The cryptocurrency ecosystem is exceptionally volatile and the market is highly speculative with regards to price hikes and predictions. The winter of 2018 witnessed a period of extreme bearish outbreak when the total market capitalization of the global virtual currencies fell to $112.1 billion. In comparison, the market was worth $760 billion in early 2018.
Considering this, the importance of cryptocurrency exchanges has been widely recognized and is one of the fundamental aspects of the global assets industry.
Bibox, a crypto-exchange registered in Estonia is one of the largest crypto-exchanges in the world. Bibox exchange is well-known for its user-friendly interface and stands out amongst its competition for its extreme reliability and efficient functionality.
The exchange recently made a major announcement and stated that the crypto-platform would be launching its Initial Exchange Offering [IEO] platform, known as “Bibox Orbit” at 10 am on April 22nd,2019 [GMT+8]. According to the official statement, the key objective of the exchange is to promote and launch the development of high-quality decentralized projects on its platform.
Bibox Orbit is basically a token launch platform which was created with the sole intention of developing quality decentralized projects. As a leading global assets trading platform, Bibox Orbit will be completely focused on boosting premium decentralized projects so that they are able to raise capital and remain sustainable for long-term development.
Introducing the First Phase of Bibox Orbit and 4-Quality Projects:
Bibox announced that the first phase of Bibox Orbit would be officially launched on 22nd April 2019 [GMT+8] and they also mentioned the inclusion of four quality projects for the users to purchase into development after its launch.
The projects are mentioned below:
The Force Protocol [FOR]
The Force Protocol is an open-source blockchain platform that provides crypto-financial solutions to developers with an aim to improve the virtual assets market. It is based on the mainstream public chain system and the under-layer standard data network of protocols. The project would offer solutions for financial needs such as cross-platform assets transactions, shared trading volumes, cross-chain communications, multiple blockchain crypto-assets collaterals backed stable coin issuing, token bonds issuing, on-chain payment, settlement, and clearing of transactions, among others.
Ludos, a Singapore-based distributed gaming ecosystem solution, aims to turn blockchain games into reality and release a decentralized gaming sphere and incentivize the platform. Gamers would be able to manage and trade their gaming assets on one hand, while on the other hand, they would also be able to manage game crowdfunding. The core team members of the project are from Columbia University, Carnegie Mellon University, Peking University and other institutions of higher learning.
Staking is a decentralized asset management entity which aims to create a transparent decentralized management platform that is efficient, secure and allows investors to safely stake their capital. The platform provides an ecosystem of a Proof-of-Stake [PoS] mining pool and a detailed infrastructure for the Decentralized Finance [DeFi] market.
Additionally, the platform owns one of the most secure databases in the world as system infrastructure. The core team is composed of experts from Tsinghua University, Columbia University, University of Toronto, and other world-renowned universities.
X-Block, a computing framework is the world’s first blockchain based entity for fog computing. In comparison to other traditional cloud computing platforms, users would be able to access more services at a minimal cost with the X-Block Fog computing services.
The members of X-Block cover digital asset investment, network security operation and maintenance, distributed computing, financial consulting, fund management and many other fields. X-block was promoted by DFG, a well-known Silicon Valley investment institution, and had received a strategic investment from Kosmos Capital, a top Australian investor institution.
Why is Bibox Orbit Launching Four Projects together?
Aries Wang, the Co-Founder of Bibox Exchange, explained the motivation behind launching four projects at the same time. According to Aries:
“People are curious why we have chosen to launch four projects simultaneously. Firstly, It’s not a simple decision, these four projects were picked out from hundreds of applicants. They are diversified but outstanding. Apart from their understandable token economy and innovation in blockchain technology, our listing team is also impressed by their professional experience in varied industries and their backed capitals.”
He also mentioned that the launch of four qualified projects together would increase the user’s opportunity to win the lottery, also it would give investors multiple alternatives to choose their preferred area. The launch of multiple projects on Bibox Orbit proves the exchange’s mission “Quality & Diversity”.
How to Participate?
After a collective consensus between all the parties involved, it was decided that the first phase of Bibox Orbit would determine the personal pre-purchase amount of BIX holders via a random draw. This implied that participants involved would experience maximum fairness and equity and it would allow more users to participate in the projects they like.
- Pre-Purchase Start Time
The first phase of Bibox orbit is going to have four projects available for the participants to purchase at the same time.
The timing of the purchases are:
- Pre-Purchase Start Time：April 22 10:00 GMT+8
- Pre-Purchase Stop Time：April22 17:00 GMT+8
- Drawing Time：April 22 20:00 GMT+8
- How to purchase?
On the Bibox exchange, BIX in the only token validated to be used for pre-purchase investment and payment in the projects. There is no minimum limit for the BIX holding amount, but the maximum amount that can be stored should not cross the threshold of the BIX equivalent of $5,000.
- The participants of Bibox Orbit must complete KYC real-name authentication first.
Sub-accounts are not allowed for Bibox Orbit.
3. Users in areas prohibited by law are not allowed to participate in the event.
4. During the pre-purchase period, Bibox shall have the right to disqualify the applicant if it finds any cheating behavior such as false authentication information or repeated KYC.
5. Bibox has the right of the final interpretation of the rules.