Dear Bgogo users,
Bgogo will be adding a new “Proof of Stake” based point system to the platform. The platform will develop a quantifiable scoring system to calculate points based on time and amount of holdings and time. Privileges for future events will be determined by an individual user's score.
As of September 16, 2018, the Bgogo platform has taken daily snapshots of every account’s BGG holdings to record a daily average.
BGG HODL Points (BGG HP) is a score based on weighted BGG holdings that appreciate 1% each day to emphasize the value of the BGG holding period. The longer the user holds BGG, the higher their BGG HP.
Note: All future platform activities and allocations will be based on the BGG HODL Points system.
BGG HODL Point formula:
BGG HODL Points = BGG Holding + (BGG Holding × 1% × Number of Days Held)
Jane bought 100 BGG on Day 1 and held it for one full day. On Day 2, her BGG HP increased to 101. On Day 3, Jane sold all of her holdings (100 BGG). As a result, her BGG HP reverts to zero. If the Jane decides to purchase BGG once again, her BGG HP will restart from the date of purchase.
Below are more illustrated examples:
Example 1 : A user purchases 100 BGG on Day 1 and holds it for five days. The daily increase in BGG HP is as follows:
Example 2: A user buys 100 BGG on Day 1 and sells 50 BGG on Day 3.
Example 3: A users buys 100 BGG on Day 1 and 200 BGG on Day 2. Then the user decides to sell 250 BGG on Day 3 (most recent BGG HP added will be deducted).
For the Community,