Dear community users:
As stated in Regarding FT’s liquidity, attribution of revenue distribution:
51% of the FTs (which will be referred to as the “community reward” portion) will be reimbursed to the users via our “Trans-Fee Mining” mechanism. The remaining 49% (which will be referred to as the “previously issued” portion) are being held by institutional funds, FCoin Team, FCoin partners and private investors.The “community reward” FT portion will be released on the platform daily via our “Trans-Fee Mining” mechanism. To ensure all users benefit equally from this process, we will first “freeze” the “previously issued” FT portion. Subsequently we will employ the formula below to “unfreeze” this FT portion:
Daily “unfreezed” FT portion = “previously issued” FT portion * previous day’s reimbursed portion / “community reward” FT portion.
In order to further implement the principle of encouraging the holding of FT, we will implement the following LAR (Locked immediately after release) principle for the “previously issued” FT portion as follows:
Within one year from now, all the “previously issued” FT portion will be released on a daily basis, will be locked immediately after release and will not be allowed to enter the secondary market, but they will normally enjoy revenue distribution. At the same time, as Founding Team and FCoin Fund FT Lockout Plan stated, The three-year lockout plan promised by the FCoin Founding Team and FCoin Fund remains unchanged.
July 11, 2018