How can I participate in the XLM listing event on The Syndicate?
To participate in the XLM listing, you need to:
- Successfully sign up as a Crypto.com Exchange user (for a step-by-step guide, click here).
- Stake at least 10,000 CRO in the Crypto.com Exchange account (for a step-by-step guide, click here).
- Use CRO to subscribe for XLM at a 50% discount during the subscription period.
- Not be a citizen and resident of the United States, China, Bulgaria or Hong Kong.
How I do stake CRO on Crypto.com Exchange and what are the benefits of staking?
Staking CRO on the Exchange will give you the following benefits:
- If you have staked at least 10,000 CRO, become eligible to participate in the Syndicate’s listing event
- CRO rebate when you pay trading fees with CRO
- 20%p.a. Interest, paid daily
What’s the minimum amount of CRO I need to stake in order to participate in the XLM listing event?
In order to enjoy the 50% discount on XLM, you must have first staked a minimum amount of 10,000 CRO. The amount of CRO you have staked will determine the maximum amount of CRO you can use to subscribe for the XLM at 50% discount:
**The maximum allocation in CRO stated in the table above is indicative and for reference only. Please visit crypto.com/exchange/syndicate on the listing day to view the final maximum allocation.
For example, if a user staked 500,000 CRO, s/he can contribute a maximum of 360,000 CRO to subscribe for the XLM at 50% discount during the subscription period.
When can I participate in the XLM listing event?
Please refer to the listing timeline below:
As stated in the timeline above, the subscription period will begin on 15 Jan 2020 6am UTC, and it will last for 24 hours.
To participate in the listing event during the subscription period, place your subscription order by visiting crypto.com/exchange/syndicate.
How do I find out how much I get allocated?
At the end of the Subscription Period, we will determine your final allocation of XLM according to the terms set out above. Once the final allocation is confirmed, you have the option to agree to it by doing so via The Syndicate detail page after you log in to the Crypto.com Exchange. The un-used CRO will also be refunded to your balance in the Exchange after you have indicated your acceptance/rejection of the final allocation.
You will forfeit your final allocation if you do not take action within 24 hours following the end of the Subscription Period.
How is the XLM allocation amount calculated?
Let’s go through an example here.
Key assumptions for this example:
Now, assume a user, Joe, wants to contribute 64,000 CRO to participate at this XLM sale event.