XRP and SOLO coin holders will receive xCORE tokens
XRP and SOLO coin holders will receive xCORE tokens
Upbit, a major South Korean cryptocurrency exchange, announced that it will give away xCORE tokens for free to those investors who have $XRP and $SOLO at the time of the auction and plans to support withdrawals in the future.
The Upbit exchange filed a report stating that the airdrop giveaway has already begun and will last 48 hours. Fifty million tokens will be split between SOLO and XRP holders. A snapshot of the tokens for the giveaway was taken on March 24 at 13:00 Korean time.
A total of 100 million $CORE tokens will be given away to token investors, and 50 million xCORE tokens will be deposited into the wallets of SOLO and/or XRP token holders at the time of the snapshot.
Upbit stated that xCORE tokens can be exchanged for CORE tokens if the value of CORE reaches and exceeds $10 for at least 10 consecutive days, according to Cryptonews.
The Core team is issuing xCORE tokens to encourage the community to support the growth of the CORE ecosystem while creating some flexibility for those who don't want to directly store CORE tokens.
The crypto exchange said that after the specified deadline, users will be able to exchange xCORE tokens for CORE at a 1:1 ratio, regardless of the exchange rate at the time. This will be possible through a smart contract on the Coreum blockchain.
Upbit was previously behind the popularization of a Solana-based cryptocurrency called Access Protocol ($ACS), which ended up doubling in value after the listing announcement.
As a reminder, we previously reported that Gemini was considering the UK as its global hub.
