Coinstore Prime relaunches new 'HODL Mode'
Dear all users,
Coinstore Prime, a subplatform of Coinstore Launchpad, will officially launch a new "HODL mode" from September 16th - the amount of subscriptions available to a user for the new phase of Prime will be determined based on the 6-day average Spot Wallet balance of any coins already live on the Coinstore Prime board. Note, the average Spot Wallet balance screenshot may be earlier than the announcement time.
Coinstore Prime is a new sub-listing platform under the Coinstore Launchpad platform, which aims to select quality projects globally, provide recommended listing channels for blockchain projects with potential, gather industry resources, and promote the development of quality blockchain projects.
Under the new HODL mode, a user's 6 day average Spot Wallet balance in the tokens subscribed live on the Coinstore Prime board will determine the maximum amount of USDT that can be invested in a user's subscription for a new coin and will be allocated on a pro-rata basis, i.e. in proportion to the number of USDT subscribed by the user to the total number of USDT subscribed by all users. To ensure fairness, there is a limit on the amount of tokens that can be allocated to each user.
For example, the new Prime program states that "an average Spot Wallet balance of 200.00 INVT can be increased by 1 USDT", and a user with an average Spot Wallet balance of 20,000 INVT in Prime Phase 1 - INVT on the 6th, can invest up to 20,000/200 = 100 USDT to subscribe for the new Prime Issue 1 tokens.
The rules of the revamped Prime Project are as follows.
1. Eligibility: All registered Coinstore users (except for restricted areas).
2. Amount of Prime subscription per issue.
- The base subscription amount may be 0 for some project events on Prime.
- Prime will be available for new Prime subscriptions upon reaching the target Spot Wallet balance in past Prime token assets.
- Each Prime subscription limit is determined by: 1. the final subscription limit determined by the user's HODL assignment; 2. the "subscription limit" that can be raised for each HODL assignment.
3. How to participate in Prime: Coinstore registered users will receive a subscription limit by holding a certain number of previous Prime tokens during the balance assessment period prior to the start of the Prime subscription. During the subscription period, click on the "Invest Now" button on the campaign page and invest a certain amount of USDT within the subscription limit to participate in the subscription.
Note:
1. How is the subscription amount calculated?
-(1) During the active balance assessment period, the system will take a random snapshot of the Prime past token assets in the user's Coinstore account every day and count the average Spot Wallet balance of each Prime project token: the sum of the number of tokens held per day/number of assessment days.
-(2) The user's "credit increase" and "current subscription amount" will be calculated according to the project's HODL assignment rules, which you can view on the activity page.
-3) The maximum amount a user can subscribe to is related to the Prime token assets in their Coinstore account, the more Prime assets you have in a HODL task, the more you can subscribe to in total. Coinstore tasks may have a cap on the amount that can be upgraded.
2. Participation process
- Balance assessment period
-No registration is required. Users will be able to complete their target balance within the time period of the balance assessment to receive a subscription boost. Logged-in users can check the average Spot Wallet token balance and current limit during the assessment period at any time on the activity page.
-At the end of the assessment period, the page will show the final amount of subscriptions the user has received, i.e. the "current amount".
-The daily screenshot of Spot Wallet balance is updated to the previous day, not the current day.
- Subscription period
-When the campaign has entered the subscription period, click on "Invest Now" to subscribe to the current Launchpad project tokens.
-For a single Prime project, users have multiple opportunities to subscribe during the subscription period, and they can make multiple subscriptions within the subscription period.
-The total amount of USDT invested by the user cannot exceed the total amount he/she has received during the holding mandate period.
-The USDT you have invested in the project will be locked. Once subscribed, they cannot be withdrawn and cannot be transferred, withdrawn or traded until allocated.
- Token Allocation
-If the total number of subscriptions across the platform does not exceed the total number of tokens issued for the campaign, the user will receive as much as they have subscribed and ultimately receive.
-If the total number of subscriptions across the platform exceeds the total number of tokens issued for the campaign, the final number of tokens allocated to the user = (number of tokens invested by the individual / total number of tokens invested by all participants) * total number of tokens issued for the campaign, any tokens invested but not used will be returned to the user.
*For example, if the AAA subscription price is 0.1 USDT, the number of subscriptions is 10,000, Bob's participation subscription amount is 500 USDT, the total subscription amount of the whole platform is 2,000 USDT, Bob's final allocation amount = (500/2000)*10,000 = 2,500 AAA, Bob's actual subscription amount cost 2,500*0.1= 250 USDT. The actual subscription amount cost Bob 2500*0.1=250USDT, so Bob will receive 250USDT back.
3. The specific time and project information of the Prime project token subscription will be announced when the event goes live.