🎊Gyrowin Compensation
Last updated: 2024-11-01
Effective Date: November 1, 2024 Duration of Plan: Until all eligible users are fully compensated
1. Purpose of the Compensation Plan in Relation to Rebranding
The purpose of this Gyrowin User Compensation Plan is to provide fair and transparent compensation to users affected by the relaunch of the Gyrowin token and the disruption of the Gyrowin netmarketing service. The goal is to restore user trust and satisfaction by ensuring affected users are adequately compensated for their losses.
2. Eligibility Criteria
This compensation plan covers two categories of affected users:
A. Gyrowin Token Holders
Eligible users must have held GW tokens at the time of the token snapshot (13:00 UTC+0 on September 13th, 2024) prior to the relaunch.
Users who sold their GW tokens between the snapshot date and the liquidity drain date are not eligible.
B. Gyrowin Netmarketers
Eligible users must have actively participated in the Gyrowin netmarketing program prior to its closure.
Users must provide proof of their netmarketing activities and investment amounts.
3. Compensation Structure
Convertible Bond with Loyalty Bonuses and Refunds
Amount: Users will receive a convertible bond equivalent to the amount of USD invested in GW tokens and the netmarketing program.
Conversion: The Gyrowin Utility Token (GUT) Convertible Bond provides holders with conversion rights exercisable after a 12-month lock-up period.
Early Conversion Fee:
If the convertible bond is swapped for GUT tokens before the 1-year period, a 50% early conversion fee will apply, resulting in the user receiving only half the assigned GUT amount.
Interest: Refer to Evergreen Plant Rewards.
USDT Refund from Treasury: For users who do not want to convert their convertible bonds to Gyrowin Utility Tokens (GUT), they have the option to receive a USDT refund from the treasury fund.
Here's how it works:
Treasury Fund: 10% of the Gyrowin ecosystem revenue will be deposited into a treasury fund to facilitate the USDT refunds.
Refund Calculation: The amount each user can retrieve from the treasury fund will be proportional to their original investment.
For example, let's say the total value in the treasury is $100, and the three eligible users (A, B, and C) had the following investment amounts:
User A: $4,000 invested
User B: $2,000 invested
User C: $1,000 invested
To calculate each user's refund share:
User A's share = ($4,000 / $7,000) x $100 = $54.14
User B's share = ($2,000 / $7,000) x $100 = $28.57
User C's share = ($1,000 / $7,000) x $100 = $14.29
So, User A would receive a $54.14 USDT refund, User B would receive $28.57, and User C would receive $14.29. No Additional Fees: This USDT refund process will not incur any extra fees or penalties for the users. They will receive the full proportional amount based on their original investment. Immediate Updates: The treasury fund balance and each user's refund share will be updated immediately after the withdrawal from the treasury is successful, this will also result in their interest reward for the bond.
As can be see, the refund amount will be proportional to the user's investment compared to the total eligible claims.
4. Limitations and Exclusions
Minimum Claim Amount: The minimum eligible claim amount is $50 to qualify for the convertible bond option.
Non-Transferability: Compensation is non-transferable and can only be claimed by the specified user.
5. Changes to the Plan
Gyrowin reserves the right to modify, extend, or terminate this compensation plan at any time, with notice provided to all affected users.
As part of the 2024 Gyrowin rebranding, the GW token will be discontinued, and operations will proceed with the GYROWIN and GUT tokens.
The claim link for GW token holders will be announced later through Gyrowin’s official channels on Twitter and Telegram. With the migration to the SUI network, please prepare your SUI wallet address in advance. Rewards are non-transferable and can only be claimed by designated users.
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