As the TDV token shows a weak performance since the launch, Coinstore and the Project agreed to compensate the Launchpad Project participants for their losses. The details are as follows:
Compensation Scheme:
The first snapshot of all Thunder Vault ($TDV) Launchpad Participants' accounts will be taken at 11:00 (UTC+8) on 18th January, 2024, for their available TDV balance in SPOT Wallet (TDV current orders cannot be snapshotted). All TDV tokens acquired through Coinstore Launchpad will be frozen and deducted.
Coinstore will compensate all launchpad participants with the corresponding committed token USDT for their TDV balance snapshot taken. We will account for this compensation as soon as possible and the compensation will be credited to your account within three working days.
Note: A secondary snapshot will be taken at 12:00 (UTC+8) on 18th January, 2024 for unfilled TDV sell order. Please cancel your unfilled TDV sell order in the spot market before the secondary snapshot time to receive TDV compensation for this order.
If users fail to cancel orders before the secondary snapshot time, resulting in Coinstore's inability to snapshot your pending orders to address your TDV balance, any resulting losses will be at your own risk.
Details are as follows:
For TDV acquired from launchpad event, the buyback prices will be calculated based on the subscription price, i.e. 1 TDV = 0.2 USDT
Additional compensation (Futures Credit):
- Participants with a total subscription amount of 1,500 USDT and above will receive 200$ worth of Futures Credit, and those with a total subscription amount of less than 1,500 USDT will receive 100$ worth of Futures Credit as compensation.
The details of compensated Futures Credit are as follows:
- 200 USDT Futures Credit(ETH/USDT, 200U, funding ratio 1:5, Max Leverage 10x)
- 100 USDT Futures Credit(ETH/USDT, 100U, funding ratio 1:5, Max Leverage 10x)
Example:
On January 10 , Alice signed up on Coinstore and participated in the subscription of Thunder Vault ($TDV) launchpad. The actual amount of token invested was equal to 100 USDT. Alice received 500 TDV tokens at the end of the event.
Alice then sold some of her TDV holdings and added some TDV to her position, which resulted in a balance of 1,000 TDV in Alice's TDV account at the snapshot's time point.
In this case, Coinstore will only buy back the 500 TDV tokens from Alice's account and compensate Alice for 100 USDT based on the following calculation:
500 TDV*0.2 USDT/TDV
The excess 500 TDV tokens will not be eligible for the buy back compensation.
Please make sure you have enough balance at the snapshot time. No extra operation is needed for Coinstore will complete this compensation progress automatically
Coinstore sincerely apologizes for the situation. Please be aware of market risks and make your investment cautiously. Thank you for your understanding and support!
Please Note:
- This compensation ONLY applies to users who participated in the Thunder Vault ($TDV) Launchpad event.
- The maximum amount of compensation is equal to the amount allocated to the user in the Thunder Vault ($TDV) Launchpad event. Any amount over the allotted amount will not be compensated.
- After the snapshot time, the portion of the TDV position added to the users' accounts will NOT be compensated.
- If you do not receive a full refund or compensation by 3 working days after 18th January, 2024 12:00 (UTC+8) or have any questions, please contact our online customer service.
Coinstore Team
18th January, 2024