Dear community users:
According to the result of Result Publicity on the referendum of FCoin Sustainable Mining and Income Distribution Adjustment, the implementation plan for FCoin Sustainable Mining and Revenue Distribution Adjustment is as follows:
Sustainable Mining Implementation Plan:
Sustainable Mining Principles:
1. All FT that are returned by sustainable mining will be locked for 1 year and automatically unlocked after 1 year (calculated from the date of distribution). These FT will enjoy all community interests such as dividends and voting during the lockup period.
2. All FT for sustainable mining returns are from the FCoin Fund. The dividends received by the remaining FT held by the FCoin Fund during the return period are still used for repurchase and destruction of the FT, in line with existing policies.
3. To ensure the stability of mining output and guarantee the mining duration of at least three years through the control and adjustment of daily return, that’s why it is called “sustainable mining”.
Trading as Mining Implementation Rules:
1. Main Board A: Return 1 million FT per day based on the proportion of each user’s trading volume on Main Board A on the following day. Every 3 months will be a Trading as Mining return cycle, which remains unchanged, halved or stopped as appropriate.
2. Main Board B: first to conduct a trial run of Trading as Mining (because of the new online) with the daily return of 100,000 FT according to the proportion of each user’s trading volume on Main Board B and adjust the amount of return at any time, as appropriate.
3. Innovative Board: first to conduct a trial run of Trading as Mining (because of the new online) with the daily return of 100,000 FT according to the proportion of each user’s trading volume on Innovation board and adjust the amount of return at any time, as appropriate.
The above trading rules will be officially implemented at 00:00 (GMT+8) on March 18, 2019.
The implementation rules for Lending as Mining are subject to future announcements.
Interpretation of output stability: After the official launch of the Trading as Mining , the daily output will be fixed along with the halving and adjustment mechanism, so the output can be stable. As for the Lending as Mining part, since the leverage loan amount is limited by the scale of financial product which has an upper limit and is controllable (the principle of the upper limit control is mainly based on the risk assessment result), the output of the Lending as Mining part is also controllable and stable.
The revenue distribution method adjustment implementation plan:
1. 20% of the distributable revenue on the day before the daily allocation (still based on the locked FT amount), and the remaining 80% is included in the Annual Accumulated Revenue.
2. Annual accumulative revenue of the previous year will be allocated on January 1 of the following year, according to the FT holding ratio at 0:00 (GMT+8) on January 1 (not limited to the locked FT), along with Ex-dividends on the day.
3. The principle of “80% of the platform's revenue will be allocated to the FT holders” will remain unchanged.
The above revenue distribution adjustment plan will be officially implemented at 00:00 (GMT+8) on March 18, 2019.
March 15, 2019