Dear BitMax.io Users,
BitMax.io will list ONT and ONG under new trading pairs of ONT/USDT, ONT/BTC, ONT/ETH, ONG/USDT, ONG/BTC, and ONG/ETH at 9:00 p.m. EST on December 9th.
- ONT and ONG trading pairs eligible for two trading modes: Reverse-Mining, Regular Trading
ONG Distribution Rule
ONG is the fuel token on the ONT network and can be earned through holding the ONT. BitMax.io supports distribution of ONG for ONT held on the exchange accounts on monthly basis. The distribution schedule is as below:
- Timing of Distribution
Before midnight (EST) of the last day of each month
The first distribution will take place on 31st of December, 2018.
- Methodology of Distribution
- BitMax.io will take snapshot of users’ ONT position every day
- Individual Share of ONG Distribution = (Monthly Weighted Average ONT position / Aggregation of Total User Effective Monthly ONT Position) * Total Monthly ONG Distribution
If the user has ONT position in BitMax.io accounts for three full days in December as of 10, 40 and 50 respectively, then user’s Monthly Weighted Average Position is 10*1 + 40*1 + 50*1 = 100 ONT
If the platform Total Monthly ONG Distribution is 1,000 ONG for December and Total User Effective Monthly ONT Position is 20,000 ONT, then user’s share is (100 ONT/20,000 ONT) *1,000 ONG = 5 ONG
BitMax.io reserves the final right of adjustment and interpretation of ONG Distribution Rule.
Dec 9th, 2018