Important Information about BINCOME on BILLEXC accruals
Please be informed that due to a software malfunction, Basic Income on BILLEXC on February 2, 2021 was only credited to BILLEXC holders who bought BILLEXC at auction.
The accrual amount was calculated using the CENTUSX amount that participated in the auction and was 2% of BILLEXC purchased at the clearing price (1% each for this day and for the missed accrual on Monday).
Moreover, BINCOME tokens were transfered to the same wallets that were recorded on auction (including bounty wallets cleared due to changes in the Bounty Program terms and conditions). As a result, some BILLEXС holders did not receive basic income, others received more, and others were credited correctly. Due to this error, BILLEX holders that purchased BILLEXC on DEX or hold their auction BILLEXC in the wallets which did not participate in the auction were not credited with basic income in BINCOME.
According to the programmers, the failure occurred due to an attempt to remake the algorithm so that it would take into account BILLEXC movements on the participants’ accounts. The attempt failed. As a result, due to an operator error, the very first accrual script was launched, which performed the calculation on the database table that had lost its relevance.
To avoid errors in BINCOME accruals in the future, it was decided to calculate them according to the following algorithm:
1. The BILLEXC amount in the holder’s wallet according to the blockchain snapshot is compared with the BILLEXC amount that was credited to the participant at the clearing price when buying on the exchange. If the amount of BILLEXC on the wallet balance is less than or equal to the amount purchased on the exchange, accruals are calculated at the auction rate. If it exceeds, the amount fixed at the auction is deducted from the amount on the wallet balance, the BILLEXC purhased at auction is calculated at the auction rate, for the rest — at the DEX rate.
2. If the wallet did not participate in the auction, accruals are calculated at the rate for DEX
3. If a wallet that participated in the auction falls out of at least one snapshot of the blockchain for accruing BINCOME, the auction BILLEXCs of this holder are considered discharged, the wallet is excluded from the list of accruals for the auction, and in the future, BINCOME is credited at the rate for DEX to this wallet.
4. BILLEXC movements between wallets belonging to the same participant are not counted; when transferring from a wallet from the auction list to another wallet, further accruals are made at the DEX rate, unless otherwise specified in the project news.
In this regard, if you participated in the auction and transferred BILLEXC to another wallet due to changes in the bounty program, please contact email@example.com with a request to update the wallet in the auction lists before the next payment (by 15:00 UTC Monday 15 Feb 2021).
All participants who, due to this miscalculation, received a lower amount of BINCOME than when calculating according to the algorithm above, will be credited with a missing amount later after re-calculating is completed.
Additionally, these participants will receive 20% of a missing amount in BONUS tokens that can be converted to CENTUS.
Good Luck Everyone!