The Chaince Foundation, which is incorporated on the Cayman Islands and operates independently, will issue Chaince Tokens (CET) based on the EOS for a total amount of 2 billion. The 50% one-way EOS transaction fees on the Chaince transaction platform (i.e. the EOS transaction fees deducted from the platform when users sell other blockchain assets and buy EOS) will be perpetually injected into the Chaince Foundation public address weekly. Each CET token represents one 2 billionth of the EOS tokens held by the Foundation. The trading platform will also provide transaction services of trading pairs between CET tokens and other blockchain assets.
Chaince Token is not a proof of ownership of the trading platform or a security of any kind. Chaince does not endorse its market value. Chaince Token strictly uses a publicly-offered distribution that does not involve ICO, private equity, institutional sales, token sales or any form of bundled sales.
The Chaince Foundation will airdrop CET tokens to holders of circulating EOS tokens according to the EOS initial token balances snapshot once the main EOS network launches. Every CET token will be airdropped to 1 EOS held by the public. Each EOS mainnet address will receive up to 500,000 airdropped CET tokens. There is no lock-up period for the airdropped CET tokens and the holders can transfer them freely.
The distribution scheme of Chaince Tokens is as follows:
Public Airdrop: 900 million
Market Promotion: 400 million
Chaince Foundation: 500 million
Chaince Club: 200 million
The Chaince Foundation sets a strict limitation on the release of locked CET tokens held by the Foundation to circulate in the market. No more than 20% of the locked CET tokens (20%*50 million) will be released each year. These released tokens are only allowed to be used for the market expansion, recruitment, performance incentives or the future development of the platform. The Foundation will disclose the address of the holden CET tokens so that the public can query and supervise transaction details.
The CET tokens held by the Chaince Club would be used for operation supporting and events planning in the future.
Due to the restriction of maximum amount of airdrops for a single EOS main net address, the distributed CET tokens will be possibly less than 900 million. If so, the remaining portion will be used for follow-up operation support of the Chaince Club.
Every holder of CET Tokens can freeze the CET tokens on the Chaince trading platform and withdraw the corresponding EOS from the Foundation address. The EOS withdrawn can be normally withdrawn or traded while the frozen CET tokens cannot. When the amount of EOS in the foundation address increases due to the continuous injection of transaction fees by the trading platform, the holders of the frozen CET tokens can also continue to withdraw the corresponding growing EOS from the foundation address. If a user returns the extracted EOS to the Chaince platform, the corresponding frozen CET tokens will be unlocked, and the user can instantly withdraw or trade the CET tokens normally.
Special Reminder: CET tokens are publicly presented without the need for holders of EOS to fill their private key on any website or to register for tokens. Users should ensure the security of their blockchain assets and beware of the asset losses due to the leak of private keys.