Crypto.com’s The Syndicate platform is about to carry out yet another discounted sale event. This time around NEO token is set to go live on the platform.
During the discounted sales event, CRO stakers will be able to purchase NEO tokens at half its usual price. Scheduled to go live on Tuesday, 28 July 2020, The Syndicate platform has set aside $500,000 worth of NEO tokens for the discounted sales event. However, it is important to note that only Crypto.com native token (CRO) stakers are eligible to take part in this event.
Details of the Listing Event
The Syndicate Lite platform has set aside $500,000 worth of NEO tokens for the event. CRO stakers will be able to purchase them at a 50% discount. It is important to note that the number of NEO tokens users will be able to purchase is totally dependent on the amount of CRO staked on the platform. However, users will need to ensure they adhere strictly to their maximum CRO allocation.
The table below shows the maximum allocation available to users depending on stake CRO.
Notably, trading pairs supported during the discounted sales event includes NEO/USDT and NEO/CRO. However, already staked CRO tokens will not be viewed as a suitable subscription for NEO tokens during the discounted sale event.
Supposing that the total amount gotten for the listing event exceeds the total discounted NEO tokens, the final allocation will be calculated using the formula below:
Listing Event Timeline
Users will receive their allocated tokens at distribution time.
Crypto.com reserves the right to cancel or amend the term of the discounted sales event.
The Syndicate platform is opened to interested users from most countries. However, residents and citizens of the United States, China, and Hong Kong are prohibited from taking part in the Syndicate program. The fintech platform is currently accepting digital asset listing applications.
The Syndicate campaign is steadily gaining traction. It has recently listed several tokens like Algorand, ENJ, KNC, and VET.