BitMax.io to Support Algorand (ALGO) 200-Milion Staking Rewards Program

Dear BitMax.io Users,

BitMax.io will support Algorand (ALGO) 200-Million Staking Rewards Program. Details are as follows:

200 Million ALGO Staking Rewards Program

In support of the ongoing growth of its network and ecosystem, Algorand will distribute 200 million ALGO staking rewards to qualified participants. Rewards will be distributed over the course of four 6-month periods (i.e. 50 million ALGO rewards per period) spanning across two years (September 1st, 2019 - September 1st, 2021). For further details, please refer to 200-Million ALGO Staking Reward Program.

ALGO Reward Distribution Methodology

1. BitMax.io will keep track of user’s ALGO balance at all times. User’s ALGO position will be calculated based on the user’s ALGO balance and holding period. 

User’s ALGO Position = User’s ALGO Balance * User’s Holding Period

2. ALGO Individual User Distribution = (User’s ALGO Position / Aggregation of Total User ALGO Position) *Total ALGO Balance on BitMax.io. 

Distribution Schedule:

Rewards will be distributed every six months. The first distribution is scheduled on March 5th, 2020.

Note: Total ALGO reward distributed to BitMax.io will be calculated and decided by Algorand.

Thank you for the continued support.

BitMax.io Team

Aug 29th, 2019

Telegram Group: https://t.me/BitMaxioEnglishOfficial