Syndicate

Every two weeks Crypto.com puts on an event called the syndicate.
It’s only open to users who’ve staked a minimum amount of 10.000 CRO on their Exchange. By staking more CRO you get to contribute a higher amount to the Syndicate. In addition to getting the opportunity to get some coins at 50% off, you will earn up to 20% APR (paid daily) when you stake your coins on crypto.com

I'm just going to inform all of the friendly publish0x members that in 7 days there will be a new Syndicate event.
They will sell Bitcoint at 50% the regular price, so you should try to get a piece of the cake.

How it works

Let's assume the following:

• For an upcoming sale, the total token supply is 100 BTC (“Sale”)
• At the start of the Subscription Period, the BTC:CRO spot price is 1 BTC : 100000 CRO. After applying the 50% discount, the Subscription Price is fixed at 1 BTC : 50000.00 CRO.
• You want to apply 32,000 CRO towards subscribing for BTC in the Sale
• If the Sale is 100% subscribed, the total amount of CRO applied by all Sale participants will be 100 * 50000.00 = 5,000,000 CRO

Example A

Based on the scenario above, let's assume everyone who participated in the Sale applied a combined total of 3,000,000 CRO when the Sale ended. The Sale is undersubscribed. Therefore, your final BTC allocation will be calculated as follows: 32,000 (Your applied CRO amount) / 50000.00 CRO (The fixed BTC:CRO rate) = 0.64 BTC All 32,000 CRO that you contributed will be used towards the subscription.

Example B

Based on the same scenario above, let's assume everyone who participated in the Sale applied a total of 5,000,000 CRO. In this example, the Sale is 100% subscribed. Therefore, your final BTC allocation will be calculated as follows: 32,000 (Your applied CRO amount) / 50000.00 CRO (The fixed BTC:CRO rate) = 0.64 BTC All 32,000 CRO that you contributed will be used towards the subscription.

Example C

Based on the same scenario above, let's assume everyone who participated in the Sale applied a total of 20,000,000 CRO. In this example, the Sale is oversubscribed. Therefore, your final BTC allocation will be calculated as follows: 32,000 (Your applied CRO amount) / 20,000,000 (The total CRO applied by all Participants) * 100 BTC (Total BTC supply for the Sale) = 0.16 BTC

Given the fixed discounted Subscription Price of 1 BTC : 50000.00 CRO, this is the amount of CRO we will deduct from your contributed CRO amount : 0.16 * 50000.00 = 8,000.00 CRO. The remainder, 32,000 - 8,000.00 = 24,000.00 CRO, will be refunded back to your Exchange balance.

 

Although the sales are almost always “oversubscribed” you should definitely try to participate in the Syndicate. I personally have made quite a few bucks with it and with no doubt so can you.

Link to the Syndicate: https://crypto.com/exchange/syndicate/

Don't hesitate to contact me if you have any more questions about the Syndicate or Crypto.com in general! :)