Dear HIBTC users respectfully,
As the sharing digital asset trading platform which is safe, highly efficient, transparent and orderly, HiBTC adheres to the principles of openness, transparency and community autonomy; it will launch HiBTC Token (HIBT) groundbreaking mining, which is authorized by the community.
HIBT is the only token authorized by HiBTC trading platform and HiBTC’s proof of stake. Its total amount is 10 billion and such amount shall not grow. 50% of HIBT is unmined, which will be gradually sent to the community members by “Transaction + holding currency” mode as gift; 43% of it needs to deblock, which is mainly given to token holder’s sharing currency, founding teams and strategic partners. This part is also deblocked with unmined HIBT in the same proportion. The last 7% is what investigated in the early time; this part is mainly given for the basic investigators and the promotion participants.
The detailed rules for groundbreaking mining are as follows:
- Time: 1:00~11:00, August 17th, 2018 (UTC)
- Total amount: 10,000,000 HIBT
- Superior limit of mining: The basic superior limit for individual is 2,000 HIBT. Upgrading miner’s level can enhance the superior level accordingly. What is beyond the superior limit will not be granted;
- Participant’s specification: With real name authentication;
- HIBT price: 1 HIBT=0.02USDT；
- The participated transaction pair: All pairs in the main area;
- Poundage: As groundbreaking mining launched, HiBTC will charge two-way poundage, which is 0.1% of all the trades;
- During groundbreaking mining, all the participants with real name authentication can take part in. HIBT with corresponding value can be mined when the participants make any deal of mainboard transaction and have poundage.
Under the circumstance where the superior limit is not exceeded, the amount of mined HIBT made by the user’s single trade is (Qi× Pi÷ PHIBT)×α%
In the above formula:
Qi is the amount of paid poundage;
Pi is the unit-price of the poundage in the paying time;
PHIBT is the unit-price of HIBT poundage in the paying time;
α% is the time of paying poundage and the participant’s poundage refund ratio. α% varies with the miner’s level.
Miner’s level: During groundbreaking hours, the lower level of all the participants is Lv1, those whose level is above 1 varies with the situation of holding HIBT. The detailed rules are as follows:
Miner’s level The lower limit of holding HIBT Poundage refund ratio in the secondary hour (a%) Superior limit ratio of mining in the secondary hour Lv0 0 0 0 Lv1 1000 100% 100% Lv2 3000 102% 120% Lv3 10000 105% 150% Lv4 100000 110% 300% Lv5 1000000 120% 800%
User is free to adjust the amount of HIBT during the first 30min of each hour, which will not affect the level in the secondary hour. In the second 30min of each hour, the level in the secondary hour is accounted by the minimum amount of HIBT held by the user.
HIBT’s granting: HIBT generated by mining will be granted to user’s wallet within 1 hour.
HIBT transaction pairs are temporarily closed during groundbreaking mining. HIBT transaction pairs are expected to release with formal mining in 0:00am, August 18th (UTC).
During groundbreaking mining, the price of HIBT is invariably 0.02USDT, and the superior limit of basic mining is 2000HIBT per hour.
If user A is Lv3 miner and he or she pays 65 USDT poundage within an hour,
The maximum poundage available for user A to mine is 2000*150%*0.02=60 USDT,
And the actual HIBT obtained by A within this hour is （60/0.02）*105%=3150 HIBT
HIBT will fully play the value of HiBTC’s value added service of authorization. The holder of HIBT can not only enjoy the privilege of major decision, election, supervision and recommendation of major currencies and so on. Meanwhile, by the means such as controllable overall mining speed, enhancing mining interest of currency holding and transparent bonus and so on, HiBTC will maintain stable HIBT price, protect the community member’s rights and interests, and ensure a healthy and sustainable HiBTC community.
HiBTC is looking forward to your arrival in August 17th, 2018. Safer trading is guaranteed in HiBTC.
August 11th, 2018