BtLux launches the Apollo Project Contract this week. Many users are very interested in it and have a lot of questions as soon as it was announced. So BtLux holds an AMA today and the CMO of BtLux will answer some of these questions.
Q1: The rules of the Apollo Project Contract have been released, but some users may not be clear about the rules. So, could you please explain its key points?
I will introduce three parts of the key rules: pre-subscription, mid-subscription and post-subscription.
Pre-subscription: You can subscribe for shares on both BtLux and SEA wallet. New users can also subscribe on BtLux, where the initial quota of 500 shares per person can be increased to 2000 shares through deposit and invitation. By contrast, the threshold of SEA wallet is higher since it focuses on rewarding the support of old users. Rewards will be maximized if you subscribe on both platforms.
Mid-Subscription: Once you get the quota, you are eligible to use your SEA to purchase on the subscription page.
Overall subscription period: July 17, 2020-September 1, 2020
BtLux subscription period: 10:00, July 20, 2020–18:00, August 20, 2020 (HKT)
SEA wallet ranking period: 12:00 on July 17, 2020–12:00 on August 17, 2020
SEA wallet subscription period: 15:00 on August 28, 2020–15:00 on September 1, 2020
Post-subscription: After getting the equity, you can check the subscription results on the asset page of the exchange to confirm your identity as the genesis partner of the exchange, and the development of the exchange is closely linked with your interests. We also hope to establish a deeper connection with everyone in this way, build our communities, and make the platform bigger together.
After BtLux gets listed, V Fund will provide exchange channels and assist users in the monetization of equity.
If Btlux is not listed as scheduled within 24 months, we have a risk-free repurchase plan. The repurchase price is 120% of the subscription price, and the maximum can reach 300%. Therefore, if you successfully complete the upgrade, such as net increase in SEA, inviting friends, etc., during the two-year period of holding the equity, there will be a great chance of getting the maximum repurchase price.
Subscription price calculation: The average market price of SEA on the BtLux exchange from July 17 to August 20. Whether the secondary market trading of equity contracts is available on the BtLux exchange will be announced with comprehensive consideration of the development plan and the market.
Details of the repurchase price calculation:
① First calculate the average price of SEA during the subscription period: the average market price of SEA on the BtLux exchange from July 17 to August 20
② Calculate the subscription price per share based on the subscription ratio 2 SEA=1 share
② The repurchase price is 120% of the subscription price
③ Example: Assuming that the average market price of SEA from July 17 to August 20 is 0.5 USDT and the subscription price is 1 share = 2 SEA = 1 USDT, then the repurchase price =1 USDT x 120% =1.2 USDT as the repurchase price is 120% of the subscription price.
In short, the higher the average SEA price is, the higher the repurchase price will be. Thus the price of the risk-free repurchase plan is actually determined by users and the market. During the subscription period, the higher the average SEA market price rises, the higher the repurchase price will be.
Q2: How to complete the two-year listing plan and whether the user’s equity can be sold and monetized on the NYSE as scheduled will be affected by the development plan of the platform in these two years. So what is the strategic plan of BtLux?
First of all, BtLux has both Chinese and English websites for the sake of global marketing from the very beginning. In the second half of this year, we will incubate at least five global digital economy innovative blockchain projects to be listed on Btlux, and simultaneously list 10 to 20 projects that have a community of more than 100,000 people. Our goal this year is to reach 200,000 users, becoming one of the top 50 international exchanges.
In 2021, we will simultaneously launch Korea Website, Australia Website, and Central and South America Website to expand globally. We expect that next year our user base will be at least one million, and the global ranking will among the top 20. At the end of 2021, we’ll start preparing for getting listed on the New York Stock Exchange.
In 2022, we will launch the European website, the Japanese website, the Middle East website, etc., and achieve the development goals of globalization. In this year, we intend to achieve a base of at least three million users, rank among the top five global exchanges, and successfully list on the NYSE. We will give the best results back to our loyal users who have always supported us.
Q3: Why do you think BtLux can get listed?
The original intention of BtLux founded by V Fund is to reform the market, so that users’confidence in digital asset trading market will be restored. Private domain users of substantial node enterprises/projects will gradually be brought to BtLux. We’ll evaluate project development through standardized services, and help users track the project status in real time. The advantage of BtLux is to let the real market determine the future of the project, linking the physical enterprises and the digital economy. The listing of BtLux would be a big step forward for the digital economy.
Q4: Is there any benefit from the equity before the listing of the exchange? Will there be any dividends?
Annual profit dividends will be distributed according to the New York Stock Exchange’s guidelines after BtLux gets listed. Before the listing, we offer an incentive system with a maximum repurchase reward of 300%
BtLux hopes to share the long-term profits with the supporters. There will be more events very soon. Follow us on Twitter and Telegram.