Dear BitForex users,
Telegram Open Network (GRAM) has attracted the attention of cryptocurrency enthusiasts around the world. In order to meet their needs, BitForex has entered into strategic cooperation with Telegram Open Network private token sale participants and currently has the right to use 1 million Telegram Open Network GRAM tokens.
GRAM will be online in the form of physical delivery futures. All users who hold BitForex GRAM futures contracts when they expire will be able to redeem the GRAM physical assets 1:1 following the launch of the TON mainnet.
Event period: 2019/07/10 at 12:00 (GMT+8) until 3rd day after TON mainnet opens at 24:00 (GMT+8)
- Users can borrow GRAM with USDT as the collateral, and trade using the GRAM/USDT market;
- Users can return the GRAM borrowed anytime and get their USDT collateral back;
- GRAM open price is 0.5 USDT;
- Loan Ratio: 1 GRAM = 10 USDT;
- Maximum borrow amount is 10000 GRAM per user;
- Minimum borrow amount is 1 GRAM per user;
- Borrow GRAM:
- Starting time: 2019/07/10 at 12:00 (GMT+8)
- Closing time: 1 day prior to TON mainnet launch, at 24:00 (GMT+8)
- Redeem USDT:
- Opening time: 2019/7/15 at 12:00 (GMT+8)
- Closing time: the 5th day after TON mainnet opens at 24:00 (GMT+8)
- Deposit: 1hour after the TON mainnet opens
- Withdrawal: Open on the 5th day after TON mainnet opens
- No conversion fees during the event;
- BitForex reserves the right to cancel or amend the event or event rules at its sole discretion.
Forced liquidation risk reminder:
When the GRAM market price >= total asset value + USDT collateral * 80%, it will be considered as forced liquidation, the platform will take over the corresponding amount of USDT collateral.