Dear Users,

AscendEX is thrilled to announce the exclusive primary listing of Showcase (SHO) under the trading pair of SHO/USDT. Details are as follows:

SHOpcEN.jpg

Deposit: Apr 27, 2:00 p.m. UTC

Trading: Apr 28, 1:00 p.m. UTC

Withdrawal: Apr 28, 1:00 p.m. UTC

Project Introduction of Showcase (SHO)

Click here to participate in Showcase (SHO) Auction (PC Only)

To celebrate the listing of Showcase (SHO), AscendEX will conduct two separate auctions on April 27 from 1:00 p.m. UTC to 2:00 p.m. UTC. A total of 4,000,000 SHO will be auctioned between a “Standard” auction with 3,000,000 SHO and an “Uncapped” auction with 1,000,000 SHO.

There will be 1,500 winners of 2,000 SHO in the “Standard” auction, and 500 winners of 2,000 SHO in the "Uncapped" Auction. Both auctions will be conducted simultaneously and AscendEX users can bid in both auctions with USDT + BTMX (or BTMXP) to increase their likelihood of winning the auction. Auction results will be announced on April 27 at 3:00 p.m. UTC. Please see below for additional details on each auction.

What is BTMXP?

SHO Standard Auction Overview

Main features of the Standard Auction include price discovery with a minimum and maximum bid amount and participation by bidding 150 USDT + up to 45 BTMX or 900 BTMXP. AscendEX users can earn the eligibility to bid for additional SHO based on their trailing 6-day average BTMX holdings or trailing 28-day trade volume. If there are more than 1,500 bid items with 150 USDT + 45 BTMX / 900 BTMXP, a random draw will be conducted to select winners. So please bid the cap to stand a chance of winning.

Detailed Terms & Conditions:

  1. AscendEX users with trailing 6-day average BTMX holdings ≥ 10,000 BTMX or trailing 28-day trade volume ≥ 30,000 USDT will be eligible for participation in Standard Auction. Standard Auction allows participants to bid for the chance to win a tranche of 2,000 SHO. 1,500 participants will be selected to win the auction with a total allocation of 3,000,000 SHO.
  2. The Starting Bid is 150 USDT, indicating a price of $0.075 per SHO, and the bid cap is 150 USDT + 45 BTMX or 900 BTMXP, indicating a price of $0.1 per SHO.
  3. Each AscendEX user can place bids for up to 6 bid items in the Standard Auction based on the trailing 6-day average BTMX holdings or trailing 28-day trade volume resulting in a maximum user allocation of 12,000 SHO. Please see below for a chart illustrating the details:

    Trailing 6-day Avg BTMX Holdings

    Criterion

    Trailing 28-day Trade Volume (USDT)

    Max Bid Items

    ≥ 10,000

    OR

    ≥ 30,000

    1

    ≥ 20,000

    OR

    ≥ 60,000

    2

    ≥ 30,000

    OR

    ≥ 90,000

    3

    ≥ 40,000

    OR

    ≥ 120,000

    4

    ≥ 50,000

    OR

    ≥ 150,000

    5

    ≥ 60,000

    OR

    ≥ 180,000

    6

    Notes:

    • User’s trailing 6-day average unlocked BTMX holdings in Cash Account (excluding BTMX holdings under Staking) will be calculated every day from April 21, 12:00 a.m. UTC, 2021 to April 27, 12:00 a.m. UTC, 2021 based on the user’s holding period.

    • User’s trailing 28-day trade volume (including cash trading, margin trading and futures trading) will be calculated in USDT from March 30, 12:00 a.m. UTC, 2021 to April 27, 12:00 a.m. UTC, 2021. 

    • User's bid quota will be calculated per 6-day average unlocked BTMX holdings or 28-day trade volume respectively. The system will pick the bigger quota for users by default. Each AscendEX user can place bids for up to 6 bid items in the Standard Auction.

  4. The BTMX / BTMXP bid component of the auction serves as a tiebreaker. For example, if there are less than 1,500 participants who bid at the bid cap, those that bid a greater amount of BTMX or BTMXP will win the auction, capped at 45 BTMX or 900 BTMXP. The conversion ratio between BTMX and BTMXP is 1 BTMX = 20 BTMXP.
  5. If there are >1,500 participants bidding at the bid cap (150 USDT + 45 BTMX or 900 BTMXP), a random draw will be conducted to determine the winners of the auction.
  6. Any BTMX collected from this auction will be converted into BTMXS being permanently locked up. Please note that BTMX consumption in the SHO Standard Auction will result in BTMX release from the private sale portion.

SHO Uncapped Auction Overview

Main features of the Uncapped Auction include price discovery with a minimum bid amount and no maximum and participation by bidding 150 USDT + as much BTMX / BTMXP as you’d like. The auction will close at your bid or better if you are amongst the top-500 best bids. So please bid aggressively to win.

