Half a million dollars worth of Pax Gold (PAXG) is going on 50% sale at Crypto.com's Syndicate on 11 August 2020, 06:00 UTC.
How does the Syndicate work?
The Syndicate is a fundraising platform for the most promising crypto projects to list their coins or tokens on the Crypto.com Exchange. Crypto.com Coin (CRO) holders, those who have staked CRO in the Exchange, will receive priority token allocation for these events at a discount.
To find out what the syndicate is about, click here.
For PAXG's listing, you will need to stake a minimum of 5,000 CRO to get an allocation of 3,100 CRO. The more CRO you stake, the larger the allocation given to you. There's an additional requirement of trading US$5,000 on the Exchange in the past 30 days to participate.
What do I need to do?
To enjoy PAXG at 50% off, simply follow the below steps:
- Sign up for a Crypto.com account: https://platinum.crypto.com/r/7fpp30dh8x
By using the above link, you can also earn USD50 if you stake 1,000 CRO or more, on top of 100% rebate on Spotify, Netflix and free Lounge access.
- Log in as a Crypto.com Exchange user (for a step-by-step guide, click here).
- Buy a minimum of 5,200 CRO for the minimum allocation. You will need at least 5,000 CRO for staking, and have an allocation of 3,100 CRO. The minimum allocation will be 200 CRO.
- Stake at least 5,000 CRO in the Crypto.com Exchange account (for a step-by-step guide, click here).
- Use CRO to subscribe for the project token on sale at a discount during the subscription period.
What happens after I stake?
There is a 24-hour period for you to stake. The calculation will happen thereafter and you can accept your rewards in T+2 days. For PAXG's listing timeline, please review the below and the FAQ here.
What should I look out for?
- You may not get 100% of your allocation - even if you stake 3,100 CRO, based on historical syndicates, you will only leverage a portion of your staked CRO to get sale tokens due to oversubscription. The rest will be refunded to you. This may differ as there is an additional trading requirement aimed at lowering oversubscription.
- Why should I stake CRO? - Staking CRO on the Exchange will give you the following benefits:
- If you have staked at least 10,000 CRO, become eligible to participate in the Syndicate’s listing event
- CRO rebate when you pay trading fees with CRO
- 20% p.a. Interest, paid daily
- Why can't I sign up for the Syndicate? - There are some excluded markets due to regulations. For this syndicate, the excluded markets are citizens and residents of the United States, China, or Hong Kong.