Dear BitMax.io Users,
As BitMax.io is transitioning into a new phase of business expansion with strategic plan implementation, it is decided that the Transaction Mining and Reverse-Mining trading modes will be discontinued at 10:00 a.m. EDT on September 12th, 2019. After that, transaction fees of all trading activities will be charged based on regular trading fee schedule. Post implementation, details are as follows:
1. Permanent Lock-up of All Pending Mining Portion
BTMX from pending mining portion will be subject to permanent lock-up. Further details will be announced in the future.
2. Release Mechanism for Private Sale Participants (Subject to Change per Market Condition)
Private sale participants will be first prioritized for initial release. Private sale release function for team, foundation, and institutional investors will be temporarily suspended. Details are as follows:
For every BTMX consumed on the platform, 0.5 BTMX will be subject to permanent lock-up and the other 0.5 BTMX will be released from private sale portion. BTMXP is not eligible for the private sale release function.
Individual User’s Daily Release Amount = (User’s BTMX under pending release / Aggregation of Total User BTMX under pending release) * Platform BTMX Daily Released Amount
Please note that the mechanism above will be subject to future change based on market conditions. In addition, the platform will determine whether to release private sale portion for team, foundation and institutional investors every 3 months. Please stay tuned for our announcement.
BTMX Consumption Use Cases:
1. BTMX can be consumed by the purchase of Point Card, Reward Distribution Multiple Card, and Airdrop Multiple Card;
2. BTMX can be consumed by the participation in platform events such as auction;
3. BTMX can be consumed by paying various fees. For example, service fee charged to transfer BTMX private sale portion under lock-up status to BTMXP; or commission fee charged to request instant unlock for BTMX under lock-up in Margin Account.
4. BTMX consumed for payment is subject to permanent lock-up.
1. BTMX consumed for the purchase of Volatility Card will not be considered as BTMX consumption.
2. The service fee charged to transfer the lock-up BTMX private sale portion to BTMXP is set at 7.5%; The service fee charged to transfer BTMXP back to the lock-up BTMX private sale portion is set at 5%.
3. For BTMX consumed for the participation in project-sponsored events (such as presale), the project team will determine whether the BTMX used should be considered as BTMX consumption.
3. To Disable Accelerated BTMX Release Function for Private Sale Participants
Upon termination of Transaction Mining and Reverse-Mining, accelerated BTMX release function for private sale participants will be automatically disabled.
4. Upcoming BitMax.io VIP Program
BitMax.io will soon launch a VIP program with tiering fee structure. Users under different VIP membership levels will be eligible for different fee schedule. Please stay tuned for future announcement.
Thank you for the continued support.
September 2nd, 2019
Telegram Group: https://t.me/BitMaxioEnglishOfficial