IEO Insurance coupon program (INC)
1. Purpose of INC
The purpose of INC is to protect Bvnex.com users from losing money in participating IEO(Initial Exchange Offering) activities within the platform.
2. Insurance Mechanism
- Every INC worth 1 USDT worth insurance
- Within 7 days after the IEO token is listed with Bvnex.com exchange, if the price of the IEO token has been lower than the IEO price for over 24 hours, INC insurance will thus triggered, INC will cover loss to IEO users who sold their token below the IEO price.
Cover value = ( IEO price - Selling price ) x Trade Volume
IEO price : 1 USDT / token
Selling price : 0.5 USDT / token
Trade Volume : 100 tokens
Cover Value = (1-0.5)*100 = 50 USDT
- INC only apply with selling tokens gained from IEO activities within Bvnex.com, INC is not applicable for any loss caused by selling token purchased in the secondary market or any other approaches.
- The insurance will only be judged after 7 days of token listing on Bvnex.com.
- For users who holds INC, the equivalent INC of investment amount will be deducted from INC balance.
- To cover the loss, the pay back will trigger within 24 hours after the judgement.
- INC is not tradable.”