Dear HiBTC users,
FomoHIBT prize pool has been upgraded to version 2.0, the rules are shown as is below:
1. FomoHIBT Prize pool
HiBTC creates a prize pool growing in size coinciding with the exchanges growing incomes. Once HIBT price ≥ trigger price, the prize pool will be triggered and all the prizes will be distributed according to the final HIBT contribution rankings.
2. Interpretation of FomoHIBT rules
During every accumulation of the prize pool, the HiBTC will put 100% of the daily dividend of the “Holder Shared Fund” account into the prize pool. Once HIBT hits a certain price, the prize pool will be triggered. All coins or tokens in the prize pool will be automatically distributed among all HIBT positive contributors according to the final HIBT contribution rankings.
The prize pool: HiBTC shall put 100% of the daily dividend of the “Holder Shared Fund” account into the bonus pool every day before the trigger price is reached.
- HIBT trigger price is pre-set at the beginning of each round. If the price of any HIBT trading pairs becomes greater than or equal to the trigger price at any particular time, the prize pool will be triggered for release.
If the prize pool is over 300,000 USDT or the price is not triggered within 15 days, the trigger price may be adjusted to a lower level but no lower than 70% of its current trigger price.
To avoid abnormal price fluctuation influences, which may trigger the result indirectly, we will use ETH and BTC pricing from CoinMarketCap to calculate HIBT/USDT price of HIBT/ETH and HIBT/BTC trading pairs.
- The start time of each round will be unfixed, although we will pre-notify the community of the start time at least 1 hour prior to the start of each round.
The HIBT Ranking Contributions will be reset every 24 hours from the start time if the prize pool is not triggered. During one ranking reset cycle, if the prize pool is triggered, the ranking will go continue until this cycle ends and become the final ranking.
HIBT Contribution = HIBT Buying Amount - HIBT Sell Amount - HIBT withdrawal.(Note: Deposit and mining output HIBT will not be counted in contribution value)
The Round X start at 18:00 on Day 1 and the prize pool is triggered at 19:20 on Day 2, 20 minutes after the initial 24 hour period, therefore the ranking end time of round X is 18:00 the following day, Day 3. Subsequently if Round Y start at 18:00 on Day 1 and the prize pool is triggered at 17:20 on Day 2, 40 minutes prior to the 24 hour period, the ranking end time of round Y is 18:00 on Day 2.
- HiBTC will distribute the bonus according to the final ranking of the HIBT contribution leader board. Top three winners will get 40%, 20%, 10% of the prize pool，the one who triggered the price will get 10%, the remaining 20% will be assigned to other HIBT positive contributors during the last ranking reset cycle according to the proportional contribution.
- HiBTC will email the top three winners of each round. In order to receive your prize, the top 1 winners need to manually lock HIBT in 30 days, and other winners need to manually lock HIBT in 15 days. The locking amount should be equal to their HIBT positive contribution. HIBT locked before the current round will not be counted.
The Top three winners have 24 hours to lock their HIBT. If a top three winner forgoes their prize or fails to lock in time, all his/her prize will be contributed into the next prize pool round.
- HiBTC will manually check the transactions of each of the top three winners. If we find someone cheating, he/she will be disqualified. Their prize subsequently will go into the next prize pool round. This may take sometime and delay the prize pool distribution up to an hour.
HiBTC shall be committed to the unique innovative model of HIBT and try to bring more premium trading experience and more bountiful incomes for all investors. Thanks again for all investors’ support for HiBTC. Lets work together in forging ahead!