Dear Users,

 

AscendEX will provide technology and execution support for 9th round auction of UAT Pending Release from presale portion (public sale and private sale) . Details are as follows:

 

Time

May 10, 3:00 AM UTC - May 17, 3:00 AM UTC

 

Click here to participate in UAT auction (PC Only)

 

Eligibility

UltraAlpha (UAT) private sale and public sale participants.

 

Auction Information

 

Project Name UltrAlpha
Bid Item UAT Pending Release from Private/Public Sale Portion
Total Quota 105,717.2 USDT
Description Winners of the bid will be eligible to sell UAT Pending Release from Private/Public Sale Portion at the final settlement price.
Auction Method Descending Auction
Initial Bid Price 1 USDT
Descending Amount Integral Multiples of 0.00001 USDT

 

Terms & Conditions

 

1. Total Quota: 105,717.2 USDT; Initial Bid Price: 1 USDT.

2. When a user places a bid for the first time, the user must enter a bid price, select asset type (private sale asset or public sale asset) and a bid quantity to participate in the auction. Successful bids will be displayed under Auction page - [My Bid].

3. One user account can participate in the auction with both public sale asset and private sale asset.

4. A user can submit the bid multiple times. The first bid price cannot be higher than the Initial Bid Price. When a user submits a new bid, the user can update the bid price or quantity via the Auction page - [My Bid]. The new bid price cannot be higher than the previous bid price, and the new bid quantity cannot be lower than the previous bid quantity. The price and quantity in the last bid will be considered as the user’s final bid.

5. Upon the conclusion of the event, users will be ranked by their final bid prices in ascending order (from the lowest bid price to the highest). For multiple bids at the same price, the bid that is placed first or earlier will prevail.

6. Upon the conclusion of the event, a final settlement price will be calculated per following section on methodology. Users with a final bid price higher than the final settlement price will be deemed to lose the bid; users with a final bid price equal to or lower than the final settlement price will be deemed to win the bid. Winning bids will be settled based on ranking [Final Settlement Price*Winner's Bid Quantity], until the Total Quota is fully distributed.

7.  Within 24 hours after the event, the final bid quantity (i.e. UAT quantity) of the winners will be deducted from their respective accounts; corresponding USDT amount will be distributed to these winner's accounts. Deducted UAT will all be burnt.

 

*Calculation of Final Settlement Price

 

The system will calculate the lowest possible bid price based on the bid price and quantity of the users’ final bids, in order to use up the total quota. The lowest possible bid price will be the final settlement price.

 

Example:

Assume Total Quota of the auction is 1,000 USDT. After the conclusion of the auction, users will be ranked based on their final bid price and bid time (as shown in the table below). The system will process the users’ final bid prices one by one to calculate a lowest possible bid price, so that the total quota of 1,000 USDT can be fully distributed.

In this case, the lowest possible bid price is 0.05 USDT based on calculation, and the price will be used as the final settlement price in this auction. As a result,

  • User B's bid items from Private Sale Asset can be fully sold;
  • User A's bid items from Public Sale Asset can also be fully sold;
  • User B's bid items from Public Sale Asset can be partially sold.
Rank User

Final Bid Time

(UTC)

Final Bid Price

(USDT)

User’s Bid Qty

(UAT)

Bid Quota

(USDT)

Type

Final Settlement Price

(USDT)

Qty Sold

(UAT)

Quota Distributed

(USDT)

1 B

May 11

01:30:10

0.02 6,000 120 Private Sale Asset 0.05 6,000 300
2 A

May 10

03:05:15

0.04 8,000 320 Public Sale Asset 0.05 8,000 400
3 B

May 10

11:50:10

0.05 10,000 500 Public Sale Asset 0.05 6,000 300
4 C

May 12

12:30:30

0.05 7,500 375 Private Sale Asset Failed
5 D

May 13

01:25:25

0.06 12,000 720 Private Sale Asset Failed

 

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

May 9, 2021

 

Website: https://ascendex.com/

Twitter: https://twitter.com/AscendEX_Global 

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