1. How can I participate in the development of the community?
At present, the best way to participate is through normal trading, earning the right to income distribution. Other rights and interests will be introduced later. Currently, only holders of proof of stake (i.e. TPG) can participate in the joint development, success, and responsibility of the community.
2. I settled my transaction, why doesn’t my account have TPG?
From the time your transaction fee is calculated, a corresponding amount of TPG will be paid out 168 hours (7 days) later. (For example: You make a trade on September 7 between the hours of 13:00-14:00. On September 14 between 13:00-14:00, you would receive TPG corresponding to the trade made on September 7).
3. How do I calculate the amount of TPG obtained from participating in [Trading Premium Gain]?
Average price per hour interval = Total transaction amount per hour / Total volume per hour
(If you trade 20 USDT, the average price for this hour is 0.1 USDT, we will charge 0.05% as a transaction fee, so the fee would be 0.01 USDT. Based on these numbers, the TPG you get would be worth 0.01 USDT, so you would get 0.01 TPG)
4. Can I sell off my TPG the moment I receive it?
Yes. You can dictate how TPG is used from the moment you receive it.
5. Is income distribution handled in TPG as well?
“Trading Premium Gain” income distribution is done according to 70% the currency types and amount received. That is to say, whatever currencies are used to trade are the currencies that will be giving back through income distribution.
6. Can I use my income the moment it is distributed to me?
Yes, you are free to use income as you see fit the moment they are distributed to you.
7. How do I calculate my minimum persistently held TPG?
From the time a snapshot of TPG held is taken, the lowest amount held during the period, regardless of how long it was held, serves as minimum persistently held TPG.
8. How long do I have to lock in TPG before I can receive income distribution?
Starting from August 31, 2018, iCoinbay looks at 7-day long periods and calculates minimum TPG held each week. During the period ending at 24:00 (GMT+0) on the 7th day, the number of TPG holdings will be tracked in real time, and income distribution will be conducted according to the ratio of TPG held to TPG in circulation. (For example, if the period is Sept. 7, 2018 - Sept. 14, 2018, and you held 3 TPG over that whole time, then you would receive income distribution based on this TPG at 24:00 on Sept. 14, 2018)
9. How is held TPG calculated into income distribution?
Using an example to illustrate, if your minimum held TPG for the period was 7,000 TPG, the exchange’s income for the period was 1,000 BTC, and TPG in circulation was 1,000,000,000, then the equation would for distributed income would be: (7000/1,000,000,000)*1000*70% = 0.0049 BTC.
10. Do I need insurance from the TPG given through the [Trading Premium Gain] plan? Can I refuse to buy insurance?
The insurance mechanism was launched to protect TPG and TPG holders from risk of depreciation for a certain period of time. To start trading, you have to agree to the policy agreement displayed after login.
11. I’ve completed a trade, why can’t I see my policy information?
Insurance for TPG created the day before will be enacted at 00:05 (GMT+0) each day.
12. What can I gain by participating in the insurance system?
You can keep your TPG from being devalued due to fluctuations in the secondary market and receive TPI tokens equal in value to the insurance premium.
13. Can I cancel my policy part-way through? When will I receive the TPG after doing so?
During the 100-day insured period, you can choose to terminate the policy at any time, but termination also means the loss of the value-preservation function. After termination, your TPG will cahnge from a “Frozen” state to an “Available” state and you can control it at your discretion.
14. What happens at the end of the policy?
When the 100-day period expires, iCoinbay will automatically distribute stablecoin of equal value according to the daily average price at the time you originally created the TPG to your account.
15. If Everbright Financial Company Limited runs into issues, will the policy be invalidated?
Please rest assured that the policy is still valid and iCoinbay will continue to honor the policy and protect your rights and interest.
16. Can I trade TPI?
At the moment, the conditions needed for stable, healthy TPI trading have not been established, and thus is not supported at the moment. However, this may change in the future, please keep following our announcements.
17. When do I get TPI? Why hasn’t it been given to my account yet?
The insurance system will enact an insurance policy for a certain day’s issued TPG at 00:05 (GMT+0) the next day, TPI will be issued at this time.
18. What does TPI supplement mean to me?
Hello, because the trading conditions for TPI are still not mature, TPI will be temporarily priced at 0.1USDT. When TPI trading is launched, if the average price of the past 10 days is lower than 0.1USDT, then the exchange will make up the difference to community members in the form of a TPI supplement. So if you held 10TPI, with a corresponding value of 1USDT, but the past 10 days had an average price of 0.01USDT, then iCoinbay will supplement 90 TPI to you.
19.What if I want to hold onto my TPG and don't want to exchange it for USDT after 100 days? What should I do?
On any day before the end of the policy, you can go to "My Policy" and terminate the policy. Then you can keep TPG without worrying about it automatically converting into a stablecoin. Of course, if you do this, the value protection function of the insurance is lost.
20.If the policy ends before the end of a TPG income distribution period, how can I still get income distributed to me?
You can continue to receive income distributions by purchasing TPG on the secondary market before your policy ends.
Welcome to our community：