Announcement on the Official Start of WTC Buyback & Burn Round 001
Dear global Waltonchain supporters,
WTC Buyback & Burn Round 001 has officially started as Ethereum block No. 8,344,498 has been reached. The steps for application and holdings increase are as follows:
1. Application
Between Ethereum blocks No. 8,344,498 through 8,384,818 (estimated August 14 through 20, UTC+8), users shall sign up and pass identity verification on KIRINMINER Mall (https://kirinminer.waltymall.com/) and transfer not less than 500 WTC in one installment from their personal ERC-20 address into their personal deposit address on the Mall and click “Apply” (Mall desktop version: Home — Buyback — Apply) to complete the buyback application.
2. Holdings Increase
Between Ethereum blocks No. 8,344,498 through 8,384,818 (estimated August 14 through 20, UTC+8), users can increase their WTC holdings in the personal ERC-20 address (the same ERC-20 address as above) multiple times. Only deposit to the personal ERC-20 address and do not withdraw from it before this period ends, otherwise your qualification shall be waived.
The higher and the earlier the WTC holdings increase, the larger the calculated average increased holdings (see the following figure for the algorithm) and the more tags (lottery tickets) the subscribers get. Users participate in draw buyback and inclusive buyback through the tag number. See the examples below:
3. Notes
- If any amount of WTC is transferred out of the personal ERC-20 address between Ethereum blocks No. 8,344,498 through 8,384,818 (estimated August 14 through 20, UTC+8) (except for the 500 WTC transferred to the Mall), such address shall lose the qualification to participate in the Round 001 buyback.
- KYC has no time requirements and is needed for asset withdrawal.
- Users who transferred 500 WTC to the Mall after Ethereum block No. 8,344,498 and before the “Apply” button functionality was added shall also click “Apply” to confirm to participate.
- When users click the “Apply” button, they confirm to lock the 500 WTC transferred to the Mall and agree to participate in Round 001. Waltonchain shall release these assets after deduction of the qualifying buyback quota at the end of Round 001.
Waltonchain Team
August 16, 2019
