Whenever we are hosting trading competitions we will use the ad hoc average daily closing prices of the XYZ/USDT trading pair during the competition period as the XYZ/USDT exchange rate for XYZ distribution.

Ad hoc average daily closing prices are calculated using the same mechanism for every training competition on the Bitcoin.com Exchange unless otherwise specified in the Term & Conditions.

Calculations include the following: Sum of the closing price of each day during the trading competition + sum of day's closing price of 7 days after the trading competition / (the number of trading comp days + 7)

Below further details of the mechanism are outlined using an example.

1. Let’s imagine that Bitcoin.com Exchange conducted the trading competition for XYZ/USDT (this is an example, XYZ token is not listed on the Bitcoin.com Exchange) which lasted 5 full days:

  1. 1st day's closing price of XYZ is 1$
  2. 2nd day's closing price of XYZ is 2$
  3. 3rd day's closing price of XYZ is 3$
  4. 4th day's closing price of XYZ is 2$
  5. 5th day's closing price of XYZ is 3$

2. After the trading competition, the XYZ to USDT exchange rate was the following (please note, we’re taking into account 7 full days following the trading competition)

  1. 1st day's closing price is 2$
  2. 2nd day's closing price is 3$
  3. 3rd day's closing price is 4$
  4. 4th day's closing price is 5$
  5. 5th day's closing price is 2$
  6. 6th day's closing price is 4$
  7. 7th day's closing price is 5$

3. Daily closing prices during the competition will be added up which leaves us with the sum of the closing price of each day during the trading competition (1+2+3+2+3=11). Similarly the daily closing prices of all 7 days following the trading competition will be added up: (2+3+4+5+2+4+5=25). Both sums will be added up, resulting in the total sum of closing prices during the competition and the week after = 36. This sum will then be divided by the sum of days in the trading competition and the 7 days following the competition which we’re taking into account as well: 5 (Days of trading competition) + 7 (Days following competition). This leaves us with 12 days in total.

4. For the final closing price, we divide the total sum of closing prices by the total sum of days which results in 36/12 = 3. This means that 3 USDT is our ad hoc average daily closing price.

If you still have questions about the process, please reach out to us via the chat widget on the right side or send us a message in our telegram channel. We're happy to help!

Did this answer your question?