Join Upcoming Auctions for Exclusive Primary Listing of Stafi (FIS)

Dear Users,

BitMax announces exclusive primary listing of Stafi (FIS) under the trading pair of FIS/USDT. Details are as follows:

Deposit: Sept 9, 10:00 p.m. EDT

Trading: Sept 11, 10:00 a.m. EDT

Withdrawal: Sept 11, 10:00 a.m. EDT

Project Introduction of Stafi (FIS) 

To celebrate the listing of Stafi (FIS), BitMax will conduct two separate auctions on September 10th from 9:00 a.m. EDT – 10:00 a.m. EDT. A total of 850,000 FIS will be auctioned between a “Standard” auction with 680,000 FIS and an “Uncapped” auction with 170,000 FIS.

There will be 400 winners of 1,700 FIS in the “Standard” auction, and 100 winners of 1,700 FIS in the Uncapped Auction. Each BitMax user can only win a single tranche of 1,700 FIS (no lock-up) in each auction. Both auctions will be conducted simultaneously and BitMax users can bid in both auctions with USDT + BTMX (or BTMXP) to increase their likelihood of winning the auction; therefore, users can potentially win up to 3,400 FIS between those two Auctions. Please see below for additional details on each auction.

What is BTMXP?

Click here to participate in Stafi Auction (PC Only).

Stafi Standard Auction Overview:

Auction Key Figures						Participant Key Figures
Qty FIS (Total)	Auction Winners	Duration	Bid Item (Qty FIS)	Category	$ Fundraised	USDT Bid	BTM or /BTMXP Bid	Price per FIS (USDT)	Price per FIS (USDT + BTMX/BTMXP)
680,000	400	60 Minutes	1700	Auction Price Floor	$90,000	225	0	$0.13	$0.13
				Auction Price Ceiling (+10%)	$100,000	250	1,750 BTMX or 17,500 BTMXP	$0.15	$0.15+1.03 BTMX or 10.3 BTMXP

Terms & Conditions:

1.   Standard Auction allows participants to bid for the chance to win a tranche of 1,700 FIS. 400 participants will win the auction with total allocation of 680,000 FIS.

2.   Auction bid priority is (1) USDT, (2) BTMX / BTMXP.

3.   Each BitMax user can place multiple bids but can only win a single tranche of 1,700 FIS in the Standard Auction.

4.   Bidding starts at the USDT Auction Price Floor of 225 USDT, indicating a price of $0.13 per FIS, and is capped at the USDT Auction Price Ceiling of 250 USDT, indicating a price of $0.15 per FIS.

5.   Users may also bid up to 1,750 BTMX or 17,500 BTMXP to increase their likelihood of winning the auction. The BTMX / BTMXP bid component of the auction serves as a tiebreaker. For example, if there are >400 participants bidding at the USDT Auction Price Ceiling, then the winners of the auction will be those that bid a greater amount of BTMX or BTMXP, capped at 1,750 BTMX or 17,500 BTMXP. The conversion ratio between BTMX and BTMXP is 1 BTMX = 10 BTMXP.

6.   Standard Auction will close at the USDT + BTMX or BTMXP price submitted by the 400th best bid. If > 400 participants all bid the 250 USDT + 1,750 BTMX or 17,500 BTMXP, a random draw will be conducted to determine the winners of the auction. Any BTMX or BTMXP collected from this auction will be consumed.

7.   To support the auction with BTMXP bid component, Private Sale to BTMXP Transfer Fee will be temporarily waived starting one week ahead of the auction.

Stafi Uncapped Auction Overview:

Auction Key Figures						Participant Key Figures
Qty FIS (Total)	Auction Winners	Duration	Bid Item (Qty FIS)	Category	$ Fundraised	USDT Bid	BTMX or BTMXP Bid	Price per FIS (USDT)	Price per FIS (USDT + BTMX/BTMXP)
170,000	100	60 Minutes	1700	Auction Price Floor	$22,500	225	0	$0.13	$0.13
				Auction Price Ceiling (+10%)	$25,000	250	N/A	$0.15	$0.15+？

Terms & Conditions:

1.   Uncapped Auction allows participants to bid for the chance to win a tranche of 1,700 FIS. 100 participants will win the uncapped auction with a total auction allocation of 170,000 FIS.

