Unsold Token Distribution by PoS starts from 5 June
Dear Community members,
Amendment on 5th June, 6.30am BST: Considering the safety and security measures of all our token holders, we are giving additional 72 hrs (after 5th June 12:00 BST) to prove your stake, until 8th June 12:00 BST.
We have successfully closed the token distribution process, and we have managed to become an example for the industry, with our compliance standards. As you know, we rejected 14.77 Million USD and we have decided to distribute to the community the 192 Million CAS got available (unsold token), on the 5th of June, based on Proof of Stake (PoS).
As CAS is an utility token and the Cashaa product is expected to be launched in the last quarter of 2018, we decided to have PoS to reward the community for their patience and support. We have decided that these tokens will be given to the community in the ratio of every token distributed during the token sale including the bonuses.
Any CAS holders who will be able to prove their stake will be awarded tokens in the ratio of 0.7 CAS for each 1 CAS in their ERC 20 address, based on the balance as on the 5th of June, 12 noon BST.
Why 0.7 CAS for each 1 CAS ?
In December 2017, we made 510 Million tokens available for the token sale, out of which 318 Million tokens were distributed to the token sale participants, who fulfilled our compliance requirements. Out of the 318 Million CAS distributed, 44 Million were sold during our private sale, which are not included for the PoS distribution. The 192 Million unsold tokens will be distributed to the holders of the remaining 274 Million tokens, which results in a ratio of 70%, hence for every CAS token held, you will be rewarded with 0.7 CAS.
Amendment on 4 June, 5.30pm BST as per legal and tax advise: The equal distribution will be done by the company to all the owners of CAS holders proportionately. So anyone who will register and prove the ownership on or before 5th June 12:00 GST will be rewarded 0.7 CAS for each CAS they own. This will not impact the number of tokens received by the holders, all the extra tokens required due to this amendment, if any, will be allocated from company tokens (not part of the 192 Million CAS).
How will it complement the loyal token sale participant of the Cashaa community?
The Public Token sale participant on an average received 52.5% bonus. For every token purchased you received 1.52 CAS, and on the 5th of June you were expecting to receive 1.03. But now you will get rewarded also on your bonus, so 1.52 *0.7= 1.06.
Hurray additional 0.03 CAS for our early members!!!
How will it complement the new members who joined us through exchanges?
For every CAS Token you hold you will get 0.7 CAS Additional tokens.
Please read carefully the following guidelines to make sure you receive the correct PoS bonus:
1. Your stake will be calculated based on the CAS balance in your registered wallet address on the 5th of June at 12:00 PM BST. To receive the reward CAS you must hold your CAS in an ERC 20 wallet and not on an exchange.
2. You can increase your stake by transferring more CAS in your registered ERC 20 address up to the 5th of June 2018.
3. If you have distributed your tokens in some other addresses, we strongly advise you to consolidate it all in your ERC 20 address registered with Cashaa.
4. In order to calculate the bonus tokens, you have to show the Proof of Stake. We will see the number of tokens linked into your Cashaa account (i.e. your registered address). You can update your registered ETH address by entering into you Cashaa account, starting from the 1st of June 2018.
5. You can utilize the services of our newly launched OTC exchange to buy more CAS tokens and maximize the number of tokens for PoS. Please also check our list of exchanges that we are currently listed on and where you can purchase CAS: https://cashaa.com/exchanges.php
6. If you have bought CAS only from an exchange, and not during the token sale, then please create an account at https://cashaa.com and provide a valid ETH address for PoS (Proof of Stake). Last date to participate in the program is the 4th of June 2018.
7. Your PoS reward will be distributed monthly in equal proportions for the next 7 months. Ex: If You have 1000 CAS on the 5th of June, your potential reward is 700 CAS, distributed in 100 CAS each month for the next 7 months (given the stake of 1000 CAS doesn’t decrease), the last distribution will occur on the 5th of December 2018. The token balance after the first distribution will be 1,100 CAS.
8. Your PoS reward will be calculated on the 5th of each month and will be adjusted based on the CAS available on your registered wallet address. Ex: If in the next month, the user sells 200 CAS tokens out of the 1,100 CAS, this will decrease his stake. His reward for the second month will be calculated based on the 900 CAS and his reward will be 90 CAS for the consecutive months (given the stake of 900 CAS doesn’t decrease). The token balance after the second distribution will be 900 (stake) + 90 (second month reward) = 990 CAS.
9. The CAS reward deducted from the PoS participants, who will sell their stake over time, will go to the “Cashaa escrow” and will be distributed, in the ratio by PoS on the 5th of January 2019. For the above example, the 10 CAS taken from the users will be sent to the escrow. The address will be made public for the community to track these tokens on Etherscan.
10. The number of participants and the Max stake reward will be locked, and can’t be changed after the 5th of June 2018, 12:00 BST
Please note that in order to be eligible for this token distribution, you have to registered on cashaa.com and have a valid ETH address (for PoS) added to your Cashaa account before the 5th of June. In case either one is missing, please hurry up and complete the process.
The Cashaa team is working hard to ensure the welfare of our community and to offer the best use advantage of our Cashaa Tokens. Hurry up and take this great opportunity to buy more CAS Tokens and to maximize the amount of your tokens before the 5th of June to claim your stake reward from Unsold tokens.
Please read the FAQ’s related to PoS CAS Token Distribution.
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Regards,
Team Cashaa
The Next Generation Banking Platform for The Next Billion
