Transaction Mining Mode Analysis
When you select “Mining” mode, your transaction fee is 0.1% for all Taker/Maker trades and you will receive certain amount of BTMX as reward for trading on the platform.
Mined BTMX will be settled on hourly basis for previous 24-hour period. By default, BTMX received from transaction mining will be in unlocked status. You can change the preference to “Locked tokens” in the [Account] setting.
Notice: In the case where Transaction Fee Variable is 1.
Reverse-Mining Mode Analysis
In the “Reverse-Mining” mode, you don’t need to pay transaction fee. You will get 0.04% rebates by executing Maker trades.
The equivalent market value of BTMX token being deducted from your account. The BTMX tokens being subject to permanent lock-up.
For example: in the Reverse-Mining mode, you execute the Maker trade of buying 10,000 ETH. The following table illustrates the asset change:
1.The rebates from “Reverse-Mining” come from your counterparty – the Taker of this transaction.
2.This Taker trade may be executed in the “Mining” or “Regular Trading” mode when there is no sufficient BTMX balance in your account.
3.In the case where Transaction Fee Variable is 1.
Regular Trading Mode Analysis
When you select “Regular Trading” mode, your transaction fee is 0.04% for all Taker/Maker trades. You’re not eligible to receive BTMX as reward for trading on the platform.
Transaction Mining and Reverse-Mining Trading Modes Setup
Before you start trading, you must set up your trading mode to ensure efficient trading activities.
1.Click on “Account” to view Mining Settings.
2.For all Taker trades, select “Mining” or “Regular Trading” mode. The mechanism and transaction fee will be applied at trade/transaction level based upon the selection of trading mode.
3.For all Maker trades, please select “Regular Trading” or “Reverse-Mining” mode. The mechanism and transaction fee will be applied at trade/transaction level based upon the selection of trading mode.
Distribution of Platform Data Usage Reward
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.
Everyday, the platform will set aside 80% of net transaction fee revenue for the Data Usage Reward Pool and distribute back to token holders 1/180 of the Data Usage Reward Pool balance.
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)
Referral Reward Program Analysis
Users can get 10% referral reward when they invite others to trade on BitMax.io.
The following table illustrates the amount of referral rewards under different scenarios:
When the invitees in the Mining mode are the counterparty of the Taker Trades in the Reverse-Mining mode, the user who invites them will receive certain amount of reward per following formula:
(Invitee’s Mining Quantity – Counterparty’s Reverse-Mining Quantity) * 10%
Daily settlement will start at UTC 00:00 (Beijing Time 8:00am) based off the previous 24-hour referral reward amount.