Forks, airdrops, staking and similar events

Cryptocurrency coins and tokens can use various methods to provide value to their users.

Examples of events:

Forks
A new cryptocurrency is introduced that uses snapshot of the balances of another cryptocurrency. Those who hold balances of the original cryptocurrency may then have balances of both cryptocurrencies.

Airdrops
The cryptocurrency creator offers a once-off or multiple payouts to those who hold balances and meet certain requirements.

Staking
The cryptocurrency creator offers ongoing payouts to those who hold balances and meet certain requirements.

Burns and buybacks
The cryptocurrency is purchased back by the creator and is typically destroyed afterwards, reducing the supply and sometimes growing the value of the coin/token in the process.

 

No guarantee

The Cointree platform supports some events (see below) at its own discretion. If you want a guarantee you will receive any coins/tokens from any forks, airdrops, staking and other similar events, then you must send your coins or token to your own private wallet outside of Cointree.

We understand that sometimes our members are interested in receiving ‘free coins’ from these events and believe they are entitled to these coins/tokens while they are held in their Cointree account, however, this is not the case unless otherwise announced by Cointree.

We encourage our members to actively conduct their own research regarding events for forks, airdrops, staking and other similar activities and take initiative in sending their coins to a private wallet before the event occurs. Please reach out to our support team for assistance.

 

Eligibility requirements

Unless otherwise stated, the minimum eligibility requirements are:

  • Cointree account is verified and is not closed.
  • The account held a minimum of AUD $100 of the coin/token every day during the 30 days.

 

How credits work

At the end of every month, we take the total amount received to Cointree and credit eligible members based on the ratio of that coin/token held by that member during the month. When calculating the credit amount, the lowest daily balance from the last month is used, except for forks which use a snapshot at a point in time.

Credits are generally applied within 10 business days the following month, but may take longer depending on the complexity of the event.

Supported coins/tokens and events

Cryptocurrency Event type Credited cryptocurrency Notes
ONG Stake ONT Started June 2020
NEO Stake GAS Started June 2020
XTZ Stake XTZ Started July 2020

Are we missing an event? Let us know

Supported coins/tokens and events may change at anytime without notice.

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