AscendEX is thrilled to announce the exclusive primary listing of Persistence (XPRT) under the trading pair of XPRT/USDT. Details are as follows:
Deposit: Mar 31, 2:00 p.m. UTC
Trading: Apr 1, 1:00 p.m. UTC
Withdrawal: Apr 1, 1:00 p.m. UTC
To celebrate the listing of Persistence (XPRT), AscendEX will conduct two separate auctions on March 31 from 1:00 p.m. UTC to 2:00 p.m. UTC. A total of 1,000,000 XPRT will be auctioned between a “Standard” auction with 750,000 XPRT and an “Uncapped” auction with 250,000 XPRT.
There will be 750 winners of 1,000 XPRT in the “Standard” auction, and 250 winners of 1,000 XPRT in the "Uncapped" Auction. Both auctions will be conducted simultaneously and AscendEX users can bid in both auctions with USDT + BTMX (or BTMXP) to increase their likelihood of winning the auction. Auction results will be announced on March 31 at 3:00 p.m. UTC. Please see below for additional details on each auction.
XPRT Standard Auction Overview
Main features of the Standard Auction include price discovery with a minimum and maximum bid amount and participation by bidding 400 USDT + up to 35 BTMX or 350 BTMXP. AscendEX users can earn the eligibility to bid for additional XPRT based on their trailing 5-day average BTMX holdings or trailing 20-day trade volume. If there are more than 750 bid items with 400 USDT + 35 BTMX / 350 BTMXP, a random draw will be conducted to select winners. So please bid the cap for your eligibility to win.
Detailed Terms & Conditions:
- AscendEX users with trailing 5-day average BTMX holdings ≥ 10,000 BTMX or trailing 20-day trade volume ≥ 30,000 USDT will be eligible for participation in Standard Auction. Standard Auction allows participants to bid for the chance to win a tranche of 1,000 XPRT. 750 participants will be selected to win the auction with a total allocation of 750,000 XPRT.
- The Starting Bid is 400 USDT, indicating a price of $0.40 per XPRT, and the bid cap is 400 USDT + 35 BTMX or 350 BTMXP, indicating a price of $0.45 per XPRT.
- Each AscendEX user can place bids for up to 6 bid items in the Standard Auction based on the trailing 5-day average BTMX holdings or trailing 20-day trade volume resulting in a maximum user allocation of 6,000 XPRT. Please see below for a chart illustrating the details:
Trailing 5-day Avg BTMX Holdings
Trailing 20-day Trade Volume (USDT)
Max Bid Items
- User’s trailing 5-day average unlocked BTMX holdings in Cash Account (excluding BTMX Investment under BitTreasure) will be calculated every day from March 25, 12:00 a.m. UTC, 2021 to March 30, 12:00 a.m. UTC, 2021 based on the user’s holding period.
- User’s trailing 20-day trade volume (including cash trading, margin trading and futures trading) will be calculated in USDT from March 10, 12:00 a.m. UTC, 2021 to March 30 12:00 a.m. UTC, 2021.
- User's bid quota will be calculated per 5-day average unlocked BTMX holdings or 20-day trade volume respectively. The system will pick the bigger quota for users by default. Each AscendEX user can place bids for up to 6 bid items in the Standard Auction.
- The BTMX / BTMXP bid component of the auction serves as a tiebreaker. For example, if there are less than 750 participants who bid at the bid cap, those that bid a greater amount of BTMX or BTMXP will win the auction, capped at 35 BTMX or 350 BTMXP. The conversion ratio between BTMX and BTMXP is 1 BTMX = 10 BTMXP.
If there are >750 participants bidding at the bid cap (400 USDT + 35 BTMX or 350 BTMXP), a random draw will be conducted to determine the winners of the auction.
Any BTMX collected from this auction will be converted into BTMXS being permanently locked up. Please note that BTMX consumption in the XPRT Standard Auction will result in BTMX release from the private sale portion.
XPRT Uncapped Auction Overview
Main features of the Uncapped Auction include price discovery with a minimum bid amount and no maximum and participation by bidding 400 USDT + as much BTMX / BTMXP as you’d like. The auction will close at your bid or better if you are amongst the top-250 best bids. So please bid aggressively to win.
