Registered and qualified users get Bitcoin at a 50 percent discount, meaning if the asset trades at $9,500 today, select users can buy it at $4,750 tomorrow. Subscriptions are open until 06:00 UTC on June 30.
No staking of CRO — the platform’s native token — is required, opening the gates for all exchange users to participate regardless of their CRO holdings.
However, staking CRO does have its benefits. Crypto.com notes in a release stakers get a chance to increase their maximum allocation for BTC subscriptions while enjoying added benefits like a trading fee discount, a 20 percent yearly yield on CRO staked, and the preferential interest rate on Crypto.com “Soft Staking.”
The event’s rules are as follows:
Sale Amount & Subscription Price:
Total BTC Supply: $2,000,000 USD worth of BTC
Discount rate: 50%
Max. no. of subscribers to participate: 25,000
Details on the CRO staking and equivalent rewards paid out in terms of BTC allocations are shown in the table below:
However, for Crypto.com exchange users, staked CRO tokens may not be used to subscribe to BTC in this event, noted the release, adding says event participants will “receive their finalized BTC allocation at distribution.”
Caveats remain, however; Crypto.com can cancel or make amends to the Syndicate program without prior notice, while citizens of Hong Kong, the U.S., and China are excluded from the program.
In a post, Crypto.com said all legal matters will be dealt with in Hong Kong, with the program being fully-governed and deemed compliant with relevant authorities. Any participant found to breach the terms, found here, will be liable for legal action.
Last week, the exchange also announced making an upgrade to its exchange system; foraying ahead with improved infrastructure as cryptocurrencies start to take precedence in the traditional finance sector as a “hedge” akin to gold.
To sign up for Crypto.com and participate in the sale, click here.
Disclaimer: Crypto.com is an advertising partner for CryptoSlate.