-- (Standard: -- | Uncapped: --)
-- (Standard: -- | Uncapped: --)
Random Draw & Auction Code Submission
Auction Period: 1:00 a.m. - 2:00 a.m. UTC, Mar 23, 2022.
-- + -- ASD / -- ASDP
-- + Uncapped ASD / Uncapped ASDP
Two separate auctions (Standard & Uncapped) will be held simultaneously. Each user account can bid in both auctions.
MIT Standard Auction
The Standard Auction has a price discovery with a minimum and maximum bid amount.
AscendEX users can bid USDT with up to ASD or ASDP to get a bid item for participation. The number of bid items users can earn will be calculated based on their trailing 14-day average ASD holdings or trailing 30-day trade volume. Each user is allowed to bid for 6 bid items at most. If more than -- bid items with USDT + ASD / ASDP, a random draw will be conducted to select winners. Bid the cap for your eligibility to win. Learn More >
MIT Uncapped Auction
The Uncapped Auction has a price discovery with a minimum bid amount and no maximum.
Users can bid USDT + as much ASD / ASDP as they'd like to participate. The auction will close at your bid or better if you are amongst the top--- best bids. Bid aggressively to win. Learn More >
1. From 1:00 a.m. UTC to 2:00 a.m. UTC on March 23, users can place bids in both the Standard and Uncapped auctions. Only USDT, ASD, and ASDP 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 or ASDP 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 --th bid closely and submit bids that are greater than or equal to the --th bid. If the Bid Cap is submitted by >-- 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 --th bid closely and submit bids that are greater than or equal to the --th bid. The Uncapped Auction will close at the USDT + ASD or ASDP price submitted by the --th best bid. It means that a user can bid a ASD (or ASDP) quantity well above the --th bid and have the excess of their bids refunded within two hours. 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 (or ASDP) 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 Galaxy Blitz's official website by March 23, 4:00 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 (or ASDP) bids will be refunded by March 23, 4:00 p.m. UTC.
6. Bid Item Distribution Window: March 23, 4:00 a.m. UTC - 5:00 a.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.