What is The Syndicate?
The Syndicate is a fundraising platform for the most promising crypto projects to list their coins or tokens on the Crypto.com Exchange. Crypto.com Coin (CRO) holders, those who have staked CRO in the Exchange, will receive priority token allocation for these events at a discount.
To find out more, visit our blog on The Syndicate: https://blog.crypto.com/the-syndicate/.
Who is eligible to participate in The Syndicate listing events / special events?
To participate in a Crypto.com Exchange Syndicate listing event / token sale, you need to:
- Successfully sign up as a Crypto.com Exchange user (for a step-by-step guide, click here).
- Stake at least 5,000 CRO in the Crypto.com Exchange account (for a step-by-step guide, click here).
- Trade the minimum volume required at your CRO staked level on the Crypto.com Exchange in the past 30 days.*
- Use CRO to subscribe at a 50% discount during the subscription period.
- Not be a citizen and resident of the United States, China, or Hong Kong.
- Trading volume is calculated daily and can take up to 1 hour to calculate at most. To avoid any delays, we advise you to satisfy the trading requirement well in advance of the subscription timelines.
- The past 30-day trading volume is calculated every day at 00:50:00 UTC; thus, the volume calculated on the day of a Syndicate event will be used to determine your eligibility.
- If your trading volume does not meet the requirement for the event start time, you can still continue to trade throughout the day. The trading volume will calculate again the next day at 00:50:00 UTC, and if you meet the volume requirement you can still subscribe before the event ends.
What happens during a listing event / token sales?
Details will be published for each event that occurs, including:
- Token information
- Amount of tokens for sale
- Discount level
- Start/end time of the listing event (“Subscription Period”)
- Pricing and discount levels
- Maximum CRO contribution
In order to participate, log in to your Crypto.com Exchange account and navigate to The Syndicate page.
What is the process for participating in new listing events / token sales?
1. Details about the listed token will be published shortly before the Subscription Period starts, including the fixed discounted price of the project token on sale and the total supply of the project token that is available for subscription.
In order for you to participate, you must stake at least 5,000 CRO and trade the minimum volume required at your CRO staked level on the Crypto.com Exchange in the past 30 days. Trading volume is calculated daily at 00:50:00 UTC. You can find the relevant information on your Dashboard when you log in.
2. During the Subscription Period, you can subscribe to the project token by contributing CRO up to your maximum allocation. Your maximum allocation in CRO will vary depending on how much CRO you have staked and how much you have traded on the Crypto.com Exchange. The more CRO you stake, the more project tokens you can subscribe for.
3. Once the Subscription Period ends, we will calculate your final allocation and any un-unused CRO. For a detailed explanation of how we calculate your final project token allocation, please see “How is my final allocation calculated?” below.
4. Within 24 hours of the Subscription Period ending, you can either accept or reject the final allocation amount.
- If you ACCEPT, we will deduct whatever CRO amount based on the discounted project token:CRO price and refund any un-used CRO to your Exchange balance immediately.
- If you REJECT, we will refund the entire amount of CRO that you contributed to your Exchange balance immediately.
5. If you have successfully accepted, within 1 week after the end of the Subscription Period, you will receive your final allocation and any un-used CRO to your respective balance on your Crypto.com Exchange account.
Important: If you do not accept/reject your final allocation within 1 week after the end of the Subscription Period, your final allocation will be forfeited and the entire CRO amount that you contributed will be refunded to your Exchange balance.
Can I stake more CRO during the subscription period in order to subscribe more tokens?
If you have maxed out your CRO contribution for a listing event, you can increase your maximum allocation by staking more CRO until you reach the next CRO staking level.
Can I change my subscription amount during the subscription period?
You can contribute more CRO to subscribe for the token in the listing event by clicking the "Subscribe" button on The Syndicate page. However, once you have contributed CRO to subscribe for the token you cannot reduce the amount of CRO contributed towards the subscription.
How is my final allocation calculated?
At the end of the Subscription Period, we will determine your final allocation and any CRO refund using these formulas:
- The Total Project Coin Subscribed is calculated by the Total Amount of CRO Pledged by all Participants divided by the price
- The Project token:CRO Price is the price fixed for subscription with up to 50% discount applied
When will I receive my allocation?
If you have accepted the final allocation amount, you will receive your allocation and any unused CRO at the designated Distribution Time.
The allocated amount will be deposited into its respective balance in your Crypto.com Exchange account and can be used immediately.
For Distribution Time, please check the respective token listing page on The Syndicate
How do I list my token on The Syndicate?
Click here to apply for your project to be listed.