We are delighted to announce that we have signed a partnership agreement with Premiere League leaders Manchester City.
What You Need To Know:
- All LOCK-BM tokens will convert to $CITY Fan Tokens and will be distributed to Socios.com wallets on Monday 22nd March
- $CITY will not be tradeable at this time
- We are changing the ratio of $CHZ to Fan Tokens. Instead of receiving 1 Fan Token for every 200 $CHZ, you will now receive 4. At the point of distribution, each Fan Token will have a value of 50 $CHZ.
- $CITY Token Supply: 20 million
- If you participated in the LOCK-BM Locker Room, you will receive a CHZ bonus of 15% of your stake. This will be credited to your Socios.com wallet by the end of the day, Friday 19th March (CET).
$LOCK-BM -> $CITY Conversion Split
As we said above we are changing the ratio of $CHZ to Fan Tokens for $CITY. Instead of receiving 1 Fan Token for every 200 $CHZ, you will now receive 4. At the point of distribution, each Fan Token will have a value of 50 $CHZ.
In order to start distribution, we first need to perform a ‘swap’. Step 1: is to divide the value of your $CITY by four. Step 2: additional tokens will be added to your wallet, so it holds the identical value as before.
You own 10 $CITY Fan Tokens, with the current value of 2000 CHZ.
The CHZ value of those 10 $CITY Fan Tokens will decrease to 500 CHZ (dividing by 4)
Your 10 $CITY Fan Tokens will increase to 40 $CITY Fan Tokens (multiplying by 4)
These 40 $CITY Fan Tokens now have the value of 2000 $CHZ.
Thank you for your continued support.