Jubi will launch plan of HPR premium repurchase. Unlike many relatively passive and opaque repurchase mechanisms on the market, Jubi will adopt a new HRP premium repurchase model, conducting monthly premium repurchase at current HRP (abbreviation of Highest Reached Price) price to drive token value appreciation. The detail repurchase plan is as follows:
1. Repurchase Fund Scale
Jubi will use 50% of the trading fee every month for repurchase
2. Repurchase price
We will adopt exclusive HRP scheme for repurchase
HRP can be defined as follows:
Repurchase Price Computation: Repurchase Price= Sell price 1 x Sell quantity 1 + Sell price 2 x Sell quantity 2 + Sell price 3 x Sell quantity 3 +…+ Sell price n (HRP) x Sell quantity n
Statistics are made at the end of each month, using the order data in three days with least fluctuations of the week as sample and monthly trading fee to calculate the highest reachable price (HRP).
3. Repurchase period
Repurchase once a month.
Repurchase day in July: 15th July 2020 (UTC+8)
4. Repurchase Mode
We adopt HRP repurchase mode in both secondary market and OTC repurchase.
That is, 25% of the trading fee will be using to repurchase in the secondary market, and the repurchase will be executed at HRP by one-time order on the determined repurchase day. The other 25% of the trading fee will be used in OTC repurchase according to HRP.
5. How to join the repurchase pool?
Each user can apply to join the repurchase pool, and the number of JT for repurchase cannot exceed the average daily JT holdings 15 days before the user's application.
(Users who hold JT which are not on Jubi exchange can join the repurchase pool by contacting customer service. Calculation will be based on the average JT position 15 days before the application in the wallet address. You cannot participate in repurchase if it is withdrawal from other exchanges as there is no specific holding time. It is recommended that you withdraw JT to the wallets which are not tied to any exchange to accumulate an average daily position and wait for the next repurchase.)
Users who participating in the repurchase pool should apply on the event page during the application period and lock the corresponding JT.
Repurchase time in July: 14th July 2020, 15:00-22:00 （UTC+8）
Confirmation of Payment Time: 15th July 2020, 15:00-20:00（UTC+8）
6. Repurchase Rules
Definition: Contribution Weight
The trading fee (V) from July 1 to July 14, and the average daily holding JT (P) of all friends invited to register from July 1 to July 14.
Jubi will calculate the user's contribution through the comprehensive evaluation of the above two dimensions of data.
Calculation method of contribution W: W = W(V) × W (P)
Accumulated trading fee V (unit: usdt) from July 1 to July 14:
*Cumulative trading fee V includes spot trading and contract trading.
From July 1 to July 14, the accumulated daily average JT holding of all friends invited to register (unit: JT) is as follows:
*The accumulated daily average JT position P is calculated based on the users who are registered.
Calculation method of JT quantity that is eventually repurchased by HRP from users:
Weighted ratio of individual quantity to total application quantity.
Repurchase fund received by users:
Final JT repurchase quantity allocated to users × repurchase price HRP
It’s the first phase of the pilot program, improvement will be adopted according to the suggestions and comments of the community. Feel free to click here and submit your comments and suggestions.
Founded in 2013, Jubi is the world's leading digital assets and derivatives trading platform which aims to provide potential digital assets for users and strives for continuous innovation in digital assets. In the future, the platform will continue to promote the sustainable development of JT ecology by adhering to the concept of user is the core and JT holders are our "shareholders".