CSO #5, Successfully Completed
Hurray! It’s a great delight to announce that CSO #5 was another successful entry.
After the Round 4 of the CSO event that took place on 10 February, 2022 which oversaw the total distribution of 895 Filecoins, we are immensely happy to declare that CSO Round 5 was an unobjectionable success. The event which took place on 10 May, 2022, at 20:00 (UTC+8 Singapore Time) pulled off the distribution of a total of 940 Filecoins, a notable push-up from the distributed 895 FILs in CSO #4.
Here are the statistical recordings from CSO #5:
- A total of 940 FILs (Filecoins) were stipulated for the stretch of the event and they were all distributed. A cumulative summation of Limit- 235 FILs and Unlimit-705 FILs
- A total of 1,461,667.91 CRFIs were accumulated from the users in the event and the CRFIs that exceeded the limit were returned back to the users
- A total of 136,417.5 CRFIs were burned
- The Limit swap exchanged 31,725 CRFIs
- The Unlimit swap exchanged 95,175 CRFIs
- The burned CRFIs included 9,517.5 CRFIs charged as Participation Fee in the Unlimit swap
- The Swap Ratio set immediately before the event was 135:1
Verification of the CRFI burn can be done at these incineration addresses:
- BSC TXID: 0xaad5243f729af02082e5824b74b2fa4909adac976dffa28b382cd765af794843
- ERC20 TXID: 0x275cf8b1a250fe0d5a05dab3159adf3dff255ecb7651a766da91e5e7423e68e2
All 940 FILs in the pool were utilized. Had it been the event was in anyway less successful and consequently gathered unclaimed Filecoins, the remainders would be compounded into the pool for CSO #6. Since it was a bell ringer, an entirely new pool will be created for Round 6 of the CSO event.
Worthy of note: the swap pool was sponsored by 5% of revenue generated by CrossFi Borrow. This means that the higher the popularity of CrossFi Borrow, the bigger the Filecoin pool for the next CrossFi Swap Opportunity. CrossFi is a built-in feature of CrossFi DApp that allows users to borrow cFIL (Filecoin) using sFIL as collateral. You can learn more about the feature here.
Please refer to the CrossFI Whitepaper for details on what CrossFi Swap Opportunity (CSO) entails: How Does CSO Work?
We prolly hope you enjoyed and gathered profits from the 5th CSO event. More opportunities are on the way. Stay tuned.
CrossFi is a cross-chain protocol that provides liquidity to you for Filecoin staking and rewards.
CrossFi Official Website: https://crossfimain.com
CrossFi DApp Address: dapp.crossfimain.com
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