Dear VEGA NFT Owners,
One year has passed since the initial introduction of the VEGA NFT. This pioneering non-art NFT is distinguished by its technical sophistication, which has granted its owners the exclusive and distinct rights to mine Core Coin (XCB) on the Core Blockchain, along with ownership of the Core Token (CTN).
The first mined XCB was paid to the XCB HODL Pool on 9/26/2022, a collective pool of rewards in a steady production of coins with a cumulative hashing power of 1.5 Mh/s.
In accordance with the initial contract, as the current year draws to a close and the VEGA NFT approaches its expiration, the anticipation of the final payouts heightens. Beginning shortly, the XCB and CTN rewards will be sent to your specified wallets.
Read on to find out the conditions and instructions for the distribution.↘️
An Amazing Performance💥🚀
The performance has met and exceeded expectations in its yearly run, resulting in selling out all the 2,000 pieces of this unique technical non-fungible token.
Some note-worthy statistics entail a collective reward of more than one million XCB mined in the XCB HODL Pool, with the numbers still growing as we speak. The collective reward will be distributed among the owners along with the 2,500 CTN reward.
Moreover, the asset’s valuation has seen an impressive surge of 73.7%, ascending from its initial price of 650€ to 1129.2€.
With this amazing performance, we are now entering the distribution stage.
The Distribution💫
The distribution of VEGA NFT rewards will be initiated once both the CorePass ID application and the Ping Exchange platform have officially been launched.
Given that the application and the platform have not been released thus far, proper mechanisms for compensating for the slight delay have been put in place. As the rewards are tightly locked in the XCB HODL pool, as per the initial contract, the management has decided that the NFT rewards keep being paid out until the eventual day of the launch, resulting in a higher amount of mined XCB per owner. The Core Token portion of the rewards shall, likewise, be paid out upon the platforms’ release.
Once the platform release date has been officially announced, which should be in the coming weeks, the VEGA NFT holders will be informed of how to claim the rewards through the Ping Exchange, with a step by step walkthrough of the process.
A Change in Trading Options (NFT as a security)❌
We believe you are aware that, over the past year, in a few selected jurisdictions, there have been notable shifts in global crypto and NFT trading regulations. For the sake of the safety of the Ping Exchange and its license, we have decided not to trade the VEGA NFT on the Ping Exchange with specific consideration to our community and any other participants in the project.
As a consequence, due to regulatory, compliance, and legal opinions, the non-fungible token will not be accessible for trading on the Ping Exchange and will not be featured on the platform.
The rationale arises from the fact that selected jurisdictions categorize NFT assets as securities. In adherence to the most current regulatory framework, the exchange is presently unable to list this type of asset.
Therefore, in order to mitigate any potential risks to both the exchange and its users, a decision has been reached to revise the initial trading conditions for this asset and disable the option for trading. This does not, however, apply to the unbundled XCB and CTN that the NFT owners will receive. The two Core Blockchain currencies shall be tradable freely as soon as the rewards are released.
Final Words✅
The release of CorePass ID and Ping Exchange is on the right track, having successfully met all regulatory prerequisites and achieved full compliance. The final preparations for the release are currently underway.
Upon the platform’s debut, VEGA NFT distributions will be promptly facilitated according to the steps that will be provided to the VEGA NFT holders.
Thank you.
Bullish
