BitMax.io will list xDai Chain (STAKE) under the trading pair of STAKE/USDT.
Deposits & withdrawals will start on April 23rd, 10:00 a.m. EDT. Trading will start on April 29th, 10:00 a.m. EDT.
xDai Chain is a USD stable blockchain launched through a collaboration between the MakerDAO Foundation and POA Network. It is also a sidechain compatible to Ethereum that uses xDai (a stablecoin issued with value 1-1 pegged to Dai on Ethereum) as native token for payment and gas, and governs through a new Proof-of-Stake algorithm — POSDAO via a chain-agnostic staking token named “STAKE”.
xDai Chain avoids the necessity of holding ETH to pay for gas on Ethereum, rather, transactions and fees on the sidechain are paid with a single token, allowing for fast, cheap payments. This unique feature also makes applications built for payments and DeFi easily deployable. In the future, this model will be further extended to stable coins besides Dai and blockchains other than Ethereum, whereas STAKE will continue to serve as a governance token for these initiatives.
- Seed Round：1,408,451，16.5%；
- Private Round：562,500，6.6%；
- Ecosystem Fund：4,000,000，46.9%；
- Foundation Reward：699,049，8.2%；
- Advisor Reward：651,000，7.6%；
- Liquidity Fund：816,500，9.6%.
Besides, STAKE token will have a certain level of inflation as rewards for staking participants, exact figure to be determined.
Token Vesting Schedule:
- Seed Round: 25% released at listing, 10% at day 28, remaining 65% distributed during the next 224 days;
- Private Round: 25% released at listing, 10% at day 28, remaining 65% distributed during the next 224 days;
- Auction: 100% released at listing;
- Ecosystem Fund: Begins 336 days post listing, continues daily for 336 days;
- Foundation Reward: Begins 84 days post listing, continues daily for 252 days;
- Advisors Reward: Begins 84 days post listing, continues daily for 252 days;
- Liquidity Fund: 187,500 released at listing, used for global liquidity and validator onboarding.
STAKE inflationary reward will start at phase 2 of POSDAO (84 days post listing) and will be gradually released to staking participants.
- Initial Supply：8,537,500
- Initial Circulating Amount：1,079,487
- Initial Offering price: $0.40 – $0.55
About the Auction:
|Project Name||xDai Chain|
|Initial Total Supply||8,537,500 STAKE|
|Initial Circulating Supply||1,079,487 STAKE|
|Total Bid Items||400,000 STAKE|
|Auction Type||Incremental Auction|
|Round of Auction||1 Round|
|Auction Period||120 Minutes|
|Bid Item||1,000 STAKE|
|Bid Item Description||Winners of the bid will be eligible to win a 1,000 STAKE at the 400th bid price.|
|Starting Bid Price||400 USDT|
|Bid Cap||550 USDT|
|Lock-up Mechanism||No Lock-up|
|Bid Item Distribution||April 29th, 8:00 a.m. EDT – 10:00 a.m. EDT|
Terms & Conditions
- Bid Item: 1,000 STAKE; Total Bids: 400; Starting Bid Price: 400 USDT; Bid Price Cap: 550 USDT.
- The starting bid price and incremented bid price must be integral multiples of 1 USDT, and cannot be lower than the 400th bid price.Only USDT in the Cash Account is eligible to be used as payment in the auction. Once the bid is submitted, the corresponding number of incremented USDT will be deducted from the Cash Account.
- Users can place a higher bid at incremental amount to the earlier bid. The last one will be deemed as the final bid.
- Each user account is limited to one bid item.
- Upon the conclusion of the event, the top 400 users ranked by bidding price will win the bid item. For multiple bids at the same price, the bid that is placed first or earlier will prevail.
- For those 400 winners, they will only pay the auction price as the 400th bid and the excess amount over that will be refunded to their own user accounts.
- The winning user needs to submit their BitMax.io account and auction confirmation code on xDai Chain official website by 7:00 a.m. EDT, April 29th. Failure to timely submit the information will be deemed as the user voluntarily giving up the bid. So, the initial payment of USDT will be refunded.
- The refund for a) the excess USDT payments of those 400 winners, b) the USDT payments from users who lose the bid and c) users who fail to timely submit auction confirmation code on xDai Chain official website, will be distributed to their own user accounts between April 29th, 8:00 a.m. EDT to April 29th, 10:00 a.m. EDT.
- Bid Item Distribution: to be fully distributed between April 29th, 8:00 a.m. EDT to April 29th, 10:00 a.m. EDT.
- BitMax.io reserves the final right on the interpretation and adjustment of these Terms and Conditions. For any abusive or suspicious activities, the users will be disqualified from the auction once identified.
1. Users are required to complete KYC 2 verification and Google 2FA in order to be eligible for participation.
2. Users must have a BTMX Position ≥ 2,500 in Cash account (includes BTMX with a pending unlock status from a private sale).
3. Users must agree to and sign STAKE Auction Agreement.
4. Only users from the jurisdictions where local laws and regulations permit are eligible for participation.
Restricted Countries/Regions – users from the following regions cannot participate:
United States, Balkans region, Belarus, Myanmar, Côte d’Ivoire, Cuba, Democratic Republic of the Congo, Iran, Iraq, Liberia, North Korea, Sudan, Syrian Arab Republic, Zimbabwe, Algeria, Bangladesh, Bolivia, Cambodia, Ecuador, Nepal, Afghanistan, Burundi, Central African Republic, Singapore, Ethiopia, Guinea, Guinea-Bissau, Lebanon, Sri Lanka, Libya, Serbia, Somalia, South Sudan, Thailand, Tunisia, Trinidad and Tobago, Ukraine, Uganda, Venezuela, Yemen.