AOFEX has always been adhering to the principle of service first, users first, constantly self-review and the upgrade of products and services. AOFEX now decides to adopt serious treatment to SSC token after its fall on debut event, and use the relevant margin to compensate the relevant net loss of users.
As for some users’ rumors that the SSC fall on debut was due to AOFEX's temporary and arbitrary freezing of the project party's margin, which resulted in insufficient market-making funds of the project party. AOFEX hereby declares:
- The rumor is untrue;
- AOFEX signed an agreement with the SSC project party before launching the SSC project in order to ensure the interests of users first. Both parties agreed and decided to freeze the margin of 1,000,000 AQ. If the SSC project does not triggerthe risk control and warning system within one month after the agreement is put into operation, the margin shall be unfrozen.
Therefore, there is no fact that AOFEX temporarily and arbitrarily freezes the project party’s margin, resulting in insufficient market-making funds of the project party.
Tackling methods of SSC project serious trigger risk control and early warning system:
After the risk control warning system is triggered within 24 hours of SSC listing, AOFEX, in order to protect the rights and interests of profitable users, decides not to roll back the data and compensate the net loss users. The compensation scheme is as follows:
- Compensation object: FromMay 21, 2020, (GMT + 8) SSC/AQ listing to 23:00 on 22 May 2020 (GMT + 8) deadline. AOFEX will take snapshots of the remaining amount and the closing price, at 23:00 on 22 May 2020. Users who participated in SSC secondary market trading and produced a net loss (does not contain OTC amount), will be compensated;
- AOFEX will not return the fall on debut margin to SSC project party and the 1million AQ will be used to compensate the net loss users in the secondary market;
- SSC listing event(Celebrate SSC World Debut, 119, 860 SSC is waiting for you) will end in advance at 23:00 May 22, 2020. The reward will be distributed within three working days according to the original announcement.
- Compensation formula :(AQ paid by usersto buy SSC - AQ obtained by usersto sell SSC - remaining position held by users in snapshot * snapshot closing price)/total loss of users * 1,000,000 AQ;
- Compensation time: the compensation will be distributed within 24 hours after launching this announcement, and the detailed compensation list of users will not notice again.
Thanks for the support, trust and company of users all the time. The AOFEX risk control and warning system will soon release 3.0 upgrade version, which will better guarantee the users with the current and later listing tokens.
Digital asset is a high-risk investment product featuring by wild fluctuation, round the clock trading and so on. We highly recommend that users involve and invest very carefully after understanding the rules and risks. It is highly necessary to be aware of the risks by considering the experience and tolerance.
Thanks for your support!
May 22, 2020