【Guide】The Rules of Bvnex IEO Campaign

Bvnex.com will start IEO campagin in a few days. Hence, we publish to the user the standardized rules framework for IEO activities on Bvnex.com. Project party will use this framework as a basis to make adjustment on time, period, etc.. But it will not go beyond this framework. Bvnex will provide detailed instructions and notifications to users for each different IEO project.

Please pay attention to Bvnex official announcement!

Standardized IEO Rules Framework

Time Period Definition

 1. Launch Project --- Start Subscribe: 2 Day

Rule:

Project Launch and users can review IEO project with details on exchange launchpad page.

2. Start Subscribe --- IEO Time: 5 Day

Rule:

Users can start to lock up USDT and subscribe to each IEO token offerings during this time period.
Lottery tickets will be assigned to users who meet the following:

User will get one ticket per day (from subscription start day till IEO time, excluding the IEO day) if his ”USDT available balance + IEO token subscription lock up amount” is equal or greater than 500.

Snapshots of account balance will be taken everyday at 11:00PM SGT and tickets will be assigned at 12:01AM (day+1).

3. IEO Time --- Publish Result: 1 Hour

Rule:

At IEO time, USDT lock-up and token subscription stops.

System randomly picks winning tickets (Lottery).

Subsequently, lottery result will be published and users can check on IEO page.

4. Publish Result --- Release Token: 2 Hour

Rule:

At this point, first portion (20%) of winning tokens will be released and users can check in balance.
Non winning lock-up USDT will be credited back to user account.

5. Release Token --- IEO End: 4 Day

Rule:

During the time, winning tokens will be released proportionally everyday (20% per day) at 5:00PM SGT and IEO ends when last portion finishes.

Calculation

1. Winning Ticket

Rule: 

The value of (Subscription Token Amount +  the amount of the same token in the Account Balance/Appointed Token by project party) ≥ 500 USDT, get 1 ticket  after daily snapshot.

2. Lucky Ticket

Rule：

Each winning ticket has a unique number in the system. When the IEO event finished, a set of random numbers will be selected by exchange system.  The exact amount of numbers is different depends on the project side. Those who don’t have any selected tickets will miss the IEO event.

Definition：

Lucky TIcket = Winning Ticket in the random pool.

3. Probability

Definition: 

Probability = the amount of lucky tickets (in the random pool) of one user

4. Winning Token

Attention: The amount of received IEO tokens cannot overrun the amount equivalent to the upper limit of subscription.

5. Example Case: Probability of Winning & Amount of Received IEO Tokens

Basic Information

Total Issued Amount = 55000 ABC

Price: 1 USDT = 0.1 ABC

Subscription Time = 7 Days

Upper Limit = 1000 USDT = 10000 ABC

Probability & Amount