Lition trading starts on Bibox and IDEX — with 1 Million LIT giveaway

LIT token starts trading on Wednesday, 17.4.2019 on our preferred exchanges

Starting Wednesday 10am CEST (Germany)/ 4pm GMT+8 (Singapore) Lition tokens (LIT) will start to trade on two exchanges of our choice: Bibox (www.bibox.com) for BTC and ETH pairing as well as IDEX (https://idex.market/eth/lit) for ETH. We are glad to announce these two officially selected exchanges. The token unlocks about one hour before. Please see also the announcements of Bibox (link) and Idex (link).

We also have been listed on 5 other exchanges unofficially, which are MXC, Hotbit, Probit, Bilaxy and DCoin. While we in general recommend going with our official exchange listings, it ultimately is up to you as user to go with an exchange of your choice. After all, decentralization is at the core of our values in the blockchain world.

Along with our official exchanges, LITION can then be traded at 7 exchanges.

One Million Tokens giveaway on Bibox

To further celebrate this event, we are giving away One Million Lition tokens. That’s 1.000.000 LIT for community members active on Bibox. Read more about this in this announcement.

During the event, users can share 1,000,000 LIT airdrops by satisfying the following requirements:

  1. The personal net deposit volume≥3,000 LIT (Net deposit volume = deposit volume — sell out — withdrawal volume)
  2. The personal net purchase volume≥10,000 LIT (Net purchase volume = buy in — sell out — withdrawal volume)
  3. During 04/13–04/22/2019 (GMT+8), the average daily locked amount≥30,000 BIX.

The airdrops sharing rule: Users will be counted as 1 “LIT Achievement” for each requirement above they accomplish. Each user can gain 3 “LIT Achievement” at most. After the event concluded, the LIT airdrops a user can get = the number of “LIT Achievement” the user gain/ the number of total “LIT Achievements” gained by all users * 1,000,000 LIT

Reminder on the HODL Highway and Refund Parachute

While tokens are meant to be traded, we do would like to remind you that you loose eligibility for the HODL Highway or Refund Program once tokens have been transferred out of the initial wallet used during the ICO. So choose wisely!

For the people interested in statistics: Out of the ~550 people that contributed to our ICO, 5 people opted into the Buyback Parachute. All others stayed with the HODL Highway, favoring a higher bonus instead of the buyback option after 6 months.

What do I need to do to start trading?

Follow the following steps:

  1. Create an account of the exchange of your choice. For beginners, we recommend Bibox as it does not require the Metamask extension. The remaining steps assume Bibox as exchange.
  2. Wait until the deposit window starts, which is one hour before trading.
  3. While logged in to the Bibox exchange, click on “Funds” -> “Master Account” and select “LITION”. By pressing on “Deposit” you see your hot wallet address.
  4. Transfer your LIT tokens to that address. We recommend trying a small amount first to see if the tokens reach their destination. Please not that transfers are only possible about an hour before transfer, otherwise the transaction will fail.
  5. Click on “Exchange” and select the LIT pairing, either with BTC or ETH. You’re good to go!

How come some trades were carried out before official listing?

We only did the TGE for crowdsale tokens. For testing reasons and to allocate remaining tokens, we unlocked the smart contract for 40 minutes on Monday. Unfortunately, contributors found out quite quickly about it and we therefore decided to pause the token transfer function again. However, some contributors managed to transfer their tokens on Bilaxy (which listed us without our consent) where they are traded currently. In addition to this, 4 other exchanges have added a LIT trading pair today and are either faking trades or are having a small amount of the supply that has been transferred within this window.

Please be aware of the fact that the amount of tokens on the exchanges is currently at such a low level that extreme price volatility is given. We advise you therefore to wait for trading to start on the exchanges of our choice.