CSO Follow Up Report
Warmest Greetings, CrossFi family!
We are immensely delighted to announce another outstanding successful entry to the CSO collection.
If you have been a partaker of the Cross Swap Opportunity (CSO) trend, you must know about the giant successes that have been recorded in each round.
After Round #7 of the CSO event which was held November 10th, 2022, leading to the total distribution of 908 Filecoins, we are filled with pride and gladness to announce that CSO Round #8 was an incredible push-through. The event which took place February 10, 2023, at exactly 20:00 (UTC+8 Singapore Time) oversaw the total distribution of 940 Filecoins.
Here are the statistical recordings from CSO #8:
A total of 940 FILs (Filecoins) were stipulated for the event and they were all distributed. A cumulative summation of Limit-235 FILs and Unlimit-705 FILs
· A total of 202,099 CRFIs were burned
· The Limit swap exchanged 46,999 CRFIs
· The Unlimit swap exchanged 141,000 CRFIs
· The burned CRFIs included 14,100 CRFIs charged as Participation Fee in the Unlimit swap
· The Swap Ratio set immediately before the event was 200:1
Verification of the CRFI burn can be done at these incineration addresses:
All 940 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 #9, 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 prolly hope you enjoyed and gathered profits from the 8th CSO event. More opportunities are on the way. Stay tuned.
CrossFi is a cross-chain protocol that provides liquidity for Filecoin staking and rewards.
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