Notice on Bringing Forward the Time of First Income Distribution of TOP.ONE & Buyback of TOPs again and Enabling New Mining Rules
1. ONE will perform the first income distribution ahead of time.
We will take a snapshot of the ONE holdings at 23:59:59 (Beijing Time) on July 2nd 2018, and will distribute the accumulated trading fees from mining zone to be distributed during 15:00 of June 29th 2018 to 23:59:59 of July 2nd 2018 all at once to the holders of ONEs which are snapshot at 23:59:59 on July 2nd 2018 by proportion.
Note: The mining rewards of ONEs on July 2nd 2018 will be issued on July 3rd 2018, and will not be participated in this income distribution.
2. The calculation cycle for mining rewards and income distribution by TOP.ONE are adjusted as follows:
System upgrade is performed from Beijing Time 0:00 AM to 2:00 AM on July 3rd 2018, and from 9:00 AM:
- The income distribution will be taken a snapshot of the holdings of negotiable ONEs every 3 hours (on the hour), and the accumulated income distribution of the previous day will be issued at 21:00 every night. For example, during the period from 9:00 AM to 12:00 AM on July 3rd 2018, the income distribution will be taken a snapshot of the holdings of negotiable ONEs at 11:59:59 and the income distribution of that part will be issued at 21:00 on July 4th
- The mining rewards are calculated based on the average price of ONEs every 3 hours (the total trading value during the 3 hours/the total trading volume during the 3 hours), and the accumulated mining rewards for the corresponding 3 hours of the previous day will be issued at the same period of the next day. For example, during the period from 9:00 AM to 12:00 AM on July 3rd 2018, the mining rewards will be calculated based on the average price of 9:00 to 12:00, and the mining rewards of that part will be issued at 12:00 PM on July 4th
The system will then issue the mining rewards of ONEs obtained during the same period of the previous day after completing the snapshot of income distribution for each cycle.
3. ONE will adjust the date of first buyback for destruction of TOPs to July 4th 2018. The team will allocate the income from ONEs of July 3rd 2018 jointly owned by TOP Community for the buyback for destruction of TOPs. Similar operations will be repeated every day afterwards.
Moreover: Trading and mining in TOP.ONE mining zone are reopened at 4:00 AM on July 2nd 2018.