Special Column: An Introduction to Dragon Token (DT), Trading-mining and DT Dividends
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1. Brief Introduction
Dragon Token (DT) is an ERC20 token issued on November 2, 2017, which stands for the DT dividends-sharing equity of the total platform revenue when held.
2. Trading-mining
The only way to mine DT is to trade on the platform, which is called Trading-mining model.
DT will be distributed to users based on the transaction fees they contribute.
DT has a supply limit of 37,339,500.
3. DT Release Rules
DT is a token based on the Ethereum Smart Contract. Starting with the Genesis Block, the Smart Contract of DT will release 3,650 times in total, with 24 hours as an interval and 365 times as a cycle.
In the first release cycle, the daily release volume of DT is 51,200, and the number of it will be decreased by 50% cycle by cycle.
4. DT Distribution Mechanism
DT mined will be distributed to the miners in the light of mining statistics. Each statistical period starts from 0:00:00 and ends by 23:59:59 Singapore time. After the Smart Contract of DT released, DragonEx will distribute the newly released DT to miners for the contribution of the previous day.
The distribution rules of DT mined are as below:
1. 30% of it will be distributed to Miners.
DT Gained = Transaction Fees Paid by the Miner of the day / Platform Revenue of the day * DT Released of the day *30%
Transaction Fees Paid by Miners of the day = Sum of the USDT Converted Value of Transaction Fees in all orders of the day ①
Platform Revenue of the day = Sum of the USDT Converted Value of all Transaction Fees of the day
2. 20% of it will be distributed to Agents as referral commissions.
(Let’s say: User B registers on DragonEx through User A’s invitation link. User A will be considered to be the Agent of User B.)
DT Distributed to User A = Transaction Fees Paid by User B of the day / Platform Revenue of the day * DT Released of the day *20%
3. 10% of it will be distributed DragonEx, which will be blocked for one year for market expansion purposes.
4. 40% of it will be distributed to DragonEx, which will be permanently blocked for future allocation purposes related to R&D, the introduction of talents, project operation, DT buyback & burn purposes.
Note: The time mentioned above is Singapore standard time (UTC/GMT+08:00).
5.DT Dividends Mechanism:
①Every day, 100% of the transaction fees earned by the platform will be distributed to DT holders according to the amount of DT they hold.
②DragonEx snapshots each DT holder’s account balance at 23:59:59 every day.
As the DT mined will be distributed to the account by the next day, the total dividends for the user on that day= snapshot data + DT mined on that day. The dividends will be distributed to holders’ account in the form of Currencies Combination② by the next day.
③Dividends Calculated Formula:
Dividends Distributed to DragonEx = Dividends Gained in USDT Trading Market ③ + Dividends Gained in Other Trading Market ④ + Others Revenue
Dividends Distributed to DT Holder= Dividends * [ The Quantity of DT they hold / (The total DT Issued — The Total DT Burn)]
6. DT Listed Time:
DT launched on November 2, 2017, and started paying dividends from then on.
Note:
①USDT Converted Value of Transaction Fees in the orders = Transaction Fees in all orders are converted at the last price when a deal is concluded.
For example:
Users buy 100 EOS with 0.01ETH when the last price of ETH is 650USDT. The USDT Converted Value of Transaction Fees in the order=0.01*100*0.002*650=1.3
②The Transaction Fees in the USDT trading market will be paid by USDT. The Transaction Fees in the ETH trading market will be paid by ETH. And the dividends distributed to holder accounts’ are in the form of Currencies Combination, namely USDT+ETH, and it will be changed to USDT+ETH+BTC after the BTC trading market opens.
③The Quantity of DT users hold / Total DT shared dividends * Platform Revenue in the USDT trading market ( Dividends are distributed in the form of USDT )
④The Quantity of DT users hold / Total DT shared dividends*Platform Revenue in other trading markets ( Dividends are distributed in the form of other Cryptocurrencies)
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