-- (Standard: -- | Uncapped: --)
-- (Standard: -- | Uncapped: --)
Random Draw & Auction Code Submission
Auction Period: 1:00 p.m. UTC - 2:00 p.m. UTC, May 26, 2021.
-- + -- ASD / -- ASDP
-- + Uncapped ASD(BTMX) / Uncapped ASDP(BTMXP)
Two separate auctions (Standard & Uncapped) will be held simultaneously. Each user account can bid in both auctions.
FREL Standard Auction
Price discovery with a minimum and maximum bid amount.
Participate by bidding 100 USDT + up to 45 ASD(BTMX) or 1125 ASDP(BTMXP). AscendEX users can earn the eligibility to bid for additional FREL based on their trailing 6-day average ASD(BTMX) holdings or trailing 29-day trade volume. If more than 750 bid items with 150 USDT + 45 ASD(BTMX) / 1125 ASDP(BTMXP), a random draw will be conducted to select winners. Bid the cap for your eligibility to win. Learn More >
FREL Uncapped Auction
Price Discovery with a minimum bid amount and no maximum.
Participate by bidding 100 USDT + as much ASD(BTMX) / ASDP(BTMXP) as you’d like. The auction will close at your bid or better if you are amongst the top-250 best bids. Bid aggressively to win. Learn More >
1. From 1:00 p.m. UTC to 2:00 p.m. UTC on May 26, users can place bids in both the Standard and Uncapped auctions. Only USDT, ASD(BTMX), and ASDP(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 ASD(BTMX) or ASDP(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 750th bid closely and submit bids that are greater than or equal to the 750th bid. If the Bid Cap is submitted by >750 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 250th bid closely and submit bids that are greater than or equal to the 250th bid. The Uncapped Auction will close at the USDT + ASD(BTMX) or ASDP(BTMXP) price submitted by the 250th best bid. It means that a user can bid a ASD(BTMX) (or ASDP(BTMXP)) quantity well above the 250th 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 ASD(BTMX) (or ASDP(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 Freela's official website by May 27, 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 ASD(BTMX) (or ASDP(BTMXP)) bids will be refunded by May 27, 4:00 p.m. UTC.
6. Bid Item Distribution Window: May 27, 11:00 a.m. UTC - 2:00 p.m. UTC.
7. 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.