Dear community users:
According to the referendum result of FCoin sustainable mining and income distribution methods Adjustment, the FCoin Lending as Ming implementation plan is announced as follows:
Sustainable Mining principles:
1. All FT returned by sustainable mining are locked for 1 year and automatically unlocked after 1 year (calculated from the date of issuance). These FT will enjoy all community interests such as dividends and voting during the lockout period.
2. All FT returned by sustainable mining are from the FCoin Fund. The dividends received by the remaining FT held by the FCoin Fund will be still used for repurchasing and destruction of the FT, in line with existing policies.
3. Through the control and adjustment of daily return, the mining output is relatively stable, and we can guarantee the mining duration of at least three years, that’s why it is called “sustainable mining”.
Lending as Ming implementation rules (trial):
1. All FT returned the following day to leveraged traders of FCoin are based on the interest he paid.
2. Interests generated by borrowing less than 24 hours (borrowing and returning on the same day) will not participate in Lending as Ming and will not enjoy FT return.
3. Traders who have borrowed before the start of Lending as Ming, only part of interest generated after the start of mining will enjoy the FT return.
The above Lending as Ming rules will take effect on March 22, 2019, at 00:00 (GMT+8).
1. 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.
2. FCoin will adjust and improve the mining rules according to market conditions during the trial run of Lending as Ming.
March 20, 2019