Dear CITEX users,
Due to the contract mechanism characteristic of BOOM, for each on-chain transfer, 1% of the transferred amount will be automatically destroyed. The on-chain transfer accuracy of BOOM is set at 18 decimal places. According to the discussions between BOOM and CITEX, the details of the specific deposit and withdrawal destruction are as follows:
The destruction will occur when users deposit BOOM to users’ wallet on CITEX;
Destruction for top-up: 1% will be destructed for a top-up to CITEX users’ wallet.
When a user deposits 10,000 BOOM to the user’s wallet on CITEX, 100 BOOM will be destroyed, leaving 9,900 BOOM.
To guarantee the safety of assets, the system will carry out destruction when transferring assets to the CITEX wallet; when a user withdraws the coins, destruction will be carried out for a transfer from the CITEX wallet to the user’s address; the CITEX platform will charge a fixed withdrawal fee of 200 BOOM in advance when a user withdraws the coins.
Destruction for withdrawal: 1% for asset transfer to the CITEX wallet + 1% from the CITEX wallet to the user’s address
Withdrawal fee: 200 BOOM
Minimum withdrawal: 2,000 BOOM
When a user withdraws 9,900 BOOM, the CITEX will deduct a fixed transaction fee of 200 BOOM, leaving 9,700 BOOM; when the asset is transferred to the CITEX wallet, 97 BOOM will be destructed, leaving 9,603 BOOM; when the asset is transferred from the CITEX wallet to the user’s address, 96.03 BOOM will be destructed, leaving a final credited withdrawal of 9,506.97 BOOM.
Thanks for your understanding and support!
Feb 19, 2020