The daily FT mining rewards for the OTC merchant (different trading pairs will accumulate) = Daily return amount from OTC mining transactions * The effective OTC order pending duration of the Merchant on that day / Total effective OTC pending duration of all merchants on that day.
The algorithm for the effective OTC pending duration of the Merchant on that day is:
Under the precondition of satisfying the merchant's 30-day OTC completion rate is greater than 98%, the difference between the lowest and highest value of the pending order shall not be less than 1 time, and the highest value shall not be less than 10,000CNY (equivalent) (see Special Note 3) ,
The effective OTC pending duration (take 10 minutes as the statistical unit) of the Merchant is the pending duration of buy-one or sell-one price under a certain currency OTC market, specifically:
Every 10 minutes is a cycle. Take a random time during a cycle and find the buy-one or sell-one price the order is sorted to find one sell/buy one. If an order survives completely for 10 minutes in this cycle, then the effective pending duration is,
The larger one (order creation time, starting time per cycle) + cycle duration (10 minutes) <= order ending time
Orders that satisfy the above formula is considered as an effective pending order, and vice versa.
1. OTC mining rewards will be returned on a daily basis, and new pending orders after 0:00 (GMT+8) are qualified to participate in the OTC mining on that day. That is to say, OTC mining is based on one day's statistics, the cross-day pending orders will not be counted in the next day's OTC mining, please be aware of that.
2. Once the merchant is found to have a long-term pending order but does not provide services or cancels the order maliciously, the mining award will be canceled. The merchant will be disqualified if the circumstances are serious.
3. The difference between the lowest and highest values of the pending order range shall not be less than 1 time, and the highest value shall not be less than 10000CNY (equivalent), for example: under the USDT/CNY trading pair, the limit price between 5000-10000CNY, 1000-50000CNY, 20000 -40000CNY are all satisfied, but 2000-4000CNY (the highest value does not meet), 10000-11000CNY (the range gap does not match) are all cases that do not meet the conditions.
Consensus Resolution: PASS
Support: 潜龙, 思旷, 巴菲特, 麻久熙, 唐律华, 六翼天使资本贾继双, 子陵, 周安, Frank;
Abstained/Not state: none.
Besides, since the term of the first FT Community Committee is coming to an end, this proposal will be the last proposal of the first FT Community Committee. On the occasion of the Committee members changing, the members of the first term made the following summaries to express their expectations for the work of the next Committee.
Summary from the members of the first FT Community Committee:
Someday, with the sail piercing the clouds;
I will mount the wind, break the waves, and traverse the vast, rolling sea.
FT100, villas by the sea!
I will participate in the management of the FCoinJP Community Committee. I am very honored to work with you at the FCoin Community Committee, to build the big ship and embark on a whale-hunting tour this year. Cheers, the next committee!
Summary during my term. I have always known and positioned myself as a private investor. All my proposals and work were centered on the consideration of private investors, and I tried to use my power to maintain the trust of the people. People are that all matters. I had done my best to interpret every announcement of the community and the platform by my own understanding along with the communication between Zhang Jian and other members. The practice of communalization allows more people to participate, especially when the public chain when online, which shall lift the entire FT ecosystem from achievable to be realized.
For my expectations of the next committee member, I hope they help the growth of FT and add more value to the FT by actual action, to contribute, money, or power, or the resources.
My personal harvest: I have followed the FT community all the way, from the peak to the bottom, from the darkest moment to the return. I am lucky to be able to participate in the work of the first community committee, and I had firmed believe that the communalization of the blockchain token economy is the right path, especially in the past few months. I am even more convinced that Zhang’s official team is determined to build the FT public chain and ecology. At the same time, I am pleased to know a group of like-minded brothers from the Social community Committee during my term.
Finally, I would like to share my statement that I campaigned for the second community Committee:
Destroy glory! Only make the FT 100RMB is the right way!
Through the darkest moment, FT began to grow up gradually, I am expecting healthy development of FT public chain ecology, the switching underweight consensus, the dividend consensus, which is a long way to go. Continue to work with FT to a new peak under the leadership of Zhang Jian.
After eight months of work with FCoin Community Committee, I deeply realized the hardships and hopes of the community governance of the exchange. From the appointment of our first committee member, we explored how to communicate online and carry out community governance work. Then the needs assessment team was established, and the proposal group, the first offline meeting of FCoin Community Committee, organizing the community to write FCoin White Paper 2.0, these were all glories in the history of the exchange industry.
FCoin is like a shining star in the historical trend. It is getting brighter and clearer. It is not for surpassing anyone, nor for killing anyone, but for being a unique one. Stick to ourselves and adhere to the road of the token economy. We will follow the path of FCoin itself In the future.
Acquaintance is a kind of fate, to know you are my blessing.We will still work together to contribute to the construction of the FCoin community in the future, w. We hope that the second committee will be able to follow the trend, and FCoin will become more successful under the leadership of Mr. Zhang.
I gained a lot during my term of the first FT Community Committee, I was deeply touched, and grateful to Zhang’s firmness and tenacity, and to walk out of the darkest moment with the community. FT's great ecology will surely overcome all obstacles, to the success, to make FT more valuable, to make the community even greater, and God must not fail a group of old belivors who have dreams and are willing to practice!
Time flies, as a member of the committee, I am deeply honored to walk through the darkest moment in the past six months with a bunch of the community believers. FCoin community autonomy, the power of communalization is obvious to all, I hope that the next committee members can better reflect the needs of the community and carry out community-based activities.
I learned a lot of really valuable things from the FT community this year, including understanding of the community, the exchange, and the general economy; how to make the cake bigger, to distribute the care more reasonably, to establish and improve a reasonable community-based mechanism, so that the participants can benefit while contributing to the FT community, strengthen the community, the ecology, and unswervingly follow the path of communalization while continuing optimize the product and bring the best experience to the users. The FT community will be the star of the sea!
Time flies. From the darkest moment to the return of the FT king, there are laughter, twists and turns, passion, and helplessness. Communitization is a slow and long-term process. During the eight-month term, the community, the pass, and the DeFi I have a deeper understanding and understanding of the future economic situation. I also hope that the next session of the Social Welfare Committee will be closely around the team. Under the leadership of General Zhang, practice the spirit of the community, vote for each ticket, and let FT go，to the stars to the sea!
FT Community Committee Secretariat
June 28, 2019