Tiger Cash is a platform token issued by CoinTiger Exchange, referred to as TCH, which is a decentralized blockchain digital asset based on Ethereum. TCH was officially launched on November 15, 2017, with a total circulation of 1.05 billion. Since its launch, 50 million tokens have been recycled and destroyed through the secondary market, and now the total is 1 billion tokens.

Since September 3, 2018, CoinTiger has introduced an equity mechanism for TCH, that is, investors hold 1 TCH, that is, hold one CoinTiger equity, and distribute no less than 50% of the annual net profit to all TCH The holder's original "50% profit is used for repurchase and destruction of TCH" mechanism is cancelled. At the same time, after the implementation of the new rules, TCH users who hold more than 1% of the total amount of TCH (10 million) can apply for the change of registration of shareholders of CoinTiger Singapore.

1. TCH introduces equity mechanism

1. The CoinTiger Singapore Foundation and the main body of CoinTiger Singapore jointly decided to distribute the shareholder equity of CoinTiger originally held by the foundation to all TCH users, that is, all the equity of CoinTiger held by the original foundation and company controllers The rights and interests will be jointly held by all TCH holders;

2. CoinTiger will distribute no less than 50% of its annual net profit to all TCH holders, and the original mechanism of "50% of profits used to repurchase and destroy TCH" will be cancelled. The current CoinTiger income structure: new currency listing, transaction commissions, ecological funds, Labs, providing one-stop exchange solutions to external parties, and providing liquidity management services to external parties, etc.

3. TCH holders will have the right to vote at all CoinTiger general meetings according to the proportion of TCH they hold. For the specific functions and powers of the general meeting, please refer to the chapter on General Meeting of Shareholders. As of the release date of this announcement, the total amount of TCH is 1 billion (a total of 1.05 billion has been issued and 50 million have been destroyed). After the implementation of the new rules, TCH users who hold more than 1% of the total amount of TCH (10 million) can apply for the change of registration of shareholders of CoinTiger Singapore. Under the new rules, CoinTiger will implement and announce changes every three months. The latest change is on December 31, 2018. CoinTiger will create a subsidiary smart contract that facilitates TCH users to query shareholder registration changes.

2. Board Governance Structure

1. The governance of CoinTiger has changed from the original foundation governance to the management of the board of directors, which is supervised by TCH holders;

2. The CoinTIger board of directors will consist of 11 natural person directors, including 7 TCH shareholder directors and 4 community directors. Shareholder directors and community directors are elected by the general meeting of shareholders and enjoy all the rights of directors;
1) About shareholder directors: 7 shareholder directors are nominated by existing CoinTiger shareholders and elected by voting at the general meeting of shareholders. The term of office of each session of shareholder directors is one year, and upon expiration of the term, they can run for re-election. During the term of office, the number of TCH held by shareholder directors must not be less than 10 million, and cannot be transferred or changed;
2) Regarding community directors: 4 community director seats, recommended by the CoinTiger community, and community users vote for community director seats. The term of office of each community director is one year. When the term of office expires, he can run for re-election, and the re-election time shall not exceed 3 years. During the term of office, the number of TCH held by community directors must not be less than 10 million, and cannot be transferred or changed;

3. In view of the fact that the term of the first board of directors is about to end, after this reform, the rules will be followed by the second and subsequent boards of directors. The election and determination of members of each board of directors will be announced according to the rules.

3. Other relevant governance regulations

1. The TCH held by the CoinTiger Singapore Foundation is 12%. According to the white paper, 20% of the ban will be lifted every year, and the ban will be lifted within 5 years. Through this adjustment, the foundation has decided to voluntarily extend the lock-up period to 8 years, and the first unlocked TCH voluntarily locks for one year;

2. Management (director and above) and members of the board of directors shall not be lower than the minimum position requirements during their tenure. After the term of office is over, it can be freely circulated, but the reduction of holdings needs to be announced at least 2 weeks in advance. The content of the announcement includes the expected shareholding reduction ratio, quantity, price range, and purpose, and the specific format will be stipulated separately;

3. TCH holders need real-name authentication before they can register for dividends on the registration day (voting will not be affected);

4. Shareholders who reduce holdings by more than 5% of the total amount of TCH must make an announcement in advance, unless they have not voluntarily become CoinTiger shareholders before. The specific announcement of shareholding reduction will be stipulated separately;

4. The board of directors reviews CoinTiger's financial budget and profit distribution plan every year, and submits the results to the shareholders' meeting after approval. The annual profit distribution ratio is not less than 50% of the net profit, and the dividend currency is BTC, ETH and other mainstream currencies. The operating status of CoinTiger will be publicized at least once every six months;

6. Establish the CoinTiger Supervisory Committee, hire community users to supervise and manage, and invite external third-party organizations to conduct reviews;

7. Committed to building an efficient autonomous organization with open governance, transparent finances, standardized systems, clear responsibilities and rights, and community supervision.

Fourth, TCH allocation plan

The above information is from TCH official website

Related link:
https://cointiger.zendesk.com/hc/zh-cn/articles/360010735174-CoinTiger%E5%B8%81%E8%99%8E% E5%85%B3%E4%BA%8ETCH%E5%BC%95%E5%85%A5%E8%82%A1%E6%9D%83%E
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https://cointiger.zendesk.com/hc/zh-cn/articles/360010825054-TCH%E5%BC%95% E5%85%A5%E8%82%A1%E6%9D%83%E6%9C%BA%E5%88%B6%E5%90%8E%E7%BB%AD%E7%BB%
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