CoinFLEX Will Conduct A $47 Mln Recovery Value USD Token Sale

Cryptocurrency derivatives platform CoinFLEX will launch the Recovery Value USD (rvUSD) token to attract investment to resume the withdrawal function. On June 24, the platform suspended the withdrawal of user funds due to extreme market conditions and counterparty uncertainty.

To cover the client's debt and resume the withdrawal of funds, CoinFLEX plans to sell 47 mln rvUSD stablecoins pegged to the US dollar. From June 28 to July 1, tokens can be bought by traders whose annual income is at least $200,000, and their own capital is more than $1 mln. The owners of stablecoins will receive dividends in the amount of 20% per annum and 2.5 mln FLEX tokens (FLEX).

The platform will resume withdrawals after all Recover Value USD coins have been sold. If the virtual currency can be realized within two days, then the platform will be restored on June 30, as it was originally planned. Otherwise, the restart of the service will be postponed indefinitely.

Image: The Crypto Times