Thank you for always using CROSS exchange.
Regarding the distribution plan for users using the Fund assets announced the other day, we would like to apologize and report a change in the "XEX Holder Bonus".
Of the measures taken for the 2nd XEX Holder Bonus,
"Distributing major coins (BTC, ETH, XRP, USDT) etc. from the Fund assets to users who meet certain conditions"
Regarding this part, a user pointed out that the usage of Fund assets is different from the usage of the CROSS exchange User Manual.
As a result from internal discussions, we decided to acknowledge that the explanation to customers was insufficient for the additional measures of the holder bonus (distribution of major coins) and have decided to cancel it.
Therefore, it will be corrected as follows:
Held for August: About the 2nd XEX Holder Bonus from Fund Assets
・The planned 5% of major coins (BTC, ETH, XRP, USDT, etc.) held by the Fund being prorated according to the amount of XEX owned by a user at the end of August ➡︎ Has been cancelled.
＜Deciding Factor＞
The assets provided for the distribution of major coins will be used for the "Fund to buy back XEX from the market", which has already been planned since the beginning of August. The funds will be used to make a large buyback of XEX with a subsequent burn of all the repurchased XEX.
In addition, about the "XEX distribution" already being announced, we will carry this out as planned.
＜Action Item＞
We will distribute 10% of the Fund held XEX assets (US Dollars: approximately $5.5M USD) to XEX holders.
① For all XEX holders with a lock-up (5% of Fund assets)
Prorated distribution to users who own "XEX with a lock-up". (Lock-up period: 90, 60, 30 days, all eligible; XEX without a lock-up is not eligible)
② For holders with a high degree of contribution (5% of Fund assets)
It will be distributed proportionally to "XEX Holders with a high degree of contribution".
※ Certification of highly contributing XEX holders
・This applies to those who have continuously enabled the "Automatic Relock-up" setting between June 1st to the end of August since the previous distribution.
Held for November: About the 3rd XEX Holder Bonus from Fund Assets
There will be no change to the contents of the following announcements for the 3rd November XEX Holder Bonus Program, which will be held for the next go around.
＜About the XEX distribution of Fund assets＞
・We will give preferential treatment to highly contributing XEX holders.
【Distribution Contents】
From July 28th 4:00 UTC to the end of November, we will distribute only to those who have continuously enabled the "Automatic Relock-up" setting. (if you disable (uncheck) it even once, you will be disqualified)
The change is here.
＜About the distribution of major coins＞
Undetermined
In the future, we will look to receive feedback from many XEX holders and will take the time to conduct an adequate hearing. "How can users benefit the most from utilizing the Fund assets?" This will be determined and announced at a later date.
The policy of giving preference to "holders who hold XEX for the long-term" will not change even for November. CROSS exchange has been supported and been able to grow due to users who have been steady in holding XEX and have utilized the “Automatic Relock-up” setting for asset management.
The XEX Holder Bonus to be held in November helps configure asset strategy, and we will consider measures to make many of you look forward to it.
We deeply apologize for changing the contents of the XEX Holder Bonus Project and for the inconvenience this may have caused for users. Thank you for your understanding.
CROSS exchange Team