On August 12th, 2019, the official website of ZB.com announced the new VIP membership system solicitation draft. After requesting users and co-partners’ opinions on the matter, the new VIP system version of ZB is now officially complete and has already been implemented.
The main adjustment of the system can be summarized as follows:
1- The new VIP system continues the tiered transaction rate, with the minimum transaction fee as low as 0.03%;
2- The VIP membership of the new system’s version offers two ways for users to obtain VIP status: locking up ZB Bitcoin Tokens and buying VIP status with ZB Tokens；
3- The new VIP system creates a new application scenario for ZB Tokens, encourages users to lock up their ZB Tokens and increases the intensity of deflation.
New VIP Tiered Transaction Tate
The new VIP purchase rules and rights and interests published by ZB.com are as follows:
After the adjustment, the VIP system will continue the previous tiered transaction rate: the entry level VIP1 is purchased at 100 ZB Tokens per month and member enjoys a rate of 0.09%(in the case of using ZB Tokens for commission deduction); The purchase price of the highest level VIP9 is 60000 ZB Tokens and the rate is 0.03%. Users can choose their VIP level based on their own needs.
In addition to the VIP system, professional investors can become market makers on ZB.com for 100ZB/30 days. If a user becomes a market maker, user’s account is free of transaction fee for the first 7 days, and then user’s discount of transaction fee will be based on the average daily turnover of their past 7 days. Users can enjoy as low as 0 transaction fee in the mainstream trading area.
ZB.com original super members, SVIP1, SVIP2, SVIP3 and SVIP4, enjoy the benefits automatically corresponding to “VIP6, VIP7, VIP8, VIP9”. Super members follow the original rules of protection and demotion. Super members can also purchase VIP Member’s products, but the transaction fee discount, rights and interests cannot be superimposed, and the platform will automatically select the best discount and maximum rights and interests.
Addition of a ‘Lock-up ZB Token’ Way to Obtain VIP Member Status
Compared to the old VIP system’s version, the new scheme offers two ways for users to obtain VIP status: locking up ZB Tokens and buying VIP status with ZB Tokens.
If you foresee an increase in ZB Token, you can enjoy VIP rights through a certain amount of ZB lock-up at the same time, but also avoid short trade. However, it is worth reminding that the ZB Token of the ‘lock-up’ cannot be used for any transaction or to exit operation halfway.
The entry-level VIP1 requires 2500ZB of lock-up (for 30 days) at a rate of 0.09%(in the case of using ZB Tokens for commission deduction); The highest level VIP9 requires 2.4 million of lock-up(for 30 days) at a rate of 0.03%(in the case of using ZB Tokens for commission deduction). Users can choose the corresponding VIP level according to their daily trading volume, the number of their lock-up of ZB Tokens and their judgment of the market.
ZB Token is Becoming the Energizing Focus
The summary for the new VIP membership system scheme published this time is that ZB Token becomes the energizing focus of ZB.com.
Previous applicable scenarios of ZB Token included: pay for transaction fees, vote for listing and pay for service fee of being a market maker. The contents added after this adjustment are:
- Encourage users to lock-up their ZB Tokens: users can become VIP members by locking up ZB Tokens. The entry-level VIP1 requires 2500/ZB of lock-up. The highest level VIP9 requires 2.4 million of lock-up.
- Expand application scenarios: Users can purchase VIP directly with ZB Tokens. A minimum payment of 100ZB is entitled to a 30-day VIP1, and a payment of 60,000 ZB is entitled to a 30-day VIP9.
In addition, 25% of the quarterly ZB.com platform trading fees are used for regular repurchase of ZB Tokens (15% in the 5th year to10th year, and 5% after 10 years), plus the ZB Tokens gained by vote-for-listing in each issue, all ZB Tokens will be locked in the ‘Users Protection Fund’.
Recent lock-up dynamics of ZB Token included: on June 6th, 2019, ZB.com released the second quarter recall information of ZB Tokens and disclosed that it has completed 36801200 repurchases of ZB Tokens. The Tokens are worth over 60 million RMB. At that time, the ‘Users Protection Fund’ had locked up more than 1.2 billion ZB Tokens (total circulation of ZB Tokens: 2.1 billion).
ZB.com will continue to energize the functionalities of ZB Token, increase its application scenarios, increase repurchase and destruction efforts, and seek development dividends from the ZB.com with users.