On May 18th, during the online Q&A session held by Coin An Media, Coin An co-founder He Yi stated that Coin An does not intend to distribute dividends to BNB holders, and Coin An plans to use 40% of its income as a rebate. BNB holders who recommend new users to Coin An can receive rebates
On May 18th, during the online Q&A session held by Coin An Media, Coin An co-founder He Yi stated that Coin An does not intend to distribute dividends to BNB holders, and Coin An plans to use 40% of its income as a rebate. BNB holders who recommend new users to Coin An can receive rebates. She told the media that as long as she holds BNB, she is the boss of Coin An.
After He Yi announced the BNB commission rebate 40% rule, the BNB coin price began to rise continuously after 18:00 today, with an increase of 23.21%.
The picture shows the price trend of BNB today. Source: coinmarketcap
BNB is a token issued by the Coin Security Trading Platform, with a constant total issuance of 200 million tokens. According to the rebate rules disclosed to the media by the person in charge of Coin An, Coin An will adjust the rebate rules on May 19th at 08:00 am (UTC+8). The rules specify that if a user holds 500 BNBs or more (including account balance, excluding orders and withdrawals), the commission rebate ratio will be increased to 40%. Holders who do not reach 500 BNBs will continue to follow the original 20% rule.
At present, the three major digital currency exchanges in China, namely Jin'an, Huobi and OK, have issued their own tokens.
HT Weekly Price Trend Image Source: coinmarketcap
OKB Weekly Price Trend Image Source: Non Small Account
Recently, the currency price has continued to decline, and BTC has dropped to the edge of $8000 today. In a sluggish digital currency bear market, the prices of OKB, HT, and BNB issued by digital currency trading platforms have risen instead of falling. According to non niche data, as of the publication of the article, BNB ranked 20th in global digital assets with a market value of 189 million US dollars, while OKB and HT ranked 18th and 21st respectively.
Unlike other cryptocurrencies, platform currency generally only circulates on its own platform. Platform coins also have more gameplay options. Taking BNB as an example, holders can use BNB to offset platform transaction fees, vote on coins, and offset "fuel" fees for decentralized platform usage.
For coin holders on their own platforms, all three trading platforms have corresponding welfare mechanisms. OKB takes 50% of the service charge of that week as the dividend of investors holding OKB, while Huobi and Yuan An use the repurchase mechanism to return to the platform currency holders. Before the rules were revised, the Coin An Exchange would use 20% of its quarterly net profit to repurchase BNBs, and the repurchased BNBs would be directly destroyed until 100 million BNBs were destroyed. This is to improve the scarcity of BNB.
The repurchase mechanism provides a hedging mechanism for platform currency, which increases the price of the currency by reducing the amount of circulating platform currency on the market. This will be beneficial for platform currency to achieve value hedging in a bear market. The platform is undoubtedly the biggest winner in this game, as it drives up the coin price and reaps user praise.
|Source: Daily Planet
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