2.   Auction bid priority is (1) USDT, (2) BTMX / BTMXP, (3) Bidding Time.

3.   Bidding starts at the USDT Auction Price Floor of 225 USDT, indicating a price of $0.13 per FIS, and is capped at the USDT Auction Price Ceiling of 250 USDT, indicating a price of $0.15 per FIS.

4.   Each BitMax user can only win a single tranche of 1,700 FIS in the Uncapped Auction; however, each user can place multiple bids.

5.   Users may also bid as much BTMX or BTMXP to increase their likelihood of winning the auction. The BTMX / BTMXP bid component of the auction serves as a tiebreaker. For example, if there are >100 participants bidding at the USDT Auction Price Ceiling, then the winners of the auction will be those that bid a greater value of BTMX or BTMXP. The conversion ratio between BTMX and BTMXP is 1 BTMX = 10 BTMXP.

6.   Uncapped Auction will close at the USDT + BTMX or BTMXP price submitted by the 100th best bid. This means that bids submitted by participants 1 - 99 (i.e., participants willing to pay the greatest value of USDT & BTMX or BTMXP) may be partially refunded within 2 hours after the auction. Any BTMX or BTMXP collected from this auction will be consumed.

In the event that > 100 of the most aggressive Uncapped Auction participants all bid 250 USDT + the same value worth of BTMX or BTMXP, the winners of the Uncapped Auction will be those that placed their bids first.

7.   To support the auction with BTMXP bid component, Private Sale to BTMXP Transfer Fee will be temporarily waived starting one week ahead of the auction.

Notes:

1. Only USDT and BTMX (or BTMXP) in the Cash Account can be used as payment in the auctions. For the first bid, the bid quantity cannot be lower than the Starting Bid Quantity. Once the bid is submitted successfully, the corresponding amount of USDT and BTMX (or BTMXP) will be deducted from the Cash Account.

2. Users can submit bids multiple times. The initial bid quantity and new bid quantity must be integral multiples. The USDT/BTMX (or BTMXP) quantity in the new bid cannot be lower than the last bid. Once the new bid is submitted successfully, the corresponding amount of incremented USDT/BTMX (or BTMXP) will be deducted from the Cash Account. The last one will be deemed as the final bid.

3. Users can use BTMX or BTMXP (but NOT both) to increase the likelihood of winning in each auction.

4. At the end of auctions, winners need to submit the BitMax.io account and auction confirmation code on Stafi official website by Sept 11, 8:00 a.m. EDT. Failure to timely submit the information will be deemed as the users’ voluntarily forfeiting the bid item of 1,700 FIS (or 3,400 FIS). In the event of such forfeiture, the USDT and BTMX (or BTMXP) bids will be refunded by Sept 11, 12:00 p.m. EDT.

5. 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.

6. For winners who successfully submit the auction confirmation code, their BTMX bids will be fully converted to BTMXS and subject to permanent lock-up. Please note that BTMX consumption in the Stafi (FIS) auctions will NOT result in BTMX release from the private sale portion.

7. Bid Item Distribution Window: Sept 11, 8:00 a.m. EDT - 10:00 a.m. EDT

Eligibility Rules:

1. Users are required to complete KYC 2 verification in order to be eligible for participation.

2. Users must agree to and sign the Stafi (FIS) Auction Agreement.

3. Only users from the jurisdictions where local laws and regulations permit are eligible for the participation.

Restricted Countries/Regions

Users from the following regions are not eligible for participation:

Mainland China, 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, Yemen.

BitMax.io 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.

BitMax.io Team

Sept 4, 2020

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