1. Brief Introduction
Dragon Token (DT) is an ERC20 standard token, issued on November 2, 2017, and when held on the exchange will enjoy dividends shared from the total platform revenues.
2. Mining Methods
DT is mined through means of transactions and are distributed to users based on their transaction volumes. 100% of the trading fees are distributed across the circulating supply of DT and delivered to users according to how much DT they hold.
DT has a maximum supply of 37,339,500. DT circulating supply represents full entitlement to the revenues collected from the DragonEx platform.
3. DT Issued Rules
Since Genesis Block launched, Smart Contracts were issued 3650 times in all, with 24 hours as a interval and 365 times as a cycle.
In the first cycle, DragonEx will issue 51,200 DT. After that, each cycle will issue 50% less than the previous cycle.
51,200 DT are released daily in the first cycle, after that the releasing amount will decrease 50%, compared with the previous cycle.
4. DT Distribution Terms
DragonEx records the daily mining, and each Smart Contract cycle begins from 0:00:00 to 23:59:59 Singapore time each day. After issuing DT in each cycle, DragonEx distribute the new issued DT to miners account the next day according to the mining data.
4.1. 30% distributed to users “Miners” as the following formulas:
- Mined DT = Service Fees Paid by Miners of the day / Platform Revenue of the day * DT Issued of the day *30%
- Service Fees Paid by Miners of the day = Sum of the USDT Converted Value of Service Fees in all orders of the day ①
- Platform Revenue of the day = Sum of the USDT Converted Value of all Service Fees of the day
4.2. 20% distributed to Agents as referral commissions as the following formulas:
- DT distributed to User B = Service Fees Paid by User A of the day / Platform Revenue of the day * DT Issued of the day *20%
(Note: User B registers on DragonEx through an invitation link sent by User A. User A will be considered to be an Agent.)
4.3. 10% distributed to or allocated to Project Partners, which will be blocked for one year for market expansion purposes.
4.4. 40% permanently blocked for future allocation purposes related to R&D, further strategic partner bonuses, and/or for buyback & burn purposes.
Note: The time mentioned above is Singapore standard time (UTC+8)
5. DT Dividends Terms
5.1. Every day, 100% of the trading fees earned by DragonEx are distributed to users according to how much DT they hold.
5.2. DragonEx snapshots each DT holder’s account balance at 23:59:59 every day.
- As the DT minded will be received to the account the next day, the total dividends for each user on that day= snapshot data + DT mined on that day. The dividends will be distributed to holders’ account in the form of Currencies Combination② the next day.
5.3. Dividends Calculated Formula:
- Project Partners Dividends = Dividends gained by trading in USDT trading zone ③+ Dividends gained by trading in other trading zone④ + Others
- DT holders’ Dividends = Dividends* [ The Quantity of DT they hold / (The total DT Issued - The Total DT Burn)]
6. DT Listed Time:
DT was opened to mining and the dividends began to calculate on November 2, 2017.
① USDT Converted Value of Service Fees in the orders = Service Fees in all orders are converted at the last price when a deal is concluded
- For example: Users buy 100 EOS with 0.01ETH when the last price of ETH is 650USDT. The USDT Converted Value of Service Fees in the order=0.01*100*0.002*650=1.3
② The Service Fees in the USDT trading zone will be paid by USDT. The Service Fees in the ETH trading zone will be paid by ETH. And the dividends distributed to holders’ account are in the form of Currencies Combination, that’s USDT+ETH, which will be USDT+ETH+BTC after the BTC trading zone opens.
③ The Quantity of DT users hold / Total DT shared dividends*Platform Revenue in the USDT trading zone ( Dividends are distributed in the form of USDT )
④ The Quantity of DT users hold / Total DT shared dividends*Platform Revenue in other trading zones ( Dividends are distributed in the form of other Cryptocurrencies)