|USER||An individual who registers on XDAT.io and completes Full KYC|
|NODE||A USER who completes Full KYC, adds at least 5 other USERs who achieve cumulative trading of €1000 amongst them.|
|REFERRED-USER||A USER who is added on XDAT by a NODE|
|SUB-NODE||A REFERRED USER who becomes a NODE|
|PARENT-NODE||The preceding NODE to a SUB-NODE|
|KYC INCENTIVE||Incentives received for completing Full KYC. Refer to incentive table|
|TRANSACTION INCENTIVE||Incentive received when trading is done on XDAT. Refer to incentive table|
|NATIVE TOKENS||These Tokens shall be generated at Token Generation Event and the rewards in EUR will be converted into the token equivalent. EUR equivalent tokens shall be released with the whitepaper.|
2. What is the intent behind the Bullwhip Movement?
The Bullwhip Movement has been launched to create a new wave of crypto adoption amongst USERs on XDAT. We envision to create a ripple effect as our primary step to fulfill “CRYPTO FOR ALL.” We want to initiate a positive whip of adoption that leads to an amplified nature of adoption and trading.
Bullwhip Movement: Phase 1, is our first step to facilitate crypto for the masses.
3. Who can become a NODE?
Crypto traders, crypto enthusiasts, believers, or individuals who know potential crypto traders.
Nodes are our endorsers, who will propagate the movement by adding new users and enabling trading on our exchange.
4. How to become a NODE?
1. Register on XDAT.io and generate referral link
2. Whitelist as a NODE
3. Complete Full KYC to receive €10
4. Add 5 or more USERs (with generated referral link) on XDAT who complete Full KYC and start trading.
5. Encourage referred USERs to trade.When a cumulative trading mark of €1000 is reached amongst your
referred USERs, you will receive XDAT Community Token (XCTY), officially declaring you as a NODE on XDAT.
For every REFERRED USER added : NODE receives €2.50
For avoidance of doubt, a USER will receive KYC INCENTIVE and TRADING INCENTIVE only once such USER becomes a NODE.
NODEs can also trade on the platform. However the amount traded by the NODE does not count towards the €1000 that has to be achieved by REFERRED-USERs.
Please watch this video which navigates through the exchange and offers a step-by-step guide on becoming a NODE.
5. When will I receive the 10 Euro sign-up reward?
You shall receive the KYC INCENTIVE after completing Full KYC. As per the T&C, please note that these rewards will be converted into the Native Tokens equivalent at Token Generation Event.
6. How to add Users as a NODE?
Once registered and whitelisted as a potential NODE on XDAT.io:
1. Generate your referral link.
2. Share or forward this referral link with your contacts, friends, acquaintances or interested traders.
3. Using this referral link, the potential USER can register on XDAT.
4. After Full KYC, the USER is added to the potential NODE’s network.
5. A potential NODE can add any number of USERs, but KYC INCENTIVE will be provided only for the first 50 referred USERs.
For avoidance of doubt, a potential NODE will receive KYC INCENTIVE and TRADING INCENTIVE only after successfully becoming a NODE.
7. Who can become a USER?
Any individual who successfully completes Full KYC on XDAT.io is a USER.
You can further whitelist as a NODE or be added by a NODE as a REFERRED-USER, in which case you will earn rewards as per the incentive structure. Refer incentive chart.
If you do not wish to become a NODE or a REFERRED-USER, you can trade as a regular USER. You will still receive the €10 KYC INCENTIVE however you will not be eligible to earn rewards from the Bullwhip Movement.
8. What is the utility of the Community Token?
1. Priority in future value distributions out of XDAT
2. First preference to participate in Bullwhip Movement Phase 2
3. Eligibility to receive Native Token of equivalent amount earned in the Bullwhip Movement
Note : This Community Token is Non-Transferable
9. Will a NODE be rewarded even if only one REFERRED-USER has traded with a volume of €1000?
A NODE will be rewarded as per the KYC INCENTIVE and the TRANSACTION INCENTIVE even if only one REFERRED-USER trades a volume of €1000, as the cumulative trading mark is achieved.
10. As a REFERRED USER, if I trade more than €1000, can I earn a Community Token?
You cannot earn a Community Token by trading €1000. A REFERRED-USER can however become a SUB-NODE, by following the same criteria as applicable for becoming a NODE.
- Only up to 5 REFERRED-USERS of a NODE can become SUB-NODEs, on a first come first serve basis; thereby making the preceding NODE a PARENT-NODE.
- SUB-NODE has the same earning incentives as a NODE,
11. What is the timeline to become a NODE?
Any individual can become a NODE until Token Generation Event, however the first 200 NODEs get enhanced TRADING INCENTIVE.
12. Until when can I earn rewards as a NODE or a REFERRED-USER?
You can earn rewards until the Token Generation Event. All earnings will be terminated when the NODE reaches an incentive mark of €2000, or at the Token Generation Event, whichever is earlier.
13. When is the Token Generation Event for XDAT?
The Token Generation Event is scheduled at the end of 2019.
14. What is Phase 2 of the Bullwhip Movement?
Our approach is to reach wider audiences to encourage adoption of crypto and succeed at CRYPTO FOR ALL, by creating an amplified ripple effect. Phase 2 of the Bullwhip Movement will essentially be the next step in this journey, and our NODEs will be first in line to benefit from this phase and all other subsequent phases as well.
15. How many NODEs and USERs will be rewarded through Bullwhip Movement Phase 1?
NODES & SUB-NODES (Combined): 500
USERS & REFERRED-USERS (Combined): 50,000
16. What is the maximum amount a NODE and a REFERRED-USER can earn?
A NODE & SUB-NODE can earn up to €2000. A REFERRED-USER can earn up to €100. Refer the incentive chart.
17. How much is XDAT investing in Bullwhip Movement Phase 1?
XDAT is investing over €1,000,000 in the Bullwhip Movement to faster crypto adoption.
18. How is XDAT secure and transparent?
XDAT follows comprehensive procedures to achieve KYC and AML, especially while adding USERs to our exchange platform. USERs cannot trade without completing their Full KYC. XDAT strictly follows regulatory compliance and GDPR standards. The exchange has a robust wallet security and features multiple secure layers for protecting its USERs’ assets.
19. What features are included in the platform for a beginner?
Welcome to crypto trading!
On XDAT, we are rewarding all our first time USERs. Once, you sign up with XDAT, complete Full KYC, you will
Since, you are new to the crypto trading world we want you to have a seamless experience trading by:
- Accepting deposits in EUR
- Featuring a simple ‘Buy & Sell’ dashboard
- Facilitating fiat-crypto-fiat trading
- Providing 24*7 customer support
Click here to know more.