We’re pleased to announce CoinTiger’s big move:100% equity interest of CoinTiger will be granted for TigerCash(TCH) holders.
Through this big move, we hope to provide a value circulation method that is substantially superior to equity. We hope that a substantial donation of nearly 90% of the existing shareholder interest will inject a powerful dose of energy into the company’s further development. We hope that this reform will create a POW-based equity distribution mechanism that will thoroughly unlock the company’s capability potential.
CoinTiger is currently centralized, where our core team provides continuously upgraded services. Looking forward, CoinTiger will be multi-centralized, where benefits will belong to all contributors.
1. TigerCash(TCH) Profile
Tiger Cash (TCH could be recognized as a symbol) is a platform token issued by the CoinTiger exchange, which is a decentralized blockchain digital asset based on Ethereum. It was officially launched on November 15, 2017, with a total supply of 1.05 billion and 672 million in circulation. Since launch, 50 million TCH have been bought back from the secondary market and burned. Currently, there are a total of 1 billion TCH, which can be viewed through blockchain browser.
2. TCH Introducing An Equity Mechanism
1）CoinTiger Singapore Foundation and CoinTiger Singapore Company have jointly decided to donate CoinTiger equity interest that held by the foundation to all TCH holders, i.e. all interest previously held by the foundation and company in CoinTiger will be jointly held by all TCH holders.
2）CoinTiger will allocate no less than 50% of net profit to all TCH holders every year while cancelling the previous mechanism of “using 50% of profit to buyback and burn TCH”. Currently, the profit structure of CoinTiger is consist of : new coins listing, trading commission, Ticker Capital, Labs, provide one-stop exchange solutions services, provide liquidity management services, etc.
3）TCH holders will be entitled to voting rights at CoinTiger shareholders’ meeting according to the TCH proportion held by them. The specific functions of the shareholders’ meeting are shown in the “Functions and Rules of Procedure of the Shareholders’ Meeting” part.
4）As of the date of this announcement, there are 1 billion TCH in supply (1.05 billion in original total supply, with 50 million burned). After the implementation of the new rules, users who holding more than 1% of the total TCH (10 million TCH) may apply for CoinTiger Singapore Company shareholder change registration. Under the new rules, CoinTiger will change and announce shareholder registration every three months. The latest changing time is on December 31st, 2018. CoinTiger will create a supplemental smart contract which facilitates query of shareholder registration change for TCH holders.
3. Board Governance Structure
1）CoinTiger’s governance will shift from foundation governance to board governance and be subject to the supervision of all TCH holders.
2）The CoinTiger board will comprise 11 natural person members, including 7 TCH shareholder members and 4 community members. The shareholder member and community member will be elected by the shareholders’ meeting and be entitled to all rights available to board members.
a. Shareholder members: The 7 shareholder members will be nominated by the existing CoinTiger shareholders and elected by vote at the shareholders’ meeting. A shareholder member has a term of one year and reelected could be happened. During the term, a shareholder member shall hold no less than 10 million TCH and may not transfer or change their holding.
b. Community members: The 4 community members are recommended by the CoinTiger community and voted by community users. A community member has a term of one year and may be reelected for no more than three consecutive years. During the term, a community member shall hold no less than 10 million TCH and may not transfer or change their holding.
3) Given that term of the first executive board will expire soon, the new rules adopted this time will apply to the second and subsequent executive board. Member election and determination for each board will be announced in accordance with the new rules.
4. Additional Terms and Conditions
1) CoinTiger Singapore Foundation holds 12% of TCH, which will be released by 20% annually for five years in accordance with the white paper. After the current adjustment, the foundation voluntarily extends the lockup period to eight years and locks up the TCH released for the first time for one year.
2）The management (director and higher position) and governing board members are required to hold TCH no less than the minimum holding requirements during their term of office. When they no longer hold their positions, they may trade their shares freely, an relevant announcement should be provided at least two weeks in advance. The announcement shall include the percentage and quantity of the shares sold, price range and purpose, in a format to be specified separately.
3） TCH holders could register for dividend after the authentication on CoinTiger (Voting right will not be affected).
4） A shareholder that holds 5% of TCH or more shall give a prior announcement if she/he wants to sell, unless they did not voluntarily become a CoinTiger shareholder. The relevant announcement will be announced separately.
5）The governing board will review the financial budget and profit distribution plans of CoinTiger annually.After the plans are adopted, the governing board will submit them to the shareholders’ meeting. No less than 50% of profit shall be distributed annually, with the dividend-paying coins including mainstream coins such as BTC and ETH,etc. CoinTiger shall disclose its operating status at least once every half year.
6）A CoinTiger supervisory board staffed by hired community users will be established to exercise supervisory management, and external third-party organizations will be invited to perform review and assessment.
