The Syndicate Listing Event for COMP with a $500,000 USD allocation at 50% OFF
Crypto.com is pleased to announce the listing of Compound Governance Token (COMP) on The Syndicate platform. If you don’t have an account, sign up for the Crypto.com Exchange now to qualify for this sale!
What is COMP?
Compound is a protocol on the Ethereum blockchain that establishes money markets, which are pools of assets with algorithmically derived interest rates, based on the supply and demand for the asset. When demand to borrow an asset grows, or when supply is removed, interest rates increase, incentivizing additional liquidity. COMP users can supply tokens to a money market to earn interest without trusting a central party. Moreover, they can borrow a token (to use, sell, or re-lend) by using their balances in the protocol as collateral. Read more here.
COMP Listing on the Crypto.com Exchange
COMP will be listed on the Crypto.com Exchange on Tuesday, 25 August 2020 with the following trading pairs: COMP/USDT and COMP/CRO.
All Crypto.com Coin (CRO) stakers will be able to participate in a discounted sale event for $500,000 USD worth of COMP at 50% off. The Syndicate listing event will commence on Tuesday, 25 August 2020 on the Crypto.com Exchange.
Sale Amount & Subscription Price:
- Total COMP Supply: $500,000 USD worth of COMP
- Discount rate: 50%
Each participant’s maximum amount of CRO that can be applied towards the listing event will depend on the amount of CRO Staked and past 30 days trading volume on the Crypto.com Exchange, as shown below:
Syndicate Allocation Subscription:
- Crypto.com Exchange users will be able to subscribe for COMP by contributing an amount of CRO tokens not exceeding their respective maximum allocation. Staked CRO tokens may not be used to subscribe for COMP in the listing event.
- Crypto.com Exchange users will need to trade the minimum volume required at your CRO staked level in the past 30 days in order to be eligible to subscribe.
- The past 30-day trading volume is calculated daily at 00:50:00 UTC; thus, the volume calculated as of 25 Aug 2020 00:50:00 UTC will be used to determine your eligibility. For more information regarding exact cutoff times, refer to our FAQ here.
NOTE: The trading volume can take up to 1 hour to calculate at most. To avoid any delays, we advise you to satisfy the trading requirement well in advance of the subscription timelines.
Listing Event Timeline:
Syndicate Allocation Distribution: Listing event participants will receive their finalised COMP allocation at Distribution Time. If the total contributed amount for the listing event is above the total discounted allocation, each individual participant’s final COMP allocation will be calculated as follows:
- Crypto.com reserves the right to cancel or amend The Syndicate campaign rules at its sole discretion.
- Citizens and residents of the United States, China and Hong Kong will be excluded from The Syndicate campaign.