<What is Rights Token?>
It is a token providing rights to receive profit returns of ULTOREX from spot trading fees.
It cannot be deposited nor withdrawn. It won’t be listed for trading either.
- After the swap, no new tokens will ever be issued.
<Rights Token Issuance>
When swapping XEX / KOIN to XCR, the same amount of revenue sharing tokens "Rights Token" will be issued as XCR and will be held by existing XEX / KOIN holders. In some cases, only Rights tokens are issued. (Details are described below)
CROSS exchange and Koindex's operating holdings will swap and issue XEX / KOIN at the same rate as users. Ultorex management will not receive Rights tokens, but only XCR tokens.
<Source of revenue sharing>
ULTOREX spot trading fees.
<Conditions for receiving profit sharing>
Users will receive revenue share for the amount of staked XCR.
The right to pay revenue distributions on Rights Tokens for XCR that is sold, will no longer be available. (if a user sells their XCR, they will lose the revenue distribution rights for the Rights Token they hold forever). Later purchases and staking quantities of XCR do not count towards your right to receive Rights Token revenue distributions.
Users owning Burned XEX will have a swap for non-saleable XCR. This will continuously be counted as Rights token distribution rights.
How XCR is Counted
- XCR staked - Distribution rights are counted.
- XCR in spot wallet (unstaked) - Not counted towards distribution rights. As long as not sold, distribution rights for Rights tokens are not lost.
- Locked XCR - Counted towards distribution rights.
Caution on Selling XCR
If the amount of XCR held (Amount staked + held in wallet) is less than the amount of Rights tokens held, the Rights token distribution rights will be lost and those rights cannot be replenished by buying XCR and staking it.
XCR Sales Example:
Adam holds 100,000 Rights token distribution rights.
He sells 20,000 XCR and stakes 80,000 XCR.
Rights token distribution rights have been lowered to 80,000.
After that, he buys 10,000 XCR and stakes it, having a new total of 90,000 XCR.
However, the Rights token distribution rights remain at 80,000.
User Distribution Calculation
Distribution Amount = Trade Revenue (daily) ÷ XCR staked amount for Rights tokens distribution rights x Distribution rate x Rights token distribution rights held
The distribution ratio of Rights token holders is 20% of the spot fees paid and will be distributed among the distribution rights holders.
*Ultorex management does not own any Rights tokens.
Revenue distribution count and distribution timing
Rights token and staked XCR will be calculated hourly
6:00 UTC is the start of a new day
From 10:00~ UTC distributions will be made daily
Distributed to each user's wallet.
- Total Ultorex revenue distribution for 2 weeks (all Ultorex users)
- Revenue distribution per 1 Rights token (calculated avg.)
- Your 2 week total revenue distribution
- Your amount of qualified Rights tokens (aggregated at 6:00 UTC on 2nd and 4th TUE of every month, and delivered by email the following Wednesday)
Email delivery on the following Wednesday of each 2nd and 4th TUE of the month
*emails only sent to qualified Rights token holders receiving distributions
<KOIN ＆ XEX Swap Rate>
XEX / KOIN holders will get the same amount of Rights tokens when swapping XCR.
XEX → XCR
KOIN → XCR
The Swap price rate is -
XEX: 0.005 USD
KOIN: 0.04619 USD
XCR: 0.11 USD
Burned XEX will be swapped for Locked XCR.
There is a bonus at the time of swap for XCR & Rights Token.
XEX is +5%
KOIN is +2%
The above XCR Rights token will be given as a bonus.
|XEX||①unlocked XEX||$0.005||5%||A+B||Same dist. rate as C|
|Same dist. rate as C|
(XEX earned from bonus that can’t be sold)
|NA||none||None||Permanent Locked Amoun ＋ 5% Dist.|
|KOIN||Free and Staked||$0.04619||2%||A+B||Same dist. rate as C|
* XCR, XCRS, Locked XCR, & Rights token are reflected in accounts based on the data provided by CROSS exchange and Koindex.