Dear community users:
We are scheduled to optimize and upgrade the FCoin Lending as Mining algorithm at 0:00 (GMT+8) on April 22, 2019.
The expected effect of this upgrade is:
The Lending as Mining return is changed from the original “return to the users at the following day after interest repayment day” into “return to the users at the following day after the daily interest generated and computed”. That is, the Mining return of the leverage loan users is updated from “at the following day after the interest repayment” to “after daily interest computed”.
The specific plan is:
1. Leveraged loans will generate interest on a daily basis. After the interest is generated on the same day, FCoin will convert the interest amount of the day into 120% of the average price of FT and return it at the following day.
2. Interest generated by borrowing less than 24 hours (the first interest-generating duration) will not enjoy FT return.
3. We will take a snapshot of leveraged loans between 23:00-24:00 on April 21, 2019 (the borrowings and repayments will be suspended during this period) and return all the accumulated FT Mining rewards (by converting the interest amount of the day into 120% of the average FT price) at the following day. All the Lending as Mining return after that will be executed according to the new rules.
April 21, 2019