Fintech platform Crypto.com has added support for VeChain VET tokens on its Syndicate Lite platform.
Crypto.com was pleased to make the announcement that the listing is expected to go live on Tuesday, April 28, 2020.
According to the announcement, all Crypto.com token (CRO) stakers will be able to bid for the $500,000 worth of VET on sale at a discounted price. The VET token will be sold at a 50% discount for CRO crypto stakes only.
📢Next on The Syndicate: 5⃣0⃣% off on #VeChain $VET (US$500K allocation) on 28 April 6am UTC. Stake $CRO to participate! Details here – https://t.co/hc5IQcBEks. #VeChain #CRO pic.twitter.com/FvleVc5yxF
— Crypto.com (@cryptocom) April 15, 2020
Details on VEChain (VET) allocation
Participants in the discounted sale event will be able to partake depending on the amount of CRO tokens staked.
The table below throws more light on the allocation pattern of the VET tokens.
As a word of caution, users are advised to visit the crypto.com syndicate website on listing day. In order to confirm the maximum amount allocated.
To participate in the VeChain sale event, users will need to contribute CRO tokens. Tokens contributed must, however, be in amounts not greater than their maximum allocation benchmark. Even more importantly, users should note that staked CRO tokens will not be accepted as a subscription for VeChain (VET) in this event.
All participants will receive their final VET token allocation at Distribution time.
In the event that the amount gotten for the listing event is greater than the total discounted allocation. Users final VET allocation will be ascertained using the format below
VET trading pairs on the Syndicate platform will include VET/BTC, VET/USDT, and VET/CRO. In addition to this, Crypto.com reserves the right to terminate or review the terms of the discounted sale at any time.
Crypto.com Syndicate platform is open to users all over the world. However, users in China, Hong Kong, and the United States of America are not eligible to participate in the syndicate campaign.
Remember to participate you must first be part of the Crypto.com community. To do this you have to First, sign up on the Crypto.com exchange today. Next stake CRO tokens and you will be eligible to take part in VeChain 50% discounted sale event.
Crypto.com now also accepts crypto applications. Click here to have your digital asset listed on the Crypto.com Syndicate platform.
Last week, India crypto exchange CoinDCX listed the Fintech platform’s MCO tokens. Crypto.com also announced a strategic integration of its payment app Crypto.com Pay with Ledger. And also launched ETH token at 25% off on its Syndicate Platform.