iCoinbay argues that members who contribute value to the community are partners in the building of the exchange’s community and should be entitled to income corresponding to their contributions. Because of this, as explained in the white paper, we will take 70% of the income generated from transaction fees and distribute the income in accordance with the ratio of TPG held vs total TPG in circulation.
Distrbution content :
70% of the income generated from transaction fees from trades between trading pairs included in the [Trading Premium Gain] plan will be distributed. Distribution will take the form of the currency acquired by the exchange. In other words, what type of coins the exchange receives is what will be distributed to the community. For example, if iCoinbay receives 100 BTC and 200 ETH in revenue during a period, then the income distributed to the community will take the form of 70 BTC and 140 ETH.
Trading pairs currently included in the plan include :
BTC market:TPG/BTC, DT1/BTC, LTC/BTC, ETH/BTC, ETC/BCT, ZEC/BTC, NEO/BTC, EOS/BTC, ADA/BTC, XRP/BTC, BCHABC/BTC, BCHSV/BTC;
USDT market:TPG/USDT, DT1/USDT, BTC/USDT, ETH/USDT, LTC/USDT, ETC/USDT, ZEC/USDT, NEO/USDT, EOS/USDT, ADA/USDT, XRP/USDT, BCHABC/USDT, BCHSV/USDT.
We fully consider the risks associated with allocable currencies, and thus will always conduct a rigorous review of the transaction pairs that are to be included in the plan; this is to better protect the economic interests of community members.
Among them, income from TPG sell order transaction fees (1%) belongs to Ever-Bright Financial Company Limited and will not be calculated into the plan's income distribution.
Distribution method :
Starting from 00:00 (GMT+0) on August 31, 2018, the [Trading Premium Gain] plan will start income distribution. One period is 7 days long, and distribution to members is based on the amount of TPG held during said period.
The first day of each period is considered snapshot day. A snapshot of TPG balances in each account will be taken at 0:00 (GMT+0) on snapshot day. Up until 24:00 on the 7th day, held TPG will be tracked in real time, and the the lowest amount consistently held over all 7 days will be viewed as TPG held by the member and serve as the basis for their income distribution. This amount will then be use to calculate a member’s expected income distribution based on the proportion of total TPG in circulation it represents.
Method for calculating a community member’s expected income distribution：
Receivable income = TPG held during period (detailed above) / Total TPG in circulation snapshot day * Platform’s income from last period* 70%
As described in the white paper, when a community member makes a trade, the TPG Foundation will issue corresponding TPG based on TPG market price at time of trade. This is considered part of the 51% of TPG used for trade/contribution incentives. At the same time, TPG will be issued to the community contributors that represent the remaining 49% of TPG at the same ratio. So [Total TPG in circulation] will be equal to [Trade/Contribution incentives] divided by 51%.
iCoinbay will adjust the above methods and rules in a timely manner according to community development and other factors and in combination with community opinions. New rules will be implemented from the time of public announcement.
This document does not constitute any investment advice or profit guidance. Before making any decision on the basis of reading and understanding the content presented in this document, users should be aware that any investment behaviors have certain risks. Participation means that they are willing to accept all relevant risks.
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