Dear CoinEx users:
Recently, CoinEx Chain will be upgraded to CoinEx Smart Chain (CSC), a brand new chain that supports smart contract, and multi-chain DEX OneSwap will be the first project on CSC, as OneSwap’s governance token, ONES, will be issued on CSC through cross-chain. Therefore, CoinEx presents to you an exclusive promotion of “Lock & Stake CET to mine 500,000 ONES”. The details are as follows:
1. Promotion duration
00:00 May 16, 2021 - 00:00 May 26, 2021 (UTC)
2. Promotion rules
|
Lock & Stake |
CET |
|
Yield |
ONES |
|
Total yield during promotion |
500,000 ONES |
|
Hourly yield during promotion |
2083.334 ONES |
|
Min. staked asset per time |
1,000 CET |
|
Max. staked asset per user |
1,000,000 CET |
|
Upper limit of total staked asset |
- |
|
Requirement |
KYC verified (Sub-accounts are not included) |
3. Yield rules
(1) Yield calculation
During the promotion, you can lock and stake CET to share ONES as rewards. Hourly snapshots will be taken on locked staking assets and all participants can share hourly yields according to their shares of locked staking.
Hourly mining yields = Your locked staking assets / Total locked staking assets * Hourly yields.
Example: According to the snapshot result of 12:00, the locked staking asset of User A is 1,000 CET, while the total locked staking CET at the time is 100,000, and the hourly yield is 10,000 ONES, therefore:
Hourly yield (12:00) of User A = 1,000/100,000*10,000 =100 ONES
(2) Yield allocation
Yields will be allocated to your account on an hourly basis. Please check amount and history on the promotion homepage.
(3) Yield withdrawal
After allocation, the yields are only available for manual withdrawal on promotion homepage. You can check the details in spot account. After the promotion, all mining yields will be automatically transferred to users’ spot account.
Promotion page：https://www.coinex.com/activity/mining/stake/6
4. Mining instructions
(1) Lock and stake
Step 1: Buy CET and be ready for mining;
Step 2: Click HERE to check promotion homepage;
Step 3: Click “Stake”, enter CET amount and confirm.
You’ll be all set for stake mining after these procedures with ZERO risks of principal loss.
(2) Yield withdrawal
Click “Withdraw yield” on promotion homepage to withdraw yield to your spot account right away.
(3) Staking withdrawal
Click “Withdraw” on promotion homepage to unlock and withdraw CET to your spot account. These withdrawn asset will be frozen in 24 hours. After the promotion, all staked CET will be unlocked in 24 hours automatically.
5. Trading details
CoinEx supports ONES/USDT trading pair and AMM. Learn more about AMM
6. Project introduction
(1) About CoinEx Smart Chain
CoinEx Smart Chain (CSC) is a decentralized and efficient public chain tailor-made for decentralized finance by CoinEx Chain team. The features are as follows:
- Perfect compatibility with Ethereum ecosystem: Built on Ethereum virtual machine (EVM), CSC enables developers to easily transplant DApps to CSC with mature development tools, and gives easy access CSC network for all users.
- Very high efficiency and extremely low transaction costs: Based POS consensus protocol, CSC reduces block generating time down to seconds and supports extremely high TPS performance, while keeping low transaction fees.
- Permission-free nodes: CSC supports up to 101 nodes and are selected by the ranking of staked CET amount instead of centralized auditing, making it more decentralized. Click for more info
(2) About OneSwap & ONES
OneSwap is a fully decentralized trading protocol based on smart contract, with the permission-free token listing, supporting automated market making algorithm (AMM) and limit order. OneSwap innovates a pioneering combination of automated market making and order books, which rely on UniSwap-like market making engines and on-chain matching order books, greatly improving user experience.
With OneSwap, users can conveniently trade with limit orders as they do in centralized exchanges, executing trading strategies according to their own needs; Meanwhile, OneSwap brings more conveniency and efficiency of AMM to all users when they switch to market orders. In addition, a comparison is also made between AMM and order book when a market order is processed, so the best price can be matched to reduce slippage and costs for users.
ONES (OneSwap DAO Token) is an ERC20 governance token issued by OneSwap on ETH. On-chain governance of OneSwap is realized through proposals and community voting. Users with a sufficient number of ONES (more than 1% of the total tokens) can initiate proposals, and any user who holds ONES can vote for or against the proposal. What’s more, 40% of the transaction fees generated in the swap and transactions will be used to repurchase and burn ONES, and the ONES will be automatically repurchased and burned through the BuyBack. The basic value of ONES is deeply bound to the development of OneSwap. As early contributors grow with the platform, they will also enjoy the dividends along the way.
After CSC is launched, multi-chain DEX OneSwap will be the first project on CSC, as OneSwap’s governance token, ONES, will be issued on CSC through cross-chain.
OneSwap official website: https://www.oneswap.net/
*Notes:
1. CoinEx reminder: Crypto assets are innovative investment products with drastic price fluctuations and high investment risks. Before investment, we strongly advise you to fully understand project background, rationally judge the investment ability, and prudently make investment decisions.
2. CoinEx reserves the right of final interpretation of this announcement.
CoinEx Team
May 15, 2021
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