CSO Follow Up Report

CrossFi_Official
CrossFi_Official
Published in
2 min readMay 13, 2024

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It is our pleasure to declare our 13th CSO event officially concluded, and successful.

Community members who are frequent partakers of previous versions of our CSO events would be familiar with the huge successes we have recorded in the past.

We have recorded yet another outstanding success in the just-concluded CSO Round #13. The event took place 10th May, 2024, at 20:00 (UTC+8 Singapore Time), and featured the distribution of 775 Filecoins.

Below are the statistical recordings from CSO #13:

A total of 775 FILs (Filecoins) were selected for the event in which they were all distributed. A cumulative summation of

Limit-195 cFILs

Unlimit-580 cFILs

· A total of 545,853 CRFIs were burned

· The Limit swap exchanged 74,964 CRFIs

· The Unlimit swap exchanged 226,220 CRFIs

· The burned CRFIs included 22,620 CRFIs charged as Participation Fee in the Unlimit swap

· The Swap Ratio set immediately before the event was 390:1

Verification of the CRFI burn can be done at these incineration addresses:

BSC TX ID: 0x80562c52f10e578296d8471533d2e5b9dd46df949a053997552349cd878ec504

ERC20 TX ID: 0x011f5cfd941d7cac7f72d0c426dcf1b7cbe4f0251b910a6f48b0da320dc5c62f

All 775 FILs in the pool were utilized. Had it been the event was in any way less successful and consequently gathered unclaimed Filecoins, the remainders would be compounded into the pool for CSO #13, therefore an entirely new pool will be created for the coming round.

Notably, 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 had hoped you enjoyed and gathered profits from the 13th CSO event. More opportunities are on the way. Stay tuned.

CrossFi is a cross-chain protocol that provides liquidity for Filecoin staking and rewards.

CrossFi Official Website: https://crossfimain.com

CrossFi DApp Address: dapp.crossfimain.com

CrossFi Official Twitter Account: https://twitter.com/globalcrossfi

CrossFi Official Discord Group: https://discord.gg/UKGSX3VBY3

CrossFi Official Global Telegram Group: https://t.me/crossfimain_en

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