Dear WBF Exchange users,
WBF Exchange has compensated the damaged users on November 26, who bought YGC from the platform during 21:18, November 25, 2019 to 10:14, November 26, 2019 (UTC+8). The specific scheme is as follows:
For the YGC sold after buying on the exchange, the loss shall be compensated according to the average purchase price；
For the YGC that has not been sold after buying, plan A: the currency can be withdrew from our exchange;
Plan B: the currency can be sold to the exchange at the purchase price.
For users who deposited YGC to the platform and bought YGC again after selling and made profits, any losses will also be compensated.
In order to help users better understand and calculate their loss, we will calculate compensation according to the total transaction volume of users during the transaction period detailed as follows:
- Transaction amount= transaction price * transaction quantity
- The total amount of DUSD consumed in YGC trading during the transaction period = the first purchase amount + the second purchase amount +...... + the N purchase amount;
- Total amount of DUSD gainedfrom YGC sellingduring the transaction period = the first selling amount +the second selling amount +...... + the N selling amount;
Thus, due compensation = net purchase amount during the transaction = total amount of DUSD consumed in purchasing YGC during the transaction - total amount of DUSD sold in selling YGC during the transaction
Case 1: if user A bought YGC worth of 1000DUSD and did not sell YGC, then user A shall be compensated 1000DUSD.
Case 2: if user B bought YGC worth of 1000DUSD and sold YGC worth of 100DUSD (no matter what price YGC is , the settlement shall be based on DUSD equivalent to the transaction amount), then user B can get 900DUSD (1000DUSD-100DUSD)
Case 3: if user C bought YGC worth of 1000DUSD and sold YGC worth of more than 100DUSD, then the user has obtained the profit of position transaction and the platform does not make compensation.
Case 4: if user D deposited m pieces of YGC and sold x pieces of YGC firstly with traded amount being 1000DUSD, and then user D bought y pieces of YGC with traded amount of 1100DUSD, then the user can get : net purchase amount during the trading period = total amount of DUSD consumed in purchasing YGC during the transaction - total DUSD sold during the trading period =1100DUSD-1000DUSD=100DUSD.
If you have any questions, please consult the official customer service of WBF Exchange.
Cryptocurrency investment is subject to high market risk. Please make your investments cautiously. WBF Exchange as a trading technology service provider does not undertake guarantee, compensation and other responsibilities for user’s investment.
Thanks for your support of WBF Exchange. If you have any questions, please contact our customer service.
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WBF Exchange team
November 27, 2019