BitMax is thrilled to announce the joint primary listing of Bonfida (FIDA) under the trading pair of FIDA/USDT. Details are as follows:
To celebrate the listing of Bonfida (FIDA), BitMax will conduct a Standard auction on December 17 from 9:00 a.m. EST to 10:00 a.m. EST. A total of 2,000,000 FIDA will be put up for auction.
There will be 500 winners of 4,000 FIDA in the Standard auction. Each BitMax user can only win a single tranche of 4,000 FIDA (No Lock-up). Users can bid with USDT + BTMX (or BTMXP) to increase their likelihood of winning the auction. Auction results will be announced on December 17 at 11:00 a.m. EST. Please see below for additional details on the auction.
Bonfida (FIDA) Standard Auction Overview
Price discovery with a minimum and maximum bid amount. Participate by bidding 300 USDT + up to 2,700 BTMX or 27,000 BTXMP. If more than 500 participants bid 300 USDT + 2,700 BTMX / 27,000 BTMXP, a random draw will be conducted to select winners. Bid the cap for your eligibility to win.
Terms & Conditions:
1. Standard Auction allows participants to bid for the chance to win a tranche of 4,000 FIDA. 500 participants will win the auction with total allocation of 2,000,000 FIDA.
2. The Starting Bid is 300 USDT, indicating a price of $0.075 per FIDA, and the bid cap is 300 USDT + 2,700 BTMX or 27,000 BTMXP, indicating a price of $0.1 per FIDA.
3. Each BitMax user can place multiple bids but can only win a single tranche of 4,000 FIDA in the Standard Auction.
4. The BTMX / BTMXP bid component of the auction serves as a tiebreaker. For example, if less than 500 participants bid at the bid cap, those that bid a greater amount of BTMX or BTMXP will win the auction, capped at 2,700 BTMX or 27,000 BTMXP. The conversion ratio between BTMX and BTMXP is 1 BTMX = 10 BTMXP.
5. If there are >500 participants bidding at the bid cap (300 USDT + 2,700 BTMX or 27,000 BTMXP), a random draw will be conducted to determine the winners of the auction.
6. Any BTMX or BTMXP collected from this auction will be consumed. Please note that BTMX consumption in the auction will NOT result in BTMX release from the private sale portion.
7. To support the upcoming Bonfida (FIDA) auction, BTMX Private Sale to BTMXP Transfer Fee will be temporarily waived starting one week ahead of the auction, from December 12, 9:00 p.m. EST to December 17, 10:00 a.m. EST.
1. From 9:00 a.m. EST – 10:00 a.m. EST on December 17, users can place bids in the Standard Auction. Only USDT, BTMX, and BTMXP in a user's Cash Account can be used as payment in the auction. Users can submit bids multiple times. Once a new bid is submitted successfully, the corresponding amount of additional BTMX or BTMXP will be deducted from the user's Cash Account. The last bid outstanding will be deemed as the user's final bid.
2. To increase the likelihood of winning in the Standard Auction, a user should monitor the 500th bid closely and submit bids that are greater than or equal to the 500th bid. If the Bid Cap is submitted by >500 participants, users can still ensure their bids will be included in a random draw by submitting the Bid Cap.
3. For users who do not win the bid, their USDT and BTMX (or BTMXP) bids will be fully refunded within 2 hours after the auction.
4. At the end of the auction, winners need to submit the BitMax.io account and auction confirmation code on Bonfida official website by December 18, 7:00 a.m. EST. Failure to timely submit the information will be deemed as the users' voluntarily forfeiting the bid item of 4,000 FIDA. In the event of such forfeiture, the USDT and BTMX (or BTMXP) bids will be refunded by December 18, 11:00 a.m. EST.
1. Users are required to complete KYC 2 verification in order to be eligible for participation.
2. Users must agree to and sign the Bonfida Auction Agreement.
3. Only users from the jurisdictions where local laws and regulations permit are eligible for the participation.
Users from the following regions are NOT eligible for participation:
United States, Balkans region, Belarus, Myanmar, Côte d'Ivoire, Cuba, Democratic Republic of the Congo, Iran, Iraq, Liberia, North Korea, Sudan, Syrian Arab Republic, Zimbabwe, Algeria, Bangladesh, Bolivia, Cambodia, Ecuador, Nepal, Afghanistan, Burundi, Central African Republic, Singapore, Malaysia, Ethiopia, Guinea, Guinea-Bissau, Lebanon, Sri Lanka, Libya, Serbia, Somalia, South Sudan, Thailand, Tunisia, Trinidad and Tobago, Ukraine, Uganda, Venezuela, Yemen.
BitMax.io reserves the final right to interpret and adjust these Terms and Conditions. For any abusive or suspicious activities, the users will be disqualified from the auction once identified.
We truly appreciate your continued support.
December 12, 2020
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