Crypto.com recently announced that Ethereum (ETH) will go live on its Syndicate Lite platform, with users being able to purchase crypto at a reduced price.
The fintech platform did this ad via an official blog. According to the blog, users with a staked Crypto.com (CRO) coin would be eligible to participate in the ETH sale, scheduled for Tuesday, April 14. Approximately $ 250,000 in ETH tokens will be sold on the Syndicate Lite platform. And Crypto.com offers its users a reduced price with 25% reduction on their ETH purchases.
The fintech platform also confirmed the event on Twitter.
📢 It arrives in 7 days – $ ETH will be 25% off The Syndicate Lite🤩
1⃣Sign up for https://t.co/vCNztABJoG Exchange (if this is not the case),
2⃣Game $ CRO, &
3⃣Register at 6:00 UTC on April 14.
Details here – https://t.co/KhQc2iOXIb #ETH #Ethereum pic.twitter.com/fxWAdQFV9E
– Crypto.com (@cryptocom) April 7, 2020
Syndicate Lite Allowance Subscription
Crypto.com explained the event rules on the allocation subscription by stating that user participation would be proportional to the number of CRO tokens wagered.
The table below shows the number of CRO tokens bet and its equivalent maximum allocation.
Source: Crypto.com blog
The blog post further pointed out that users could participate in the ETH discount sale event by providing a number of CRO tokens. However, it stipulated that the given tokens should not exceed the estimated benchmark allocated according to the table. In addition, Crypto.com has noted that it will not accept staked CRO tokens as a subscription to ETH in this event.
Distribution will take place at a specific time so that all participants receive the ETH tokens assigned to them. If the amount obtained for the referral event is greater than the total discounted allocation, the final ETH allocation for any user would be determined using the formula below:
Source: Crypto.com blog
In the blog post, Crypto.com also detailed the terms of service for sales events. He pointed out that thThe Syndicate Lite platform was open to a wide range of global users. However, users in China, Hong Kong and the United States of America would not be eligible for the offer.
Earlier this week, Crypto.com announced the upcoming release of its MCO tokens on the Indian cryptocurrency exchange, CoinDCX. In addition, he unveiled various new offers to mark the integration of his payment application Crypto.com Pay with Ledger.