💸Settlement Rules
About Settlement Time
At the time of the Token Generation Event (TGE), the quantity of Points will be converted into the corresponding tokens.
Payments occur within 24 hours from the time of the TGE. We will count down when the project lists its token on the first exchange.
Success in Perform Settlement
Both parties must perform the settlement to complete the order.
Seller:
Tokens must be transferred before the settlement deadline at the conversion rate corresponding to the number of Points.
Upon completion of the transaction, the seller receives back their collateral and the buyer's settlement funds.
Buyer:
Must continue to deposit the remaining payment into the contract to complete the transaction.
When the transaction is complete, the buyer receives tokens from the seller corresponding to the number of Points.
Failure to Perform Settlement
If the seller does not perform the settlement:
The seller will lose all collateral.
The buyer will receive back the collateral and compensation equal to the buyer's collateral amount, after deducting the transaction fees for both parties.
The asset the buyer receives = 2 × Buyer's collateral - 4% × Buyer's trading volume.
If the buyer does not perform the settlement:
The buyer will lose all collateral.
The seller will receive back the collateral and compensation equal to the seller's collateral amount, after deducting the transaction fees for both parties.
The asset the seller receives = 2 × Seller's collateral - 4% × Seller's trading volume
If both the buyer and the seller fail to perform the settlement:
The buyer receives: Collateral - 2% transaction fee - 0.5% refund fee
The seller receives: Collateral - 2% transaction fee - 0.5% refund fee
Notes: If the token listing schedule is delayed or canceled, please refer to our FAQs.
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