Start of trade mining beta service
* Trade mining explained
When a user trades a trade mining applicable trading pair and pays transaction fees, the incurred transaction fee paid will be reimbursed in PROB tokens.
* Trade Mining beta service
A beta service will be launched in order to refine Trade Mining.
- Beta service duration: June 17, 2019 ~ June 30, 2019 (KST)
- Trading pair for Trade Mining (mining trading pair): BTC/USDT
During the beta service, mining trading pairs can be added, changed, and excluded. The rules of Trade Mining can also be amended. Please read the announcements carefully before participating in Trade Mining.
* Schedule
PROB token deposit/withdrawal date: 17 June, 2019 (KST)
Official start of trade mining service: 1 July, 2019 (KST)
* Trade mining rules
- PROB equivalent to 100% of the trading fee paid by a user will be mined and rewarded to the user.
- The unit price of PROB applicable for Trade Mining is calculated as the 24-hour volume weighted average price of PROB against the same base currency as that of the mining trading pair (i.e., average price of PROB/USDT, if the mining trading pair is BTC/USDT) and updated every 10 minutes. In other words, the last updated average price of PROB will be applied as a unit price for Trade Mining.
- Mined PROB will be deposited to a user’s staking wallet during the following calendar day before 24:00 KST and can be traded immediately without any lock-up restrictions.
- Trade mining is not applicable when trading fees are paid in PROB
- Referral bonuses will not be rewarded for transactions involving mining trading pairs.
* Not only will Trade Mining provide users with the benefit of trading fee reimbursement, but it will also help enhance trading activities on ProBit Exchange and promote the PROB ecosystem.
*80% of all trading fee revenue will be used for the ProBit Exchange Buyback Program which will help ensure stability and long term growth of PROB.
* Stake mining
— Every day during Trade Mining period, ProBit will compensate users for staking PROB by distributing new PROB.
— Distribution time: Once a day
— Distribution amount: Every day, PROB equal to 10% of the total amount of PROB distributed from Trade Mining on that day will be distributed to users who are staking PROB in proportion to the amount of PROB staking. PROB stake mining distribution will be deposited into the staking wallet and locked up for 6 months.
* Trade Mining and Staking Mining will continue until the entire amount of PROB allocated for the mining (i.e. 100,000,000 PROB) is mined.
