QGAS BUYBACK CAMPAIGN KICKING OFF IN Q-WALLET OTC, JOIN TO TRADE QGAS FOR QLC REWARDS
Since its debut in late October, Q-Wallet has been in operation for 3 weeks with the total number of registered users hitting 4000. To celebrate the user acquisition milestone and give back to the Q-Wallet supporters, the QGas buyback campaign is launched and will be benefiting all the participants.
QGas buyback campaign is the mechanism through which the platform gives back to the most supportive QGas traders. QGas holders are encouraged to transact frequently, which therefore increases QGas’s trading capacity and improves its liquidity.
Besides, there will be QGas rewards for QLC transactions during the campaign, stay tuned for the rules from QLC Chain on Twitter.
About QGas buyback campaign
~Campaign Time: 00:00 (UTC+8), 19/11~ 00:00 (UTC+8), 29/11~
~Earliest QLC Rewards Redeem Time: 00:00 (UTC+8) every day during the campaign~
~One campaign day: 24 hours between every two consecutive rewards redeem time~
Campaign rules
~Applicable trading pairs: QGas/QLC, QGas/USDT~
~Daily campaign pool during 1 campaign day: up to 10,000 QLC~
~If the traded QGas amount < 10, 000,
Daily QLC rewards amount = Daily traded QGas = Total daily QGas sell amount + total daily QGas buy amount~
~If the traded QGas amount >= 10, 000,
Daily QLC rewards amount=10, 000 QLC~
Calculation of QLC rewards for eligible participants
Weights of the four QGas order statuses:
This mechanism is designed to boost QGas trading within Q-Wallet OTC. The larger the amount of traded QGas, the more QLC are awarded to the participants.
How many QLC rewards does a participant get
Say User A placed one QGas/QLC buy order and one QGas/USDT sell order on 21/11,
By the end of the campaign day, User A’s:
- QGas/QLC buy order: 5000 QGas, 3000 traded, 2000 in progress
- QGas/USDT sell order: 6000 QGas, 2000 traded, 4000 in progress
Total QGas trading volume in the OTC market:
- QGas buy order: 10,000 QGas, 7000 traded, 3000 in progress
- QGas sell order: 9000 QGas，3000 traded，6000 in progress
User A QLC rewards shares factor = (3000*1+2000*0.1+2000*1+4000*0.1）/（7000*1+3000*0.1+3000*1+6000*0.1）=0.5138
User A gets QLC rewards for 21/11 =10000 QLC *0.5138=5138 QLC
Notes
~When an order is locked regardless of the reasons, the order status shall be seen as ‘In progress’~
~If a placed order has been in progress for a few days, it is entitled to share QLC rewards on each campaign day till the order is completed. Its share of QLC rewards is calculated based on the real-time QLC trading amount regardless of the previously awarded QLC~
