The quarterly bonus program is no longer applicable from 31st March 2020
Dear Cashaa users,
Cashaa is going to launch its banking product for personal users and we are happy to announce that the team will be releasing the product details in the coming week.
After launching our business account, we had to work hard to scale our compliance system to provide crypto-friendly banking services to the masses. It took us more than 12 months to build a strong AML and CFT program, which is ready to be sent out to regulators and we are expecting it to be approved in the coming months.
As you all know, 20% of revenue coming from business users was distributed as a gift to the community based on the amount they staked for the particular plan. Going forward, the quarterly bonus reward will be cancelled for new users and staking is entirely for subscribing to the personal accounts as started.
However, this decision does not have any impact on users who had made the staking before 31st March 9:30 AM GMT, all such users will keep getting rewarded until their tokens will get unlocked.
Key points are:
- No quarterly bonus reward for staking done after 31st March 9:30 AM GMT.
- Users who have staked prior to 31st March 2020, will continue to receive the bonus. The snapshot of the total staked token of 31st March is considered as the total token stake until 31st Dec 2020, users will keep getting the reward in the same proportion.
- Staking will continue as it was for the personal product subscription.
- Bonus details for the quarter Jan- March 2020 detail as per plan is updated in the Quarterly reward sheet.
- Token burning of 5% of the revenue from the last 3 quarters will happen soon. Our token burn address is bnb1vzwvxnhshtr59kljyhx9q65dmwdy27yrs49lz2
We will release the personal account details with utility for CAS with robust token economics.
The Cashaa Team
The Next Generation Banking Platform