Dear Coineal users:
Dividends of 10th FenHongbao will be allocated berfore 23:59(UTC/GMT + 08:00) on Nov 26, 2018 and another round of lock starts at 00:00(UTC/GMT + 08:00). Sequentially, the 11th FenHongbao will come online soon after that.
The rules and instruction are as follows:
1) NEAL FenHongbao refers to users with locked NEAL in their Coineal account will access to dividends proportionately.
There is no limit of subscription quato, each account is able to subscribe for 1000 NEAL - 200,000,00 NEAL, each period lasts for 7 days; dividends will be distributed after each period.
2) Components of dividend asset
① 80% transaction fees generated by trading behavior of platform
a. Any transactions related to NEAL are not included, 100% transaction fees generated by NEAL’s trading behavior will be burnt termly;
b. 20% transaction fees generated by trading behavior of platform will be used to repurchase and burn NEAL.
① In the process of listing new coins or other cooperation with projects, if free tokens are provided, 50% of them will be placed in dividend pool as bonus.
3) Dividends calculation and distribution
Each period of FenHongbao will announce lock time, deadline and locked volume beforehand. Users are able to lock in this period and start to accumulate calculation for daily dividends after lock; dividends will be successively allocated to users after date, it may cause suspension due to network congestion, please wait patiently; dividend yield will be shown in your Asset History.
Most of dividends are available to be traded and withdrawn directly after locked period, a certain amount of tokens airdropped by projects may still need to be locked for a certain time.
4) Unlock during locked period
You have 23 hours to make up decision before every FenHongbao event starts, during this period, you can unlock and reconsider the locked volume, we will return the deducted 5% transaction fees to you next day; after this period, you can also unlock at any time, however, you are not allowed to access any dividends and 5% principal will be deducted as transaction fees for unlock; all dividends will be allocated to the users who finish the whole process; the deducted transaction fees will be burnt termly.
11th FenHongbao relevant time
1. Lock time: 00:00:00 Oct 27th , 2018 (UTC/GMT + 08:00)
2. Deadline: 23:59:59 Oct 27th , 2018 (UTC/GMT + 08:00)
3. Starting time of calculating dividend: 00:00:00 Oct 27th , 2018 (UTC/GMT + 08:00)
4. Dividend allocation time: 23:59:59 Nov 2th , 2018 (UTC/GMT + 08:00)
1. The total supply of NEAL is about 546.3 million, except 215 million NEAL which are purchased officially or locked by team and foundation, there are still 331.3 million NEAL are circulating in the market;
2. The average annualized dividend rate of first 6 days of 11th FenHongbao is 23.56%(calculated by average transaction price of NEAL/USDT from 0:00 21st Oct to 0:00 26th Oct).
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