Bibox Launches “Contract Mining”

Contract Mining Features

1. Contract trading as mining
2. Enjoy up to 12-month dividends
3. BIX repurchase and burn, accelerating deflation and improving BIX values
4. Co-build contract ecosystem, enjoy high-potential expected annualized income

Event Rules

1. Event Time

08/30/2019 3:00 P.M. – 11/28/2019 3:00 P.M. (GMT+8)

2. Participation

During the event, users can choose to participate in "contract mining" at any time and mine by undertaking contract transactions (BTC/USDT, ETH/USDT, EOS/USDT, BCH/USDT and LTC/USDT). The contract transaction fees will be adjusted according to Table 1-1:

Participants		Non-participants
Maker 0.01%	Taker 0.05%	Maker -0.01%	Taker 0.06%

Table 1-1

3. Mining Rules

• The contract leverage of participants will be adjusted to 1x by default.
• The mining reward is BIX_1. The price of BIX_1 is pegged at 1 BIX, which will be the average transaction price of BIX/USDT one hour before each "mining cycle".
• Every 10 minutes is a "mining cycle", the platform will distribute mining rewards according to the time sequence of all contract transactions in each mining cycle.
• Mining Reward: The maximum mining amount in each cycle is 350 BIX_1 and the daily maximum mining amount is 50,400 BIX_1; Bibox Ambassadors will enjoy 10% extra mining rewards.

Upgrade Benefits

I. Basic Mining Benefits（8.30 ~ 2019.11.28）

1. Daily Dividend

During the event, users who participate in contract mining will enjoy daily dividend:

Daily Dividend = (The amount of BIX_1 mined by the user/ total amount of BIX_1 mined) * total contract transaction fees received by Bibox on that day * 25%

Dividend Distribution: Daily dividend will be distributed to “My Wallet” in USDT after 10:00 A.M. on the next day.

2. Repurchase and Burn

After the event concludes, Bibox will use 46% of the contract transaction fees received during the mining event to repurchase and burn 46% of the BIX_1 mined by the users.

Repurchase Price (USDT) = Contract transaction fees during the event * 46% / (total amount of BIX_1 mined * 46%)

3. Contract Transaction Fees Allocation

During the event, contract transaction fee received by Bibox will be allocated as shown in the Table 1-2:

Percentage	Allocation
25%	Daily Dividend
46%	Repurchase and burn 46% of BIX_1 mined
20%	Repurchase BIX from secondary market and burn monthly
9%	Team development

Table 1-2

II. Long-term Benefit（2019.11.29 ~ 2020.8.25）

1. Weekly Dividend

Users who hold the remaining 54% BIX_1 will enjoy weekly dividend as follows:

Weekly Dividend (USDT) = (The amount of BIX_1 held by the user/ the total amount of remaining BIX_1) * total contract transaction fees received by Bibox on that week * 20%

2. Monthly Repurchase and Burn

We will repurchase and burn the remaining 54% of BIX_1 in 9 months

Repurchase Price (USDT) = Contract transaction fees received on that month * 30% / (total amount of BIX_1 mined * 54% / 9)

3. Contract Transaction Fees Allocation

Bibox will allocate all contract transaction fees received during this period as the Table 1-3:

Percentage	Allocation
20%	Weekly Dividend
30%	Repurchase and burn 54% of BIX_1 mined monthly
30%	Repurchase BIX from secondary market and burn monthly
10%	Reserved for follow-up contract events
10%	Team development

Table 1-3

Special Notes

1. The mining reward is BIX_1. The price of BIX_1 is pegged at 1 BIX. Bibox will repurchase and burn BIX_1 and BIX_1 will not circulate in the market or be used for trading.
2. The contract leverage of participants will be adjusted to 1x by default. Users should rationally adjust their trading strategies according to their own conditions; if the user's own operation results in financial losses, the platform will not bear relevant responsibilities.
3. The contract transaction fees for participants shall be executed in accordance with the mining standards, and the normal rate shall be restored after the event.
4. This event is not compatible with contract commissions.
5. Users read and agree “Contract Mining Participation Agreement” to participate in contract mining. Once participating, early exit is not allowed.
6. Due to the large number of participants, the data update of the event page during mining may be delay due to network issue and other reasons. The mining amount in “Mining History" shall prevail.
7. To ensure the fairness of this event, cheating is prohibited. Once cheating is confirmed, all the rights associated with the violator will be suspended. If the case is severe, the accounts associated with the violation will be suspended permanently.
8. Due to market changes or other irresistible factors, the platform reserves the right to adjust the relevant rules of this activity according to the actual situation. Bibox owns 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.

Thanks for your support on Bibox.

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Bibox Team

Official website：https://www.bibox.com/

08/27/2019

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