The message published by the exchange states that the release of tokens should occur on Friday, March 24th. The total issue will be 50 million pieces. They will have to be distributed equally between XRP and SOLO holders. To participate in the release of xCORE tokens, holders need to have coins on their balance at the time of the so-called snapshot.
Upbit will ban deposits and withdrawals of XRP and SOLO two hours before the start of the event. xCORE is an option token with a strike price of $10 each. In other words, if the specified price is exceeded within the stated period, it can be exercised in the same way as an option on the stock market. In case of default, such derivative financial instrument will self-destruct. At the same time, the last token is native to the first-level blockchain of the Coreum Network, created by the Sologenic Development Fund for the operation of Sologenic, which the XRP registry cannot do.
50M xCORE tokens will be distributed to wallets holding XRP or SOLO at the time of the snapshot.
The development team notes that the optional xCORE token can be exchanged for a CORE token, provided that the latter costs more than $10 for 10 days. Otherwise, the options will expire in 2025 on March 24 at 7 am Moscow time.
Recall that since the beginning of March, prices for individual tokens and coins have been growing rapidly. So the course of the Djed stablecoin at some point even surpassed its competitor, the USDT stablecoin.
Source: Bits
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