Partnership with BlockPool, Bibox launches staking 2.0, also known as “Hold as Staking”. In this innovative economic model, users can enjoy up to 24% annualized returns as staking rewards and become the first holders of the BlockPool’s native token, BPT with holding the corresponding tokens in Bibox.
BlockPool is the project of Bibox Orbit 3. BPT has no circulation besides Bibox Orbit and this event.
BlockPool is a high-performance hardware-piloted public chain commissioned by HPB. It is composed of senior personnel pulled from various backgrounds including blockchain, hardware chips, and artificial intelligence, all of whom are committed to building a world-class mining pool. BlockPool will power its blockchain and hardware technologies and the impact of existing HPB partners and communities to work with projects and groups to attain greater benefits for our users.
During this event, Bibox users will be rewarded automatically with holding ATOM in “My Wallet” or “Exchange Account”. We will support Staking service for more high-quality tokens.
- Event Starting Time: 08/18/2019 (GMT+8), the first staking rewards will be distributed on 08/19.
- Users authorize the platform to use their ATOM assets for staking. Users will gain staking reward with holding ATOM.
- The staking reward is BPT with an annualized returns up to 24%. Learn more on the Event Page.
- Initial BPT price will be 0.014 USDT, which will be consistent with the market price of BPT/USDT after the trading pair listed.
- Bibox will take snapshots of ATOM assets of users in “My Wallet” and “Exchange Account” from 10:00 A.M. to 11:00 A.M. (GMT+8) every day and serve as basis for staking reward.
- In order to ensure the maximum staking profits and the mobility for users, Bibox will dynamically adjust the daily staking proportion and achieve automatic balance according to the algorithm.
- All Bibox users are eligible to participate in Staking. The participation in Staking will not affect ATOM withdrawal and trading, users can trade ATOM at any time. If users no longer hold ATOM after transaction, they will not gain staking reward any more.
- ATOM staked by the original "One-click Staking" will be automatically unlocked to the user account and participate in this event, which does not require 21 days of redemption process.
*The BPT reward for this Staking event is about 0.3% of the total circulation. Users can also subscribe the 5% initial circulation of BPT through Bibox Orbit III*
- Reward Distribution. Staking rewards will be calculated every day and distributed to “My Wallet” from 8:00 A.M. (GMT+8) the next day.
- If the user's assets are less than 10 ATOM according to the snapshot, he/she will not be eligible for Staking; If the user's daily reward is less than 1 BPT, then the reward will not be distributed.
- There will be a potential risk that users may not be able to withdraw his/her designated ATOM in a timely manner. Bibox will use its best efforts to avoid such inevitably delay. However, in order to ensure the smooth withdrawal process, users who need to withdraw their respective ATOM assets shall have to follow the withdrawal sequence.
- The Service provided by Bibox herein will only involve ATOM. If users encounter the withdrawal sequence, the said user may choose to exchange ATOM with other tokens, and withdraw the exchanged tokens immediately. Bibox provide the leading trading depth and experience.
- Bibox reserves the right of final interpretation of this event.
Risk Warning: The Digital asset market is volatile and investors need to reasonably evaluate their risk tolerance and participate as appropriate. The content of this announcement and the information on the event page do not constitute any investment suggestions.
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