Dear community users,
According to FCoin Community Committee passed the proposal on Upgrading & Optimization of Promotion Mining, the optimization and upgrade plan will be implemented as follows:
The fifth term of Promotion Mining will continue normally in accordance with the original Promotion Mining rules, and the voting will begin on next Tuesday (June 4). The sixth term of Promotion Mining and the following terms will be carried out in accordance with the new rules.
The voting for new Promotion Node finalists will be held in the first week of June 2019, and the first batch of 20 Promotion Nodes will be selected. The specific details are subject to the future announcement.
New Promotion Mining mechanism
Change the promotion period to 1 month and increase the reward to 1.6 million FT/cycle. That is, the submission of the work needs to be completed in 3 weeks, and the voting will be completed in 1 week. Community voting will be held first (weight: 20%), then will be Evaluation Committee voting (weight:80%).
Among the top 20 shortlisted promotion nodes in each term, the last 5 nodes will be eliminated which will not receive any promotion mining rewards.
Promotion node application conditions:
1. At least 5 KYC users (one KYC user can not join in two or more nodes at the same time);
2. Each KYC user of promotion node needs to lockup 10,000 FT (fixed-term lockup type with lockup cycle at least 1 year).
City nodes and non-official community organizations are welcome to apply for Promotion Nodes. The application method is as follow:
First, send the organization name and KYC users' username (at least 5 KYC users meet lockup requirements) to email@example.com with the title ” Applying for Promotion Node”. Then contact the telegram: @FCoinSupport, or WeChat: du13939442121. And your Promotion Node will be regarded as established if your application was approved.
Evaluation Committee Application Conditions:
The Evaluation Committee consists of 15 community partners. Any community partner is qualified for Evaluation Committee application but will lose the right of participating in promotion mining after joining in the Evaluation Committee.