Dear CITEX users:
For purpose of safeguarding the overall and long-term interests of CTT coin holders, the recent CTT burn and release plan and adjustment of CTT staking and buyback-burn rules are as follows:
In order to accelerate CTT deflation and reduce the total CTT quantity, 30% of the uncirculated CTT of both “community and operation” and “team” will be burned on January 20, 2020, including 137105598.95CTT of “community and operation” (position of “community and operation” was 457018663.16 by December 31, 2019,) and 48000000.00CTT of “team” (gross position of “team” was 160000000.00CTT by December 31, 2019). This time, 185105598.95CTT in total will be burned and after burning, the total quantity will be 561781853.05CTT.
In order to finish the construction of the CTT deflation economic model as soon as possible, according to CTT release rules, since November 14, 2019, CTT to be released held by “early investors” will be released every day linearly in an equal quantity in the next two years, and CTT originally to be released linearly by “early investors” during January 20, 2020 and January 19, 2021 will be released in advance together on January 20, 2020. CTT originally to be released linearly during January 20, 2021 and November 12, 2022 whether will be released in advance or not will be decided based on the reality and the basic goal of maintaining the overall and long-term interests of community users.
According to CTT release rules, since 2019, 10% of the total CTT circulation will be released at the end of each year till the gross position of CITEX Team, 112 million CTT (after the burning this time) are all released. By December 31, 2019, the total circulation was 83782313.00CTT, therefore in 2019, the released quantity of “team” was 8378231.30CTT, and the release will be performed at the end of this month.
To accelerate CTT deflation and speed up the buyback-burn, original CTT staking and CTT buyback-burn rules that 65% of the one-click mining income and 10% of the commission income of spot crypto-crypto transaction are used for CTT staking and CTTD coin holding dividend, and 70% of the commission income of spot crypto-crypto transaction is used for CTT buyback and burn are adjusted since January 19, 2020 to the rules that 65% of the one-click mining income will be used for CTT staking and CTTD coin holding dividend, and 80% of the commission income of spot crypto-crypto transaction will be used for CTT buyback and burn.
Thank you for your support to CITEX!
English Telegram: https://t.me/CITEX_EN
January 18, 2020