Dear community users:
I. Introduction of FT1809 warrants (delivered in September 2018)
FCoin will launch the FT1809 Warrants tomorrow, which is specifically:
The FT1809 is a new type of warrant issued by FCoin and is issued and delivered in accordance with the FT exchange rate of 1:1 (for the redemption method, see the second part of this announcement).
Once FT is converted into FT1809, it is locked into the FT1809 warrant account as a collateral, and normally accepts all rights and interests owned by FT such as income distribution and multiplication.
The FT1809 will start the initial issuance on August 10, 2018 (GMT+8, the same below) and open the FT1809/USDT trading pair in the warrants board on August 11, 2018.
The FT1809 will be due for delivery at 0:00 on September 10, 2018, and will return the FT to the FT1809 holders at a 1:1 ratio on the delivery date, and all relevant FT benefits received during the period. (such as dividends and multiplication), also allocated to the FT1809 holders.
II. The "transaction mining" return mechanism adjustment
In order to further encourage FT's long-term holding, and implement the 100% return fee to the established principle of FT, we will adjust the "transaction mining" return FT1808 mechanism to:
From August 10, 2018 to August 25, 2018, the daily return fee per hour will be converted into the FT1809 according to the average price of FT1809 for that hour. The issuance mechanism remains the same, but the newly issued FT will be converted to FT1809 in a 1:1 ratio, see the introduction to FT1809 above) and returned to community users after 24 hours.
The previous FT1808 warrant will still be due to be delivered at 0:00 on August 26, 2018. During the period of intersection of FT1809 and FT1808, FT1808 will not be issued, but still accumulate dividends and multipliers, until FT1808 expires.
1. The existing return algorithm remains unchanged, but the returned variety is changed from FT1808 to FT1809.
2. On August 26, 2018, we will issue FT1809(II) and replace FT1809 to exercise the return of “transaction mining”.
August 9, 2018