What Is BigONE?
ONE is a new token platform that has recently been issued by BigOne. The token total issue is fixed, and it stands at 20billion. It is expected that this number will remain locked until it has all been mined. All the revenue generated through trading fees will be shared by BigOne to all its ONE account holders.
The revenue generation is expected to be carried out as follows:
- 51% community incentives. This will be released on a gradual basis through trade, mining, and being circulated in the market.
- 49% will go to all the big ONE account holders. The release will happen on a gradual basis as well and will be done in line with community incentives. However, this percentage will not be available for trade until June 21st 2022.
All the fees collected from the section known as trade-mining are expected to be a hundred percent rebated into ONE. For the ONE that gets released via the community incentives sections, it will be distributed the following day by 10:00 AM (GMT +8).
You should note that ONEs conversion price is to be calculated based on ONEs current average price in a day. This means that:
ONEs average price equals its total trading value/ the total trading volume
Hold On To ONE To Get Additional Rebate
As noted earlier, a hundred percent of the trading fees from BigONE are to be rebated to all its account holders. This will be done on the following day, and will normally be in the form of different tokens.
Additionally, the total amount of trading fees, which will primarily be in the form of a digitized asset that is received by BigONE is to proportionally be allocated to all people with ONE accounts. This will be based on snapshots taken at 0:00 (GMT +8) every single day.
Allocation formula=total number of ONE held by a user/the total number of ONE that have been released.
Given the limitations that may be present in the system, it is important to note that only rebates that are easily representable by eight decimal points or less are going to be rebated.
How Can You Get ONE?
You can get ONE by taking part in trade-mining. For this, it means that you are automatically granted a ONE that is of equal value to one hundred percent of your current trading fee. This applies to those who are using the trade-mining section.
Alternatively, you can also get ONE by making a direct purchase from other users. This can be done using a number of various digital assets.
You can also get ONE by inviting your friends to sign up on the platform. Whenever a person you have invited takes part in trade-mining, their trading fee becomes a hundred percent rebated into ONE. When this happens, you get to receive twenty percent of that amount into your ONE account as part of an additional incentive.