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Additional Comments Regarding FCoin's "Trans-Fee Mining" Mechanism
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Our White Paper has a detailed explanation of Reimbursement of Transaction Fees. Overall, 51% of the platform's total FT base (referred to as "community reward portion" from now on) will be reimbursed to users over time via our "Trans-Fee Mining" mechanism. However once this 51% of the total FTs has been fully released via reimbursement, the "Trans-Fee Mining" mechanism will automatically end.
Concretely, how this is carried out:
Every day (GMT+8, same below) starting at 0 o'clock, we will convert 100% of the transaction fee generated by the user into FT for accumulation every hour. The discounted price is calculated based on the average price of FT for that hour (average price is total transaction amount/total volume). We will begin issuing all accumulated FT returns on the same day at 11am the next day.
register here:
https://www.fcoin.com/i/3MENeFT is the token issued by FCoin. The entire issued FT base equates to the overall ownership of FCoin trading platform which adopts an innovative “Trans-Fee Mining” model. The total number of issued FTs is set at 10 billion and will never increase. FCoin, the platform, will instantaneously distribute the bulk of its revenue to FT holders. At the same time, FT holders have certain rights in governing the FCoin community.
WITHIN A MONTH , FT RISEN 100 TIMES
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