Bibox, one of the world’s largest crypto exchanges, announced to launch its Initial Exchange Offering (IEO) platform, dubbed “Bibox Orbit”, at 8 p.m. on April 22, 2019 (GMT+8), aiming to excavate and boost the launch and the development of high-quality decentralized projects, per its official statement.
In light of a fair and just principle, Bibox adopts lottery format for its token launch platform, Bibox Orbit, giving everyone an equal opportunity to participate.
“One of our intentions to launch Orbit plan is to help promote the application of premium projects. Bibox Orbit assists the budding premium project with ecological construction and long-term development, which would surely contribute to a robust blockchain and cryptocurrency market. Bibox Orbit, more importantly, is to provide the growing crypto users an easy and safe access to quality projects” Aries, co-founder of Bibox said.
What is “Bibox Orbit?”
As a quality digital assets trading platform, Bibox is focused on excavating and boosting the launch and the development of high-quality decentralized projects. Based on this vision, Bibox Orbit, gathering the years of accumulated valuable experience and quality resources of Bibox team, came into being.
Aiming to provide the best growing environment for premium blockchain projects, Bibox Orbit is a token launch platform, where premium decentralized blockchain projects are able to raise funds for their better ecosystem construction and long-term development. Meantime, Bibox Orbit offers projects’ tokens to users who will be able to contribute to its ecosystem development.
The project details are coming soon, please stay tuned for the update.
How to participate?
To make sure everyone has an equal chance to participate, Bibox is going to use a lottery format for each participant.
BIX, the Bibox native coin, is the only digital asset designated for pre-purchase payments. The pre-purchase starts at 10 a.m. on April 22, when users are able to transfer the BIX to the event page and get the numbers of the draw. It ends at 5 p.m. on the same day. The winning result will be announced at 8 p.m. on April 22, and the corresponding amount of BIX will be automatically deducted from those who win the draw. The pre-purchased token will be released to users’ accounts.
Specific rules are as follows:
- Limit of personal pre-purchase amount: The highest individual pre-purchase amount is $5,000, the highest actual amount an individual can get is $800. Users can independently allocate the maximum individual purchase amount among various projects of this phase.
- At the drawing time, all pre-purchase amount will be divided equally, and the draw will be conducted according to the proportion of the users’ total pre-purchase amount and the actual issuing amount by project teams. The Least Winning Amount will be announced on the event page.
- For a single project, in accordance with the proportion of the draw, the more you pre-purchase, the higher the probability you will win the draw.
- KYC verification is required.
Bibox, one of the world’s largest crypto exchanges registered in Estonia, has offices in the U.S., Switzerland, Canada, China, South Korea, Japan, Singapore, and Vietnam, with plans to expand to more countries. Bibox traders enjoy secure, stable, and user-friendly digital assets management services, with access to over 100 high-quality coins and over 200 trading pairs. In the last 24 hours, the daily trading volume amounted to $693 million.