7）CoinTiger is committed to build an efficient self-regulatory organization with open governance, transparent finance, comprehensive rules, clear accountability and community supervision.
5. Functions and Rules of Procedure of the Shareholders’ Meeting
1）To determine CoinTiger’s operation strategies and major investment plans;
2）To elect and change executive board members and determine the remuneration of executive board members;
3）To deliberate and approve executive board reports;
4）To deliberate and approve the annual financing budget and final settlement plans of CoinTiger;
5）To deliberate and approve the profit distribution and loss recovery plans;
6）To modify regulations for corporation;
7）Other functions relevant to corporation regulations.
6. Functions and Rules of Procedure of Executive Boards
1）To organize and report to the shareholders’ meeting;
2）To implement the shareholders’ decisions;
3）To determine CoinTiger’s operation and investment plans;
4）To adopt resolutions on the annual financing budget and final settlement plans of CoinTiger;
5）To adopt resolutions on the profit distribution and loss recovery plans;
6）To adopt resolutions on registered capital increase or decrease as well as company bonds issue plan of CoinTiger;
7）To adopt resolutions on merger, division, dissolution, liquidation or change of corporate form of CoinTiger;
8）To determine the setting of the company's internal management;
9）To determine the appointment or termination of the Company's managing director and his/her remuneration, and to decide, according to the nomination submitted by the managing director, on the appointment or termination of deputy managing directors and head of finance and their remuneration;
10）To adopt resolution on the basic regulations of CoinTiger;
11）Other functions according to CoinTiger regulations.
7. TCH Allocation Plan
8. TCH Addresses In Details
9. Track Record
Since CoinTiger launch on November 15, 2017, it has continuously iterated with steady upgrade and now has an increasingly mature ecosystem comprising web, iOS and Android clients application and comprehensive exchange services including crypto currency trading , Ticker Capital, Labs, IEO , and voting for listing program. Currently, CoinTiger users have topped 1.1 million and are from more than 40 countries and regions in Asia, North America, Africa and Europe.
1）Exchange Services: So far, CoinTiger has launched four markets (BTC, ETH, BitCNY and USDT) with 80 trading pairs and an average daily turnover of US$ 45–60 million, ranking among the top 30 on CoinMarketCap.
2）Ecosystem Building with BitShares: Since its launched, CoinTiger has been committed to the development of BitShares ecosystem. Among others, it has launched BitCNY market and joined the SPRING Fund to make BitCNY and BTS with better liquidity. CoinTiger has grown into the largest exchange in terms of BitCNY trading volume and has been embraced by many new users because of this.
3）Ecosystem Fund: In April 2018, CoinTiger established its own ecosystem fund which specializes in blockchain equity investment and token investment and has invested in first-tier projects including Perlin, RSK, BKBT, Mytoken, Lianyixia, Carry, Carblock and Cocos BCX. Currently, Ecosystem Fund has covered investment in early-phase blockchain projects, investment banking, project consulting and incubation and extended its reach to more than ten countries in North America, Southeast Asia and Europe.
4）CoinTiger Labs: CoinTiger Labs is committed to serving blockchain projects throughout their lifecycle and helping blockchain projects with in-depth incubation and a full range of services such as consulting, strategic planning, compliance support, token model design, financial advisory, liquidity management, and marketing & operation guidance. It will grow with blockchain entrepreneurs by helping them deliver value and exploring a new future of blockchain economy. So far, CoinTiger Labs has incubated well-known projects such as TCT, BCG and MockingBot.
Credit is assets. With a better credit comes a more orderly process of asset creation. As an exchange that serves as a core node of orderly credit expansion in the crypto world, CoinTiger will build a hybrid multi-category asset exchange based on TCH.
1）CoinTiger will introduce a third-party and audit mechanism like DAICO to provide greater openness and transparency;
2）CoinTiger will provide a one-stop exchange solutions, sharing trading liquidity with other exchanges;
3）CoinTiger will launch more financial products or derivatives to meet more diversified needs of investors;
4）CoinTiger will launch TCH market and create a centralized exchange based on CoinTiger Labs and Ticker Capital as well as a CoinTiger hybrid multi-centralized exchange;
5）CoinTiger will create its mainnet and swap TCH to it for registration and settlement of new crypto assets.
11. Additional Information
1）TCH can be bought via CoinTiger crypto currency trading or OTC trading (upcoming). All TCH holders have the same rights and benefits.
2）As crypto asset, TCH has no reduction in token properties and benefits; and the CoinTiger equity interest offered by the foundation is shared among all TCH holders.
3）TCH holders can register as shareholders through: https://jinshuju.net/f/XSBTy0.
4）Detailed rules regarding the shareholders’ meeting, election of executive board members and other matters will be announced separately.