Users can now purchase the Band (BAND) token at a 50% discount on the Crypto.com exchange, which will be listed at The Syndicate event. The event is yet another of Crypto’s.com successful Syndicate offerings – which we’ve covered in the past.
BAND has been listed on the Crypto.com exchange under their signature Syndicate event. Users who wish to buy it before its listing must subscribe to the event and avail of a 50% discount on the allocated amount of the Band token.
What is Band?
Band Protocol is a cross-chain data oracle platform. With the aim of aggregating and connecting real-world data and APIs to smart contracts, Band Protocol provides a secure, blockchain-agnostic, decentralized oracle framework for Web 3.0 applications. It effectively creates a trusted information bridge between the Web 2.0 and the Web 3.0 of the future by connecting smart contracts with trusted off-chain data and ensuring the integrities through token economic incentives.
How the BAND Syndicate Works
The Syndicate event shall commence on Oct 06, 2020 on the Crypto.com Exchange. BAND shall be listed on the Crypto.com Exchange on the same day with the following trading pairs: BAND/USDT and BAND/CRO. All Crypto.com Coin (CRO) stakers shall be able to take part in the discounted sale.
Exchange users can participate in The Syndicate event by staking at least 5000 CRO. The staking duration is 30 days. Users also need to subscribe to CRO tokens to get the allocation of discounted BAND.
- At the time of subscription, the price rate is 1 BAND = 41.52 CRO
- After availing 50% discount, users get 1 BAND at half price = 20.7600 CRO
- Based on their limits, users will apply CRO while subscribing in the sale.
- In case the sale is 100% subscribed, the user will get equivalent BAND tokens. If it is oversubscribed, the unused CRO tokens will be refunded, and users will receive the tokens on a prorated basis.
Staking and Maximum Allocation
Each user’s maximum allocation of will depend on their CRO staked at the subscription time.
|CRO Staked||Indicative Max Allocation|
|5,000||$500 USD (4,000 CRO)|
|10,000||$1,000 (7,000 CRO)|
|50,000||$2,000 USD (14,000 CRO)|
|100,000||$5,000 USD (35,000 CRO)|
|500,000||$15,000 USD (103,000 CRO)|
|1,000,000||$25,000 USD (171,000 CRO)|
|5,000,000||$100,000 USD (681,000 CRO)|
|50,000,000||$200,000 USD (1,362,000 CRO)|
The total allocation is $500,000 USD worth of BAND. In case of oversubscription, which regularly occurs, the enclosed formula can be useful to calculate final allocation on a prorated basis:
The exchange will decide the user’s final distribution 24 hours after the end of the subscription period. Users will have the option to agree or reject once the final allocation is confirmed, after which the un-used CRO will also be refunded to your balance in the Exchange.
How to Subscribe to the Band Syndicate
Step 1: Hit the Subscribe Now Button on the Syndicate Page
Step 2: Allocate the CRO tokens you wish to subscribe with. You can also click on Max and it will automatically fill the maximum possible subscription value for you.
Click on Review Subscription once all values are entered.
Step 3: Confirm your subscription.
We will update this post with final allocation details. You can also join the exchange and participate in the Syndicate yourself.
Offer for New Users
All new users on Crypto.com/Exchange receive 90 day fee free trading in CRO tokens. Use this link to create an account on Crypto.com app and receive $50 reward. Sign up on Crypto.com exchange using the app to benefit from both rewards.
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