CSO #6 Successfully Completed
Greetings CrossFi family!
We are beyond pleased to announce that CSO #6 was another successful entry to the collection.
After the Round #5 of the CSO event that was held on 10 May, 2022, which apparently led to the total distribution of 940 Filecoins, It’s with great delight that we announce that CSO Round #6 was another successful entry to the collection. The event which took place yesterday being 10 August, 2022, at exactly 20:00 (UTC+8 Singapore Time) oversaw the total distribution of 960 Filecoins.
Here are the statistical recordings from CSO #6:
- A total of 960 FILs (Filecoins) were stipulated for the event and they were all distributed. A cumulative summation of Limit- 240 FILs and Unlimit-720 FILs
- A total of 222,909 CRFIs were burned
- The Limit swap exchanged 51,837 CRFIs
- The Unlimit swap exchanged 155,520 CRFIs
- The burned CRFIs included 15,552 CRFIs charged as Participation Fee in the Unlimit swap
- The Swap Ratio set immediately before the event was 135:1
Verification of the CRFI burn can be done at these incineration addresses:
0x637ade40aadf1451258fd73a025659b8851cb3842720073d2f31ea0960548ae4
0xed60f1df6a4191cf4e74dc43dd27f0df0a21de9d868b33896b44d9640ecc108b
All 960 FILs in the pool were utilized. Had it been the event was in anyway less successful and consequently gathered unclaimed Filecoins, the remainders would be compounded into the pool for CSO #7, therefore an entirely new pool will be created for the coming round.
Notably, the swap pool was sponsored by 5% of revenue generated by CrossFi Borrow. This means that the higher the popularity of CrossFi Borrow, the bigger the Filecoin pool for the next CrossFi Swap Opportunity. CrossFi is a built-in feature of CrossFi DApp that allows users to borrow cFIL (Filecoin) using sFIL as collateral. You can learn more about the feature here.
Please refer to the CrossFI Whitepaper for details on what CrossFi Swap Opportunity (CSO) entails: How Does CSO Work?
We prolly hope you enjoyed and gathered profits from the 5th CSO event. More opportunities are on the way. Stay tuned.
CrossFi is a cross-chain protocol that provides liquidity for Filecoin staking and rewards.
CrossFi Official Website: https://crossfimain.com
CrossFi DApp Address: dapp.crossfimain.com
CrossFi Official Twitter Account: https://twitter.com/globalcrossfi
CrossFi Official Discord Group: https://discord.gg/UKGSX3VBY3
CrossFi Official Global Telegram Group: https://t.me/crossfimain_en
