The Syndicate Listing Event for EGLD with a $500,000 USD allocation at 50% OFF
Crypto.com is pleased to announce the listing of Elrond eGold (EGLD) 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 Elrond?
Elrond is a highly scalable, fast and secure blockchain platform for distributed apps, enterprise use cases and the new internet economy. Elrond’s approach to increased throughput, called “Adaptive State Sharding”, combines all State, Transactions and Network sharding types into a solution that improves communication inside the shards and increases performance through parallel processing. Moreover, Elrond has proposed a novel approach to consensus called “Secure Proof of Stake” which eliminates PoW computational waste, and combines eligibility through stake and rating with random validator selection, and an optimal dimension for the consensus group. Furthermore, the Elrond Virtual Machine is a dedicated smart contract execution engine built on WASM which expands the family of languages available to smart contract developers. The EGLD token is a unit of value that is native to the Elrond network. It represents a medium of exchange between users & developers who pay to use the network and validators who take the fees as payment for the services they provide. Read more here.
EGLD Listing on the Crypto.com Exchange
EGLD will be listed on the Crypto.com Exchange on Tuesday, 20 October 2020 with the following trading pairs: EGLD/USDT and EGLD/CRO.
All Crypto.com Coin (CRO) stakers will be able to participate in a discounted sale event for $500,000 USD worth of EGLD at 50% off. The Syndicate event will commence on Tuesday, 20 October 2020 on the Crypto.com Exchange lasting for 24 hours.
Sale Amount & Subscription Price:
- Total EGLD Supply: $500,000 USD worth of EGLD
- 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 EGLD by contributing an amount of CRO tokens not exceeding their respective maximum allocation. Staked CRO tokens may not be used to subscribe for EGLD 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 20 Oct 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 day 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:
The sales will last for 24 hours from 20 Oct 2020 06:00 UTC till 21 Oct 2020 06:00 UTC. “Acceptance Period” will start 7 days after the “Sales Ends”. Estimated APY (annual percentage yield) for the event is 118%* on CRO contributed during the 7- day period.
Listing event participants will receive their finalised EGLD allocation at Distribution Time. If the total contributed amount for the listing event is above the total discounted allocation, each individual participant’s final EGLD allocation will be calculated as follows:
*Estimated APY is calculated based on the CRO contributed in the previous BAND Syndicate Listing Event
- 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.