Please note important changes in activities regarding RES Token due to requests from the RES project team.
- Discontinuing the RES Lower Price Limit Policy (LPL) from March 15th, 2020
- Change on the existing RES airdrop method (from distributing ETH to RES)
Reasons for discontinuing LPL
The RES project team has implemented LPL from December 15, 2019, for the purpose of sharing the sales profit made from selling the mining machines. However, due to the recent COVID-19 virus outbreak, the project team faced the issue with the delivery of mining machine parts in China, which lead to poor performance in the selling of mining machine. Consequently, the LPL, which was initially intended to share the profit earned from the selling proceeds by RES team, has only caused a negative impact on RES market performance (i.e., poor liquidity, etc.).
Prior to such instance, Coineal had expressed concerns to the RES project team regarding the poor performance of the RES market due to the LPL.
Based on these circumstances, the RES project team requested Coineal on March 5, 2020, to discontinue the LPL, as such, the LPL will be discontinued starting March 15, 2020, to increase market efficiency.
Change Airdrop (from ETH distribution to RES)
Currently, RES project team is running two (2) airdrop events via Coineal exchange.
- Weekly ETH distribution for RES token holders
- Referral program: Compensation of RES token to Coineal RES token holders, who invited new users and marketing invitee to purchased RES
* Airdrop announcement on 16th Dec, 2019 : https://support.coineal.com/hc/en-001/articles/360040078754-RES-Added-Airdrop-will-be-Started-and-Existing-Airdrop-will-be-Modified
Airdrop event is a form of marketing tool used by the project team upon its request. Currently existing RES airdrop provided ETH to the RES token holders. However, due to the request from the RES project team, the distribution method has altered from providing ETH to providing RES token to the holders in hopes of increasing market efficiencies.
Inquiry on the modification
Discontinuation of LPL and the modification of the airdrop method were requested by the RES project team, and as such, all liabilities (including legal and financial) caused by, are responsible with the project team. Please direct your inquiries to firstname.lastname@example.org.
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