Dear BitMax.io Users,
Starting from 7:00 p.m. EST on December 19th, BitMax.io will introduce a new lock-up rule for data usage reward distribution.
Under the new rule, only locked BTMX tokens will be eligible for receiving data usage reward.
Please Note: users need to manually transfer BTMX to Lock-up Account under the [My Asset] tab.
Reward Distribution Methodology
Daily Distribution Amount = Reward Pool Balance / 180
Individual Distribution Amount = Daily Distribution Amount * (Individual Effective BTMX Lock-up Position / Aggregation of Total User Effective BTMX Lock-up Position)
- Users can transfer BTMX from Normal Trading Account to Lock-up Account. Once confirmed, selected tokens are locked up immediately and start to share data usage reward.
- Daily Effective BTMX Lock-up Position = 24HR Weighted Average BTMX Lock-up Position
- Users can request to unlock BTMX in the Lock-up Account anytime. It takes 24 hours to process the unlocking request.
- The selected BTMX tokens will be removed from Lock-up Account and stop sharing the data usage reward immediately after the unlocking request is submitted.
- Users cannot request to unlock BTMX tokens that are locked for reaching sell limit.
- Users cannot request to unlock BTMX tokens that are locked on the purchase of reward distribution multiple card.
BTMX Default Lock-up Rules and Preferences
- By default, BTMX received from transaction mining and pre-distribution release (49% of total issuance) will be in unlocked status. However, users can change the preference in the [Account] setting.
- BTMX received from Referral Reward will be locked by default.
- Over-sell locked BTMX will be released to the regular lock-up status once its mandatory lock-up period expires. Users then can request to unlock.
- Upon the purchase of reward distribution multiple card, the selected BTMX tokens will be locked up and receive regular reward before the card taking effect. After the card effective date the selected BTMX will start to share the multiplied rewards. After the card expires the selected BTMX will return to lock-up status and receive regular rewards.
BTMX Consumption Rule
Consumed BTMX will be deducted from the user’s account in the following order:
1: Unlocked BTMX
2: BTMX in the unlocking process
3: BTMX locked for Data Usage Reward Distribution
4: BTMX locked for excessing the daily sell limit
BitMax.io reserves the final rights of implementing and interpreting the Lock-up Rule for Data Usage Reward Distribution.
Thanks for the continued support!
Dec 18th, 2018