Dear BigONE users, after the strategic upgrade of BigONE, we’ve received many positive feedbacks. However, there are still many users confused about our 「Repurchase with 100x Price Plan」.
Thus, we decided to explain all of the questions we gathered in details. The answers are as follows.
Questions about 「Contribution Points」
How to get「Contribution Points」?
- Besides through inviting your friends to trade at BigONE, you can only get 「Contribution Points」by becoming VIP of BigONE. Your VIP level depends on your trading volume within 30 days. If you become VIP in one day, your status can last for 30 days if you can’t meet the trading volume requirement afterwards.
- For example, you can accumulate your trading volume to 3 BTC in a day and become VIP 1 the next day which will ensure your「Contribution Points」for 30 days. On the other hand, you can also choose to keep your trading volume at 0.1 BTC each day. Then after 30 days, you will accumulate your trading volume to 3 BTC and become VIP 1. In this way, you should keep trading 0.1 BTC every day to prevent your VIP status from being cancelled.
- VIP 1 can get 10 「Contribution Points」every day. The higher your VIP level, the more 「Contribution Points」you can get.
- We distribute 「Contribution Points」according to VIP levels rather than users’ trading volumes in order to keep our plan sustainable. Details about VIP levels and related 「Contribution Points」: https://b1.run/fee
- After you log in BigONE, you can see your VIP level and the progress of your VIP upgrade in your account.
Will self-trading volumes be counted in the calculation of VIP level?
- You will pay trading fees while self-trade. Thus, it will be counted.
- The trading volumes of both sides will be recorded during the self-trading process.
There will be 10 million「Contribution Points」distributed each round but only 1 million can be exchanged. How soon can they be all exchanged?
- Distributing 10 million「Contribution Points」doesn’t mean BigONE get 10 million CNY trading fees. However, it often could be over 1 million CNY.
- After we finish 10 rounds of distributing which means 100 million 「Contribution Points」will be distributed, we will adjust the amount of 「Contribution Points」each VIP level can get and also increase the amount of 「Contribution Points」
- There will be more activities in the future to benefit our users who make contributions.
How will the exchange chance of 1 million 「Contribution Points」 be allocated? Is that according to the time we appoint? How to understand “be distributed proportionately”?
- Not according to the time users appoint. It will be distributed proportionately among BigONE users who have applied to exchange.
- Take Round 001 for example. If the exchange amount appointed is 10 million, then each user who appoints the exchange can get 10% amount of that they’ve appointed to exchange. If the amount appointed is 5 million, then each user who appoints the exchange can get 20% amount of that they’ve appointed to exchange. If the amount appointed is 1 million or less than 1 million, then all of them will be exchanged.
How long each distribution round will take?
- We estimate that Round 001 will finish in 30-50 days.
After 10 million 「Contribution Points」be distributed, how the exchange process will be?
- The day after 10 million 「Contribution Points」be distributed, we will provide the webpage for appointment at 10 a.m.
- You can choose BTC or ONE to exchange when you make your appointment.
- After you make your appointment, the certain amount of 「Contribution Points」and your ONE will be locked.
- You will have 24 hours to make your appointment. It will take us at most 3 days to give out the cryptocurrency you apply to exchange.
- Once we finish the exchange, the certain amount of「Contribution Points」and ONE will be deducted. The unexchanged part will be unlocked.
- The ONE BigONE receives during the exchange process will be destroyed in 7 days.
Questions about Trading fees
It seems users will lose money if they trade deliberately at BigONE to become VIP?
- Users who have demand to trade can become VIP as they trade which not only will lower their trading fees but also help them earn 「Contribution Points」.
- Trading deliberately is just like buy 「Contribution Points」with trading fees. 「Contribution Points」is an important part of ONE ecosystem. There will be more ways to get and use 「Contribution Points」at BigONE to increase the value of 「Contribution Points」and ONE.
What if all the assets in the exchange pool are distributed some day?
- No worries. BigONE ensures all of the 「Contribution Points」can be used to exchange.
Questions about ONE
Will 「Repurchase with 100x Price Plan」replace the former repurchase plan which destroy ONE with the quarter profits of ONE ecosystem projects?
We will work on these two repurchase projects separately. We will continue to repurchase ONE with 50% profits of ONE ecosystem projects.
The first round of 50% profits repurchase will start at the beginning of July, 2019. At that time, we will repurchase ONE with the 50% profits of ONE ecosystem projects (includes the profits of Mixin nodes and PoS nodes) which generated in the first half of 2019. Later, we will repurchase per quarter.
How about the part of ONE which is frozen now and unlocking day by day?
It will not be changed.
Thanks for your continuous support and understanding.
June 20, 2019
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