The Syndicate Listing Event for REN with a USD 250,000 allocation at 50% OFF
Crypto.com is pleased to announce the listing of Ren (REN) 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 Ren?
RenVM is a permissionless and decentralized virtual machine protocol. It is a network of virtual computers that powers interoperability for decentralized applications, enabling cross-chain lending, exchanges, collateralization and more. RenVM provides one of the only practical interoperability solutions that can scale. It is also the only solution that allows for secret computation over multiple inputs and multiple parties. RenVM is not a product or an application in and of itself, it is a network (and an accompanying SDK) that allows developers to bring cross-chain functionality to their DeFi applications. Read more here.
REN Listing on the Crypto.com Exchange
REN will be listed on the Crypto.com Exchange on Wednesday, 11 November 2020 with the following trading pairs: REN/USDT and REN/CRO.
All Crypto.com Coin (CRO) stakers will be able to participate in a discounted sale event for $250,000 USD worth of REN at 50% off. The Syndicate event will commence on Tuesday, 24 November 2020 on the Crypto.com Exchange lasting for 24 hours.
Sale Amount & Subscription Price:
- Total REN Supply: USD 250,000 worth of REN
- 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 REN by contributing an amount of CRO tokens not exceeding their respective maximum allocation. Staked CRO tokens may not be used to subscribe for REN 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 24 Nov 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 24 Nov 2020 06:00 UTC till 25 Nov 2020 06:00 UTC. “Acceptance Period” will start 7 days after the “Sales Ends”. Estimated APY (annual percentage yield) for the event is 138%* on CRO contributed during the 7- day period.
Listing event participants will receive their finalised REN allocation at Distribution Time. If the total contributed amount for the listing event is above the total discounted allocation, each individual participant’s final REN allocation will be calculated as follows:
*Estimated APY is calculated based on the CRO contributed in the previous DOT 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.