BitForex will use 80% of the mining token’s trading fees as BF buy-back. In the future, BF holders will have the right to participate in platform building major decisions and community management.
BF token contract address：0x5b71bee9d961b1b848f8485eec8d8787f80217f5
How to get BF?
Users can get BF through trade mining, invite mining, community ecosystem building welfare or some other ways.
Platform Income Sharing Mechanism
BitForex will use 80% of the mining token’s trading fees as BF buy-back; other 20% will be used to develop and operate BitForex ecosystem.
BF Trade Mining
Starting from Aug 1st, 2018, BitForex will release and issue 40% of BF in trade mining mode. 120% of user trading fees will be distributed in form of BF; 80% are circulating BF and 40% are holding BF. More
BF Trade Mining Time: Pre-mining starting at 12:00 am until 23:59:59 HKT, Aug 1st, 2018; mining starting at 12:00 am HKT Aug 2nd, at the same time, BF/USDT trading would start at 12:00 HKT.
Please note: During the pre-mining period, and the first hour of BF trading, BF token price initiated at 0.05USDT, to calculate the amount mined out on BTC/USDT, ETH/USDT, BCH/USDT trading.
Community and Ecosystem Welfare
24% of BF will be issued in through invite mining and other community welfares.
Among these, 4% are issued through invite mining, which is divided into invite trading and invite holding. The inviter shares invitation link to invites friend to sign up on BitForex. After the invitee completes registration, the inviter gain invite mining welfare through invitee's trading and holding.
BF Token Distribution Plan
BitForex use "mining-releasing synchronize" mechanism to complete issuance of BF. 64% of BF will be rewarded to users in the way of "mining"; 36% of BF will be issued through cornerstone, private placement and founding team encouragement. The detailed distribution proportion is as follows:
40% - Trade Mining
24% - Community and Ecosystem Welfare
20% - Team Encouragement
8% - Private Placement
8% - Cornerstone
Mining Part：Users gain BF through trading or invite mining. Release every day.
Holding/Lock Position Part: Unlock in a certain rate according to BF holding total amount. The rule of the rate is as follows:
Private Placement BF: after being locked for 2 months, unlock 10% every month;
Holding BF gained through Mining and Cornerstone Lock BF: convert into circulating BF at a floating rate of five in ten thousand to ten in one thousand of lock BF total amount a day, initial rate: eight in ten thousand;
Team Encouragement Part: lock for 4 years, unlock 5% (of total BF) at the end of every year