Dear valued CoinAll users,
As the first OK Partner exchange, CoinAll aims to build a transparent, community-based platform for all. To this end, we are world-premiering our proof-of-stake token CAC on Aug 1, 2018.
CAC is the proof-of-stake token for all CoinAll users and is distributed through the "transaction mining" mechanism. The total issuance is 10 billion CAC, 51% of which is the "mining portion" to be rewarded to users through "transaction mining". The remaining 49% is the "issuance portion", which will be distributed to CoinAll's founding team, strategic partners, and CoinAll Fund. The issuance portion will be released in proportion to the distributed mining portion. 500 million CAC of the mining portion will be issued in advance through this allotment subscription using OKB. The details are as follows:
- World-premiering time: 12:00, Aug 1, 2018
- OKB is the only medium for subscribing to the allotment. A drawing system is adopted for the subscription. 1 OKB can exchange 100 CAC. The total supply for this subscription is 500 million CAC. The total available supply of CAC is 10 billion.
- 1 OKB stands for 1 drawing entry. If you subscribe for 10,000 CAC, you will need 100 OKB. And you will have 100 chances of drawing. The probability of getting an allotment = 5 million (total supply to OKB required) / total subscription.
- Each lot comprises 10,000 CAC and is priced 100 OKB. After applying for the subscription, the respective amount of OKB will be locked up. After the allotment results are announced, the respective amount of OKB will be deducted according to your CAC allotment, and the remaining OKB will be refunded to your CoinAll wallet. You may check your balance in CoinAll – My Wallet.
- CAC trading will be open at 16:00 on the same day as the subscription ends.
CAC will be utilized as the proof-of-stake token of CoinAll to enable all CAC holders to get shares of returns, take part in decision making and voting, and monitor the community. At the same time, CoinAll will maintain a stable price of CAC with a controllable mining speed, transparent returns sharing, and tiered-rate transaction fee rebate, ensuring sustainable operation of CAC.
We look forward to seeing you on Aug 1.
Jul 26, 2018