BitMax.io Transaction Mining Rules (Preliminary)

BitMax.io is introducing Transaction Mining as an incentive for trading on the BitMax.io platform. 

The limit of 10 billion BTMX utility tokens is strictly imposed without any further increase.  49% (4.9 billion) of total issuance has been pre-distributed, and 51% (5.1 billion) will be released and distributed to incentivize users for daily participation in transaction mining.

1. Platform: The hourly amount of BTMX token to be mined out from the platform = Total transaction fee generated per hour /  Current hourly average price of BTMX ⁽¹⁾ * Mining Reference Variable (see point 2) 

User:  The amount of BTMX returned to the user per hour = Individual user’s hourly transaction fee paid / The average price of BTMX at the current hour * Mining Reference Variable

Note 1: The current hourly average price of BTMX is calculated from the average price of the last transaction per minute.  This will be announced at the end of each hour.

2. Mining Reference Variable= Target daily mining rate / Actual mining rate in the past 24 hours

• Mining reference variable will be set at the top of each hour based on target daily mining rate and the actual mining rate in the past 24 hours.
• Target daily mining rate will be published daily on the platform.
• The range of mining reference variable is between 1 and 0.1.

3. Timing of Distribution: BTMX will be distributed to the user on the hourly basis according to the individual mining activity.

In addition, the following preliminary rules will be announced soon:

• Rules on Platform Transaction Fee Distribution for Data Sharing
• Lock-up Rules
• BTMX Consumption Rules

Thanks for your continued support.

BitMax.io Team