Announcement on the Repurchase and Burn of NBS and NCN in October 2021
Dear NBS Community and Investors,
According to the “Announcement of the China BTS Association on the Official Launch of the Main Net and Airdrop Implementation Rules” on September 13, 2020, and the “Announcement on Determining NBS Inner market Stable Coins, Points and Overall Solutions for Mining” on September 28, 2020, and the” Announcement of the NBS Council on Starting DEFI Referral Mining from January 1, 2021″ on December 31, 2020, and the” Announcement on the Establishment of a Steadily Increased NCN Repurchase Price Mechanism for NBS Inner Market” on April 21, 2021 .
In accordance with the above rules，the processing of repurchased and burnt in October 2021 is as follows:
1. In October, the mining fund account (earth.goat) repurchased 1,7982,000 NCN; The council account repurchased 7,12843 NCN. The above 186,694,43 NCNs were all burnt in accordance with the rules.
2. New pending orders of 4.5 million NBS in the mining fund account (earth.goat) will continue to repurchase NCN at a price of 0.25NBS (because all the pending orders of 0.25 last month were completed, the pending orders will continue to be placed at 0.25 this month).
3. After eliminate the compulsory liquidation fee refund (243091 NBS) from the council account this month, the net income is 545439 NBS. According to the rules, 218175 NBS will be burnt after withdrawal, 218175 NBS pending orders will be repurchased for NCN, and the remaining 109089 NBS were kept in the council account.
In addition, since the price of NCN at the end of this month compared with the end of the previous month, the range of change has reached the threshold for adjusting the reward ratio. To keep the referral reward at an annualized rate of about 10%, the NCN is priced at 0.025 yuan, and the SCNY referral reward for this month is adjusted to 1.1% per day.
Thank you for your support to NBS!
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November 01, 2021