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.
- 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.
- 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.
- 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.