Thank you for always using CROSS exchange.
The TOB that began on October 17th has improved the conditions for participation, reflecting the opinions of users. As a result, customers can participate in the TOB under more favorable conditions.
《TOB Revised Points》
① When total applications exceed the purchase funds for the TOB, the XEX that could not be bought and will be proportionally allocated and returned to participants will now be returned as unlocked XEX instead of 90-day locked XEX.
② A 30% bonus will be added to XEX that is returned to users without being purchased from the TOB on a proportionally allocated basis as '90 day locked XEX' instead of permanent locked XEX.
③ XEX (free XEX that was principal amount and the XEX bonus with a 90 day lock) that is proportionally allocated and returned without being purchased in the TOB will be divided into installments over 30 days instead of being returned all at once. It will be returned to user wallets. After the TOB application period ends, the first day of returns will begin within one week.
Why are we returning your XEX in a 30 day installment?
A large concentration of XEX unlocking in one day can adversely affect the future XEX market price, thus we are taking precautionary measures to make it easier to maintain a healthy market by returning your XEX over 30 days.
■ About the TOB Quantity
For this TOB, if the total application quantity exceeds the purchase fund amount ($1,000,000), determination by proportional allocation based on the number of applications and the amount of TOB purchases applied for will be made.
■ The XEX conditions for excess application are now advantageous!
According to the above specifications, the portion of your XEX quantity that could not be purchased at TOB (your principal amount) will be returned to the customer's wallet as “XEX with a 90-day lock” with an additional 30% bonus. XEX was originally planned to be distributed with as "permanently locked XEX".
＜Previous Specification Diagram＞
Example: Application quantity: Among 10,000 XEX, TOB purchase quantity is 7,000 XEX
・Principal Amount: 3,000 XEX → returned as 90 day locked XEX
・XEX Bonus: 900 XEX → gifted as infinite locked XEX
However, with this revision the status of the returned XEX has changed significantly!
From your applied XEX quantity, the amount not purchased in the TOB (from your principal amount) will be returned to your wallet as “Free XEX” (unlocked) and the additional 30% bonus will be distributed as “90-day locked XEX”.
＜New Specification Diagram＞
Example: Application quantity: Among 10,000 XEX, TOB purchase quantity is 7,000 XEX
・Principal Amount: 3,000 XEX → returned as Free XEX
・XEX Bonus: 900 XEX → gifted as 90 day locked XEX
＜Point of Caution＞
Returned XEX has become more favorable for customers with this revised improvement, but instead of returning all XEX to customers at once, please be advised that it will be returned in daily installments of 1/30th to your Wallet over 30 days.
There are no changes to other specifications.
At CROSS exchange, we are constantly striving to create an environment where everyone can enjoy easy trading, reflecting the voice of users.
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CROSS exchange Team