Major Coin Distribution＞
At the end of November, a few percent of the major coins held by the Fund will be distributed proportionally in accordance with the amount XEX held at the end of November. ※ Major coins are coins that are distributed from the Fund.
Details of the snapshot date, etc. will be announced later.
As described above, XEX Holders can earn a larger XEX Holder Bonus by enabling “Automatic Relock-up” after lock releases.
We will continue to work with the CROSS exchange Fund to provide greater benefits to “users who hold XEX for the long-term”. Please look forward to it.
CROSS exchange Team