Hong Kong-based crypto exchange CoinEx shared an announcement on its website stating that it will pay out long-term dividends in Bitcoin Cash (BCH) for the CoinEx token (CET) holders. The exchange stated that if the CET holdings of users are on CoinEx, it will calculate the dividends into BCH and allocate the dividends directly to their accounts.
CoinEx mentioned in its announcement that it will release “Lock & Mine CET” at the beginning of October and execute the long-term dividend allocation plan. In order to receive the BCH dividends, the users need to hold a minimum of 10,000 CET. Also, none of the CET tokens should be acquired through mining, the exchange clarified. The exchange added that only released CET will qualify for this offer.
Crypto exchange CoinEx stated that in order to guarantee the sustainable development of CET and the interests of CET holders, it has decided to release the long-term dividend allocation plan. As per the plan, the CET holders will continue receiving dividends even after trade-driven mining ends. It further added that BCH will be allocated monthly and within seven business days of every month.
The exchange also mentioned that 80 percent of its total revenue will be allocated to CET holders while the remaining 20 percent will be kept for CoinEx’s daily operations and development. CoinEx will also be using a significant portion of its revenue to re-purchase CET from the secondary market and allocate the same to the qualified CET holders proportionately, as stated in the Bitcoin News report.
Crypto exchange CoinEx stated that during the “Lock & Mine CET” period, it will release 1 million CET on a daily basis. Users who have enough locked CET in their CoinEx accounts will be allowed to share these CET. However, they can do so as per the following ratio – “The users’ locked CET asset/Total circulating CET asset on CoinEx”, as stated on its website.
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