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I'm still confused after reading the materials and I even do some cryptocurrency myself. "What does $1 of Credit will become $1 of XNK at launch," mean? Does it mean that 27,500 credits are equal to $1 at official trade rates, and 3,650 credits equal 1 XNK, then $1 equal to 7.14 XNK?
27,500 = $1 and 3,850 credits = 1 XNK, so $1 = 7.14 XNK. $787 (current ETH price) X 7.14 = 5,619 XNK. The value of ETH has gone down. 5,619 X 3,850 would equal 21.63 million credits. Anyway though, nobody is selling cryptocurrency at official exchange rate. Instead of 27,500 credits per dollar they (and I) are selling them at 200,000+ credits per dollar.
The math for that is as follows: 222,222 credits = $1 (my rate, which is low I think for Listia members). That means 57.7 XNK = $1 of cryptocurrency and 0.1 ETH X $787 = 78.70. $78.70 X 222,222 credits = 17.488 million (I need to only slightly lower my prices, I think I'm currently charging 18 million for 0.1 ETH). Once XNK comes around, I would charge $78.70 X 57.7 = 4,541 XNK.
Thanks, but I think people are holding onto their credits until they see how the XNK works. I think maybe though at the beginning $1 = 7.14 XNK but the amount of XNK per dollar is going to inflate. However who knows!