Jubi will launch HPR Repurchase of October at 15:00 (UTC+8) in Oct 20th, 2020. 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 (Sept 24th, Sept 27th, Sept 28th) with least fluctuations of the week as sample and monthly trading fee to calculate the highest reachable price (HRP). The HRP price of September is 0.140 USDT.
3. Repurchase period
Repurchase once a month.
Repurchase day in October: Oct 20, 2020 (UTC+8)
4. Repurchase Mode
We adopt HRP repurchase mode in both secondary market and OTC repurchase.
The total trading fee of spot trading in September is 306,056.26 USDT.
That is, 76,514.065 USDT, instead of the original market order, the repurchase will be executed by non-scheduled limit order. The other 25% of the trading fee will be used in OTC repurchase according to HRP.
Among them, 20,000 USDT will be provided for premium repo guarantee of 1,000 USDT (equivalent to 7124 JT) for JFI top 20 holders! JFI ranking list will be launched soon, and users can view the ranking in real time. The ranking list is updated every hour, and the final ranking is based on the ranking at 14:00 (UTC + 8) on Oct 20, 2020.
5. How to join the repurchase pool?
All JT holders can participate this repurchase. The number of JT for repurchase cannot exceed the average daily JT holdings 10 days before the user's application;
Users who participating in the repurchase pool should apply on the event page during the application period and lock the corresponding JT.
Repurchase time: Oct 20, 2020, 15:00-20:00 （UTC+8）
Payment Time: Oct 20, 2020, 21:00-23:00（UTC+8）
6. Repurchase Rules
Definition: Contribution Weight
The trading fee (V) from Oct 1 to Oct 20, the node power (N), mortgage power (L). Jubi will calculate the user's contribution through the comprehensive evaluation of the above three dimensions of data.
Calculation method of contribution W: W = W(V) × W(N) × W(L);
Accumulated trading fee V (unit: USDT) from Oct 1st to Oct 20th:
*Cumulative trading fee V includes spot trading only.
|Accumulated trading fee V||Weight W（V）|
Node power W(N): Users who staked ≥ 10,000 JT in node plan will gain 2x in W(N) before Oct 20;
Mortgage power W(L): Users who mortgaged ≥ 20,000 JT in node plan will gain 1.2x in W(L) Oct 20.
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
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".
Thank you for your support.
Oct 16th, 2020
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