Alongside the listing, the fintech platform also announced the allocation of $500,000 worth of Kyber Network (KNC) at a 50% discount. According to the official announcement, the listing event is slated to take place on Tuesday, July 21, 2020. Only CRYPTO.COM native token (CRO) stakers are eligible to take part in the discounted sale.
Details on the proposed discounted sale
$500,000 worth of Kyber Network (KNC) has been set aside for the discounted sale. Users will be able to purchase them on the Syndicate platform at 50% off.
It is crucial to note that the number of token users will be eligible to purchase will depend solely on the amount of CRO tokens staked on The Syndicate Lite platform. Also, users will need to ensure that they do not exceed their maximum CRO allocation. The reference table below illustrates the maximum allocation available depending on CRO token staked.
According to the official blog post, trading pairs available for the listing includes KNC/USDT and KNC/CRO. Staked CRO tokens will not be accepted as a subscription for Kyber Network (KNC) during the listing event. If the total amount gotten for the listing event is more than the total discounted allocation, the final Kyber Network (KNC) allocation would be estimated using the formula below:
Source: Crypto.com Blog
Listing Event Timeline
All participants in the KNC listing event will receive their final KNC allocation at Distribution Time. Crypto.com reserves the right to review or dismiss the terms of the discounted sale event at any time.
Source: Crypto.com Blog
Notably, users from most countries are qualified to take part in the Syndicate platform discounted sales event. However, citizens and residents of China, the United States and Hong Kong are excluded from the Syndicate campaign.
Previously, The Syndicate Lite platform has listed several other tokens including ALGO, VET, ENJ, etc.