Detailed Terms & Conditions:

  1. There are no BTMX holdings or trade volume requirements for users to participate in the Uncapped Auction. Uncapped Auction allows participants to bid for the chance to win a tranche of 2,000 SHO. 500 participants will win the uncapped auction with a total auction allocation of 1,000,000 SHO.
  2. The Starting Bid is 150 USDT, indicating a price of $0.075 per SHO. However, users may also bid as much BTMX or BTMXP as they’d like to increase their likelihood of winning the auction.
  3. Each AscendEX user can place multiple bids but can only win a single tranche of 2,000 SHO in the Uncapped Auction.
  4. Auction bid priority is (1) BTMX / BTMXP with the conversion ratio of 1 BTMX = 20 BTMXP;  (2) Bidding Time.
  5. Uncapped Auction will be closed at the USDT + BTMX or BTMXP price submitted by the 500th best bid.

    The BTMX / BTMXP bid component of the auction serves as a tiebreaker. For example, those that bid a greater amount of BTMX or BTMXP will win the auction.

    In the event that >500 of the most aggressive Uncapped Auction participants all bid 150 USDT + the same value worth of BTMX or BTMXP, the winners of the Uncapped Auction will be those that place their bids first. Bids submitted by participants 1 - 499 (i.e., participants willing to pay the greatest value of BTMX or BTMXP in addition to 150 USDT) may be partially refunded within 2 hours after the auction.

  6. Any BTMX collected from this auction will be converted into BTMXS being permanently locked up. Please note that BTMX consumption in the SHO Standard Auction will result in BTMX release from the private sale portion.

Notes:

  1. From 1:00 p.m. UTC to 2:00 p.m. UTC on April 27, users can place bids in both the Standard and Uncapped auctions. Only USDT, BTMX, and BTMXP in a user’s Cash Account can be used as payment in the auctions. Users can submit bids multiple times. Once a new bid is submitted successfully, the corresponding amount of additional BTMX or BTMXP will be deducted from the user’s Cash Account. The last bid outstanding will be deemed as the user’s final bid.
  2. To increase likelihood of winning in the Standard Auction, a user should monitor the 1,500th bid closely and submit bids that are greater than or equal to the 1,500th bid. If the Bid Cap is submitted by >1,500 participants, a user can still have their bid being included in a random draw by submitting the Bid Cap.
  3. To increase likelihood of winning in the Uncapped Auction, a user should monitor the 500th bid closely and submit bids that are greater than or equal to the 500th bid. 

    The Uncapped Auction will close at the USDT + BTMX or BTMXP price submitted by the 500th best bid. It means that a user can bid a BTMX (or BTMXP) quantity well above the 500th bid and potentially have their bid partially refunded.

    The logic of the Uncapped Auction is designed to achieve that all winners will pay the same price; Therefore, a user does not need to be concerned about paying a premium relative to other participants in the Uncapped Auction.

  4. For users who do not win the bid, their USDT and BTMX (or BTMXP) bids will be fully refunded within 2 hours after the auctions.

  5. At the end of auctions, winners need to submit the AscendEX account and auction confirmation code on Showcase's official website by April 28, 11:00 a.m. UTC. Failure to timely submit the required information will be deemed as the users’ voluntarily forfeiting their bid item(s). In the event of such forfeiture, the USDT and BTMX (or BTMXP) bids will be refunded by April 28, 4:00 p.m. UTC.

  6. Bid Item Distribution Window: April 28, 11:00 a.m. UTC - 1:00 p.m. UTC.

Eligibility Rules

  1. Users are required to complete KYC 2 verification in order to be eligible for participation.
  2. Users must agree to and sign the SHO Auction Agreement.
  3. Only users from the jurisdictions where local laws and regulations permit are eligible for participation.
  4. Eligibility requirements for Uncapped Auction: Meet the criteria of 1, 2, and 3;
  5. Eligibility requirements for Standard Auction: Meet the criteria 1, 2, 3  and trailing 6-day average BTMX holdings ≥ 10,000 BTMX or trailing 28-day trade volume ≥ 30,000 USDT.

Restricted Countries/Regions

Users from the following regions are NOT eligible for participation:

The 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, Malaysia, Ethiopia, Guinea, Guinea-Bissau, Lebanon, Sri Lanka, Libya, Serbia, Somalia, South Sudan, Thailand, Tunisia, Trinidad and Tobago, Ukraine, Uganda, Venezuela, and Yemen.

AscendEX reserves the final right to interpret and adjust these Terms and Conditions. For any abusive or suspicious activities, the users will be disqualified from the auction once identified.

We truly appreciate your continued support.

AscendEX Team

April 21, 2021

Website: https://ascendex.com/
Twitter: https://twitter.com/AscendEX_Global 
Telegram Group: https://t.me/AscendEXEnglish

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