Dear Community Members,
The purpose of the FT long-term holders win-win plan is to protect FT long-term holders from USDT-denominated principal loss when FT price goes below 0.12USDT - benchmark price before the FT Circulation reached 10 billion.
In order to make sure all FCoin supporters enjoy the benefit of the win-win plan, avoid disqualification of participation by misunderstanding or unintentionally operation, FCoin decides to adjust and perfect the plan as follow:
1.Postpone the first snapshot time (official starting time) to 12:00pm, August 9, 2018 (GMT+8), and post it clearly on FCoin Homepage
2. The FT amount in each user account for the first snapshot shall be the benchmark holding amount. Community user will lose win-win plan qualification if FT quantity in his account become lower than his benchmark during subsequent hourly snapshot. Meanwhile, we will open lockup function soon to keep community members from misoperation.
3.The locked FTs of "FOne community recommendation program" also enjoy the benefit of the win-win plan;
4.FT warrant holders also have the opportunity to participate in the win-win plan, details will be announced later.
5.The benchmark holding amount is the effective quantity to participate the win-win plan, please see formula below:
FT1908 dynamic compensation = (FT win-win plan benchmark price - FT/USDT average price during the day) / FT/USDT average price during the day * benchmark amount of the community member
Dynamic compensation shares (FT1908) means it will change dynamically (higher or lower) with the FT holding amount and the FT/USDT price. The compensation won’t be distributed in real-time but will be under the following conditions:
1). When the total FT1908 compensation (issued on the ratio of 1:1 with FT), and the current FT total release reaches the upper limit of 10 billion (system daily automatic evaluation).
2). It will depend on the decision of regularly public community voting which will be launched soon. The specific implementation of public voting will be subject to the future announcement.
6.All pre-issuance and locked FTs (please see Announcement of the LAR(Locked immediately after release) principle of the “previously issued” FT portion) will not participate this plan
7.For explanations of the latest protection mechanisms for FT long-term holders, please refer to Unified interpretation of FCoin's latest mechanism (1) .
August 9th, 2018