Dear Community Members,
The purpose of the FT long-term holders win-win plan is, protect FT long-term holders from loss of principal denominated in USDT when FT price goes below 0.12USD benchmark price, and before the FT circulation reached 10 billion.
Since the FT warrant series (including FT1808, FT1810_I, FT1908) are all 1:1 ratio long-term FT, holders of all FT warrant series also enjoy the opportunity to participate FT long-term holder win-win plan. Details are as following:
The first snapshot of FT warrant win-win plan all be set as the half time of the warrant duration, and will be announced ahead of the snapshot time. Details for FT1808 is:
1.The first snapshot time for FT1808 is 12:00pm, August 11, 2018 (GMT+8)
2.The FT1808 holding of each community member will become the benchmark holding quantity. Community member will lose win-win plan qualification if FT1808 holding quantity is lower than the benchmark during subsequent hourly snapshot
3.The benchmark holding quantity is the effective quantity to participate the win-win plan, please see formula below:
FT1908 dynamic compensation (for FT1808) = (FT win-win plan benchmark price - FT/USDT average price during the day) / FT/USDT average price during the day * FT1808 benchmark quantity of the community member
FT1908 dynamic compensation amount only changes baed on FT/USDT price change (up or down) and issued from time to time, triggered by one of the following conditions:
a) The result of total amount of FT1908 dynamic compensation (contains same amount of FT）+ current FT in circulation, reaches 10 billion ceiling. This will be calculated by the system daily.
b) Periodically open FT community voting to decide on issuance. Details please see future announcement.
4.Before win-win plan triggering point and after the delivery date of FT1808 (including 1:1 FT delivery and other dividends, if community member's benchmark holding quantity is still valid, it will be processed under such rules:
a) If community member's FT benchmark quantity is still valid, then the FT1808 benchmark quantity will be added together and form combined new FT benchmark quantity
b) If community member's FT benchmark quantity is invalid, the FT1808 benchmark quantity will become new FT benchmark quantity
The understanding and best practice for win-win plan (part 1 and part 2):
1.For existing FT holders will enjoy the win-win plan benefit as long as holding up the FTs (not to reduce the FT holding) after the first snapshot
2.For existing FT1808 holders will enjoy the win-win plan benefit as long as holding up the FT1808s (not to reduce the FT1808 holding) after the first snapshot
3.For community members that missed the first FT snapshot, we recommend increase FT1808 holding which is due for the first snapshot soon in order to enjoy the win-win plan benefit
4.When FT price is below 0.12USD, the best practice is to:
(1) Maintain and not reduce the holding level of FT and FT warrants. It will allow community members to receive extra dividends and avoid USDT denominated asset loss
(2) If community member wants to increase win-win plan benefit after the first FT snapshot, the suggestion is to increase the FT warrant holding before the corresponding snapshot to reach the purpose of FT benchmark holding increase.
5.The above practice is valid before FT reaches 10 billion circulation.
August 9, 2018