Sale Amount & Subscription Price:
Total COMP Supply: $500,000 USD worth of COMP
Discount rate: 50%
Note: 26 August 2020 01:12:08am UTC Update
The discounted spot price and pool size for COMP are corrected to show the fixed prices for event start time:
Total Allocation: 2,795.01369 COMP
Discounted Spot Price (COMP:CRO): 510.8224
The change is favorable (i.e., more COMP will be distributed) and does not affect contributed CRO.
How can I participate in the COMP listing event on The Syndicate?
To participate in the COMP listing event, you need to:
Successfully sign up as a Crypto.com Exchange user (for a step-by-step guide, click here).
Stake CRO on 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 for COMP at a 50% discount during the subscription period.
Not be a citizen and resident of the United States, China, or Hong Kong.
The past 30-day trading volume calculated on 25 Aug 2020 00:50:00 UTC will be used to determine your eligibility. The cutoff time for trades to be included is 24 Aug 2020 at 23:59:59 UTC.
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.
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 between 25 Aug 2020 00:00:00 UTC and 23:59:59 UTC will calculate again the next day at 26 Aug 2020 00:50:00 UTC, and if you meet the volume and CRO staking requirements you can still subscribe before the event ends.
How do I 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 5,000 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
How much CRO can I subscribe to the event?
In order to enjoy the 50% discount on COMP, you must stake and trade. The amount of CRO you have staked and the volume traded will determine the maximum amount of CRO you can use to subscribe for COMP at 50% discount. You must meet the trading requirement at your CRO staked level to subscribe:
For example, if a user staked 100,000 CRO and have traded $5,000 USD in the past 30 days, s/he cannot contribute. User must trade at least $5,000 USD more in order to contribute a maximum of 30,000 CRO to subscribe for COMP at 50% discount during the subscription period.
Crypto.com Exchange users will be able to subscribe for COMP by contributing an amount of CRO tokens not exceeding their respective maximum allocation.
Staked CRO tokens may not be used to subscribe for COMP in this event.
*The maximum allocation in CRO stated in the table above is indicative and for reference only. Please visit crypto.com/exchange/syndicate on the event day to view the final maximum allocation.
When can I participate in the COMP listing event?
Please refer to the special event timeline below:
To participate in the COMP listing event during the subscription period, place your subscription order by visiting https://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 COMP according to the terms set out above. This information can be seen on the Syndicate details page on the Exchange or from the email notification.
How do I receive my allocation?
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.
For examples of how it works, please refer to here.
You will forfeit your final allocation if you do not take action within 24 hours following the end of the Subscription Period.