Dear BitMax.io users,
To further expand and grow the BitMax.io ecosystem, the platform will launch BTMX Investment Product at 10:00 a.m. EDT on October 22nd, 2019. As a result, the original Data Usage Reward Distribution mechanism will be converted to BTMX Investment Product.
BTMX Investment Product
Upon product launch, user’s BTMX tokens with lock-up status for Data Usage Reward will be automatically converted to subscription quota for BTMX Investment Product under BitTreasure section. Therefore, users can share the platform distribution pool proportionally per their subscription quota. The investment return will be calculated the same way as the original Data Usage Reward.
Est. Daily Profit/ BTMX =1 / Total Subscription Quota*(Distribution Pool/180)
Est. APR = Est. Daily Profit / BTMX Price in USDT (at the time of data update)*365*100%
Product Subscription and Redemption Rules
- User can subscribe the investment product with BTMX purchase in both Cash Account and Margin Account. Subscription quota will be displayed separately under these two accounts.
- BTMX private sale quota can be released through either auto-subscription to BTMX Investment Product under BitTreasure section or on Cash Account from My Asset page.
- No commission fee for product subscription. Investment subscription takes immediate effect and can’t be canceled.
- Users can request for Regular Redemption or Instant Redemption anytime.
- Regular Redemption: No commission fee.
Upon successful submission of the request, the redeemed BTMX tokens will be credited to user’s balance after 24 hours. BTMX pending redemption can’t be used for consumption;
- Instant Redemption: A commission fee at 10% of total redemption amount.
Upon successful submission of the request, the redeemed BTMX tokens will be credited to user’s balance instantly after fee deduction.
- BTMX Investment quota can be transferred between Cash Account and Margin Account.
- 10% haircut will be applied for BTMX Investment quota in Margin Account when used as collateral for margin trading.
- Daily return distribution of BTMX Investment Product is subject to automatic margin interest repayment.
- BTMX Investment quota can be used for consumption with 10% commission fee applied.
BTMX Investment Multiple Card
As BitMax.io launched BTMX Investment Product, the original Reward Distribution Multiple Card is converted to BTMX Investment Multiple Card. With 1 BTMX Investment Multiple Card, up to 10,000 BTMX on your account will be multiplied by 5 in the calculation of the BTMX investment profit.
Issuance Schedule: Every 10 days with 2 releases
Release Time: 0:00 UTC and 12:00 UTC
Price: Set at the time of purchase and subject to dynamic change
Valid Period: 10 days
Total Supply per Issuance: Subject to dynamic change
Quota per User Account: 15 cards each time
Payment Method: BTMX
Users need to purchase BTMX Investment Multiple Card with BTMX. With 1 Multiple Card, up to 10,000 BTMX in user’s account will be multiplied by 5 in the calculation of the individual share of platform distribution pool. As a result, 10,000 BTMX with Multiple Card has the same individual share as the investment of 50,000 BTMX. When user’s balance is less than 10,000 BTMX, the actual balance will be used in the calculation.
Assume that you have 101,000 BTMX in your account and the current price of BTMX Investment Multiple Card is 1,000 BTMX. When 1,000 BTMX is paid for one BTMX Investment Multiple Card, your individual share of the platform distribution pool will be based on the new effective BTMX investment quota calculated as below:
90,000 BTMX + 10,000 BTMX *5 = 140,000 BTMX
Therefore, you will receive equal amount of investment return as 140,000 BTMX Investment holders.
Assume that you have 9,000 BTMX in your account and the current price of BTMX Investment Multiple Card is 1,000 BTMX. When 1,000 BTMX is paid for one BTMX Investment Multiple Card, your individual share of the platform distribution pool will be based on the new effective BTMX investment quota calculated as below:
8,000 BTMX *5 = 40,000 BTMX
Therefore, you will receive equal amount of investment return as 40,000 BTMX Investment holders.
- BTMX Investment Multiple Card will be automatically activated and applied to the account the next day upon the purchase.
- Card sale is scheduled every 10 days with two release at 0:00 UTC and 12:00 UTC.
- BTMX Investment Multiple Card will only be valid for 10 days. The purchase quota is capped at 15 cards per account each time. One purchase per user is allowed.
- BTMX within the scope of BTMX Investment Multiple Card cannot be redeemed early or used for circulation. Upon expiration, those BTMX tokens are subject to auto-subscription to regular BTMX Investment Product.
- BTMX Investment Multiple Cards cannot be combined in order to be applied to the same BTMX investment quota.
- The price and total supply for BTMX Investment Multiple Card will be set at the time of purchase and subject to change.
- The multiplied investment quota (5 times) of BTMX will be counted in the calculation of Aggregation of Total User Effective BTMX Subscription Quota.
- All BTMX tokens used for the purchase of BTMX Investment Multiple Card will be deemed as consumption.
BitMax.io reserves the final right of adjustment and interpretation of BTMX Investment Multiple Card rules.
Thanks for the continued support!
Oct 19th, 2018