Detailed Terms & Conditions:
- There are no BTMX holdings or trade volume requirements for users to participate in the Uncapped Auction. Uncapped Auction allows participants to bid for the chance to win a tranche of 1,000 XPRT. 250 participants will win the uncapped auction with a total auction allocation of 250,000 XPRT.
- The Starting Bid is 400 USDT, indicating a price of $0.40 per XPRT. However, users may also bid as much BTMX or BTMXP as they’d like to increase their likelihood of winning the auction.
- Each AscendEX user can place multiple bids but can only win a single tranche of 1,000 XPRT in the Uncapped Auction.
- Auction bid priority is (1) BTMX / BTMXP with the conversion ratio of 1 BTMX=10 BTMXP; (2) Bidding Time.
- Uncapped Auction will be closed at the USDT + BTMX or BTMXP price submitted by the 250th best bid.
- The BTMX / BTMXP bid component of the auction serves as a tiebreaker. For example, those that bid a greater amount of BTMX or BTMXP will win the auction.
- In the event that >250 of the most aggressive Uncapped Auction participants all bid 400 USDT + the same value worth of BTMX or BTMXP, the winners of the Uncapped Auction will be those that place their bids first. Bids submitted by participants 1 - 249 (i.e., participants willing to pay the greatest value of BTMX or BTMXP in addition to 400 USDT) may be partially refunded within 2 hours after the auction.
- Any BTMX collected from this auction will be converted into BTMXS being permanently locked up. Please note that BTMX consumption in the XPRT Standard Auction will result in BTMX release from the private sale portion.
- From 1:00 p.m. UTC to 2:00 p.m. UTC on March 31, users can place bids in both the Standard and Uncapped auctions. Only USDT, BTMX, and BTMXP in a user’s Cash Account can be used as payment in the auctions. 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.
- To increase likelihood of winning in the Standard Auction, a user should monitor the 750th bid closely and submit bids that are greater than or equal to the 750th bid. If the Bid Cap is submitted by >750 participants, a user can still have their bid being included in a random draw by submitting the Bid Cap.
- The Uncapped Auction will close at the USDT + BTMX or BTMXP price submitted by the 250th best bid. It means that a user can bid a BTMX (or BTMXP) quantity well above the 250th bid and potentially have their bid partially refunded.
- The logic of the Uncapped Auction is designed to achieve that all winners will pay the same price; Therefore, a user does not need to be concerned about paying a premium relative to other participants in the Uncapped Auction.To increase likelihood of winning in the Uncapped Auction, a user should monitor the 250th bid closely and submit bids that are greater than or equal to the 250th bid.
- For users who do not win the bid, their USDT and BTMX (or BTMXP) bids will be fully refunded within 2 hours after the auctions.
- At the end of auctions, winners need to submit the AscendEX account and auction confirmation code on Persistence's official website by April 1, 11:00 a.m. UTC. Failure to timely submit the required information will be deemed as the users’ voluntarily forfeiting their bid item(s). In the event of such forfeiture, the USDT and BTMX (or BTMXP) bids will be refunded by April 1, 4:00 p.m. UTC.
- Bid Item Distribution Window: April 1, 11:00 a.m. UTC - 1:00 p.m. UTC.
- Users are required to complete KYC 2 verification in order to be eligible for participation.
- Users must agree to and sign the XPRT Auction Agreement.
- Only users from the jurisdictions where local laws and regulations permit are eligible for participation.
- Eligibility requirements for Uncapped Auction: Meet the criteria of 1, 2, and 3;
- Eligibility requirements for Standard Auction: Meet the criteria 1, 2, 3 and trailing 5-day average BTMX holdings ≥10,000 BTMX or trailing 20-day trade volume ≥30,000 USDT.
Users from the following regions are NOT eligible for participation:
Chinese Mainland, Panama, Pakistan, Mongolia, Iceland, Ghana, Botswana, The 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, and Yemen.
AscendEX 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.
March 25, 2021
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