[Initial Reviewing] Voting pool
Our token listing committee will select qualified projects into the voting pool from all listing applications through our official application link. The selection criteria are based on both investing value and risk evaluation. The second voting list will be announced separately. Please pay attention to our announcements for updated information and press releases.
[Voting] Voting Rules
1.Voting Period
- The voting period will be 7 days at 24 hours
2.Voting Specification
- Our token listing committee will select qualified projects into the voting pool from all listing applications
- The voting result is decided by polling number, total vote count, and time first principle. If two teams have the same polling number, the team with larger total voter count wins. If vote counts are equal, the team who reached total vote count first wins. 2 projects will be the final winners.
- After the vote ends, Bibox will do a complete examination and analysis on the votes of the winning teams. Projects are disqualified if cheating behavior is detected.
- After Bibox ensures the validity of the votes, the winners will be announced.
- The BIX voted for the other teams that lost this session of voting will be refunded to users within 2 days since the announcement has been published to ensure a fair competition during the next session of voting.
- The teams that lost voting can choose to quit or join the next session of voting. The guaranty fund will not be returned if the team decides to participate the next session of voting. If the team decides to quit, the guaranty fund will be returned in 2 business days.
- Each project can participate in 5 sessions vote for listing activities, and the project will be disqualified for voting if it loses all 5 sessions vote. The guaranty fund and the BIX voted by users will be returned.
3.Token Listing
- The winning tokens will be listed on Bibox in trading pairs within 7 business days. The first place token will be listed first.
- Before listing, the winner has the right to choose to quit the listing if they reach this consensus within team and community. They will need to issue an official quitting application with Bibox. The guaranty fund and BIX paid by users for the vote will be returned back to each party (project team and user). After listing, the team automatically forgoes this right and will not be issued a refund.
- Each candidate project needs to contribute an amount of BIX as guaranty fund. This guaranty will be deposited in Bibox, and will be returned to the project team in 12 months. In the event that the token triggers delisting, the unreturned part of the guaranty fund will be used as compensation for users.
4.Voters
- 1 BIX stands for 1 vote. Each user can vote 50000 BIX maximum. Votes can’t be canceled upon voting.
- For each voting cycle, each user can vote for 3 projects maximum. And there are only 3 voting opportunities for each project.
- Only users with net asset equal or larger than 200 BIX equivalents can participate in voting.
- Users from countries or regions where cryptocurrency and related activity is forbidden by government or laws shall not participate.
5.Incentives For Voting
- Bibox set up the incentive mechanism for this round of voting to encourage user participation and protect community autonomy.
- The incentive award is set by the project team, for example, users will get 0.1 token for each vote they give. And a total bonus is also welcomed, it can be set as all voters share 1000 token together. And above is just a example and not mandatory.
- Token team can change the award plan one time every day. The token given to voters will based on the number set by the team.
- Voting reward given out by each project will be distributed to users who vote in three installments. 1/3 of the voting reward will be distributed on the day of listing. The rest of it will be distributed every 7 days until all is distributed.
BIX voted for the winning projects will not be returned but be absorbed as exchange profit, some of which will be used to promote the winning projects when it is being listed and the others for the development of Bibox ecosystem.
*Bibox reserve the final right of the interpretation and the right to adjust the voting rules.*
Thanks all your support for Bibox!
Bibox Team
Official website：https://www.bibox.com/
2018.08.17
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Bibox Community
Telegram： BiboxGroup
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