Leading cryptocurrency platform Crypto.com announced the Polkadot (DOT) listing event. According to the official announcement, Crypto.com exchange will list DOT on 10 November with DOT/USDT and DOT/CRO trading pairs. To celebrate the listing, the exchange will conduct a 24 hours DOT discounted sale event. The event will commence on the same day and offers an opportunity for CRO stakers to buy DOT worth $250,000 USD at 50% off.
Every Crypto.com DOT Syndicate participant must apply some amount of CRO towards the listing event. However, the maximum amount of applicable CRO is capped based on the CRO staked and past 30 days trading volume.
According to the official blog, the following table gives a rough idea about the maximum allocation.
However, to know the final maximum allocation, the participant must check out the syndicate page on the day of listing.
It must be noted that the minimum amount of CRO staking for participation is 5,000. Furthermore, the staked CRO cannot be used to subscribe for DOT in this particular event.
The sale event will commence at 6:00 UTC on 10 November 2020 and comes with a 24 hour long “Subscription period”. After 7 days, the participants will get another 24-hour window to accept the final allocation. This is the “Acceptance period” and it will commence on 18 November 2020.
The participants can get to know about their final allocation amount on the Syndicate details page or they will receive an email notification 7 days after the sale ends. After they receive the details of the final allocation, the participants must accept the allocation amount. Once accepted, the exchange will refund any un-used CRO Exchange balance. The allocation will forfeit in case the participant fails to take any action within 24 hours.
Crypto.com has been conducting these listing sale events frequently. Impressively, the estimated annual percentage yield on CRO for the recent Elrond Gold listing event was almost 68%.
Note: The citizens and residents of the US, Hong Kong, and China cannot participate in The Syndicate campaign.
Over the last couple of months, due to some unfortunate events, CRO price has been dropping continuously. At the time of the press, CRO is trading close to $0.078.
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