text: Details of Trading is Mining
  The iquant team decided to destroy 5 billion IQC in the total IQC circulation, while the IQC Chinese community volunteers agreed to destroy the 100 million IQC held by the community to support the sustainable development of IQC.After that, the remaining 4.1 billion IQC will be released in 18 months.The upgrade excavation will start at Beijing time (UTC+8) 00:00 on October 1, 2018. At the same time, the change of IQC\USDT will start at 12:00 on September 30, 2018. The minimum order unit is 0.002 USDT and the minimum change unit is 0.0001USDTMining will be suspended and IQC\USDT trading will open normally.Specific mining rules are as follows
  Ⅰ.Release rules
  A total of 540 releases will be performed, with a 24-hour interval and a cycle of 120 releases.Releases per cycle are as follows:
  Total 4.1 billion
  (IQC)
  11388888\day
  1.435 billion
  7972222\day
  615 million
  3416666\day
  Ⅱ.Mining methods
  All IQC can only be produced in the form of "mining", the only way to mine is to trade in the platform mining zone. Miners (i.e. platform users) contribute to the platform through trading , and the platform awards IQC to miners. The specific formula for mining is as follows:
  Personal mining income = personal contribution fee on that day / total platform fee income on the same day * number of IQC released on the same day
  Personal contribution fee on that day = sum of the USDT conversion value of the fee generated by each order made by the individual in the mining area on that day
  Total fee income of the platform on the same day = USDT conversion value of the handling fee generated by the platform in the mining area on the same day
  Ⅲ.Holding the IQC dividend rule
  Iquant will take out 70 percent of the transaction fees to the IQC holder for the platform mining transaction and 20 percent to buy back and destroy the IQC,10% to support the development and operation of the platform.
  1. Terms of participation: no less than 1000 IQC;
  2. Dividend distribution: the coin of the platform mining transaction to the mining area income shall be distributed according to the proportion of IQC in user's position (IQC in possession/IQC in general circulation)
  3.Calculation rules:Beijing time (UTC+8) : from 1pm to 24pm daily, a snapshot of users' IQC holdings will be taken every hour (on the hour), and 70% of the total fee generated by the platform in the past hour will be calculated according to the proportion of users' IQC holdings in this snapshot, and issued by the hour.And it will be issued every hour (the number of IQC on the pending sales order is not included in the dividend);
  Ⅳ.Buyback and burnout system
  1.Use 20% of the daily transaction fee for buying back and destroy IQC.
  2.IQC buyback and burnout conditions.
  (1) If the IQC price drop on the day is 30% lower than the previous day's IQC price (the previous day's IQC price is based on the 24-hour average price), the buyback and burnout operation will not start, and 20% of the handling fee on the day is cumulative.
  (2) If the IQC price drop on the day is 30% higher than the previous day's IQC price (the previous day's IQC price is based on the 24-hour average price) , the buyback will start until the IQC price returns to more than 30% or the buyback funds are all used.
  (3) If the cumulative decline of IQC price for more than 30 days has exceeded 30%, and the buyback and burnout will start until the IQC price returns to more than 30% or the repurchase funds are used.
  3. The website will publicly use the buyback funds and the remaining situation.
  V. We will cancel the invitation and reward policy and the difficulty plan after the upgrading starts.