Dear PrixBit members,
For the purpose of protecting valuable PRX holders and to increase the value of PRX, the following changes will be made in order to stop the increase in PRX circulating volume due to the current mining model and to provide more abundant liquidity to each market.
System will be updated at 2019-07-01 00:00
1. Adjust the circulation of PRX
- No more PRX will be issued and PRX circulating volume will not increase due to trade mining.
- PRX paid for the incentive mining fee will determine the maximum value of PRX minable for the day.
- PRX issued : 1,700,000 PRX
- PRX minable : 1,700,000 PRX
- PRX burn: PRX paid as incentive trading fee + unmined PRX of the day
- PRX issued: 0 PRX
- PRX minable: PRX paid as incentive trading fee on the same day.
2. Change of the sharing economy
- The profit sharing revenue is changed from the transaction fee income to the total operating profit of the exchange.
- The default value of the shared resource is 60% with no PRX addition.
- We protect the value of PRX by purchasing PRX in the market with the 60% of profit corresponding resources instead of airdrop.
- PRX is payable as a trading fee as maker, and the commission discount rate remains the same. The discount is 70% when you pay the trading fee with PRX.
(* The last airdrop will be on 2019-07-01 based on transaction fee from 2019-06-30.)
3. Implement liquidity provision through liquidity supply professional trader contract
- Provision of additional liquidity other than trade mining via professional traders and market makers.
- Liquidity providers are subject to commission fee discount, and liquidity providers are excluded from trade mining.