Announcement of BigONE will Stop “Lock-Mining” Plan and Change the Invite Rebate Calculation Method

Dear users,

BigONE will stop "Lock-Mining" plan and upgrade the 20% invite rebate of the activity at 12:00:00 (UTC+8) on August 28, 2018. The rules after adjustment are as follows:

1. BigONE will stop "Lock-Mining Plan". From 12:00:00 (UTC+8) on August 28, 2018, all users trading in the "Main A" will enjoy 100% trading fee rebate ONE.
2. The rules that invite users to mine for 20% extra mining rebates will be adjusted to the invited users must lock a certain number of ONEs that the inviter can enjoy the extra rebate. The specific ratio will be determined according to the number of locked ONEs, with an upper limit of 20%.   

The specific formula is as follows: the ratio of invite rebate = the number of locked ONEs/ONE’s total number in circulation * the coefficient of the invite rebate

The current "invite rebate coefficient" is 100.

For example, the ONE’s total number in circulation is 1,000,000,000. We assume that the coefficient of the invite rebate is 100, if users want to enjoy the 20% of current rebates they need to lock 0.2% of the total number in circulation, in other words, they need to lock 2,000,000 ONE.

For example, the formula is 20%=2,000,000/1,000,000,000*100  

Note:

1. The system will choose the "minimum value of ONE that invited account locked per hour" as lock amount. Calculate the amount of rebate received by the invite account, based on the transactions produced by the invited account within the next hour.
2. The percentage range of invite rebate is 0% to 20%.
3. The invite rebate coefficient will be disclosed, BigONE will announce in advance when adjustments are needed.

For example:

Users need to lock ONE before 12:00:00 (UTC+8) on August 28, 2018, that they can enjoy the invite rebate from 12:00:00 to 13:00:00. If users lock ONE after 12:00:00, the minimum value of locked ONE is zero, so that the invite rebate is zero too.

How to lock ONE?

Users can see the "Lock/Unlock" button on the "Accounts - Assets - ONE" page. Click the button and then enter the number of "Lock/Unlock" ONE.

Thank you for your continuous support and understanding for BigONE.

BigONE Team

August 27, 2018