Bitfex Crypto Derivatives Exchange to begin Token Distribution after successful BFX IEO
Bitfex, the complete crypto derivatives exchange powered by idap.io, is ready for its next phase of objectives after the successful IEO completion of its utility token. Rebranded from the token formerly known as IDAP, BFX is an ERC-20 token with a completely new smart contract that is available for viewing on Etherscan here. The listing of BFX on ProBit Exchange has been finalised for September 30, 2019, at 08:00 GMT.
BFX powers the crypto derivatives ecosystem of Bitfex, with its tokenomics designed to ensure the flow of value from the business to BFX holders. Conferring the benefits of discounted trading fees for payees and of zero-fee trading on holders with the minimum threshold of BFX, the demand for Bitfex’s native token is tied to the success of the exchange. Besides these factors, the dis-inflationary nature of BFX, wherein regular burning of BFX equivalent to 20% of the revenue will contribute to its demand, making it the preferred choice for those who understand the golden rule of crypto markets: “Sit back and HODL.”
BFX Distribution Details
Tokensale contributors, who have bought IDAP earlier, will receive an equal number of BFX in the distribution. Distribution will be done via tokensale dashboard, accessible by logging into the account created on the tokensale page. To receive BFX in their personal wallet, tokensale contributors will have to provide an ERC-20 compatible wallet address. Deadline to submit/modify your receiving address in your tokensale dashboard is 07:00 GMT on September 26, 2019. After this deadline, distribution will begin and you will not be able to change the submitted receiving address.
Important points to note before submitting your ERC-20 compatible wallet address:
- Please make sure that you ONLY provide an ERC-20 compatible wallet address as the receiving address and the private key of this address is in your control only.
- Please DO NOT provide any other exchange wallet address as the receiving address.
- If you opt for ZERO-FEE Trading Account, 20000/30000/40000 BFX tokens as per your profile will be kept with the Bitfex exchange and the remaining balance will be transferred to your given ERC-20 wallet address.
- DO NOT provide any receiving ERC-20 wallet address if you want to keep all your BFX on Bitfex exchange.
- Once BFX tokens are transferred to your given ERC-20 address, the Bitfex exchange will bear no responsibility for the tokens. If funds get lost due to incorrect receiving wallet address, the exchange will not be responsible.
Please feel free to drop us a mail at firstname.lastname@example.org or reach us out on Telegram in case you have any questions regarding the distribution process.
Distribution of BFX to participants of the Bounty Campaign as well as the various Airdrop campaigns will happen directly on the live Bitfex Exchange, straight into their exchange wallets. No additional registration is required of the Bounty/Airdrop participants; their exchange wallet will be created automatically using the email they supplied while first registering for their respective campaigns.
Bitfex (powered by idap.io) is the first complete crypto derivatives ecosystem, introducing users to low-risk trading instruments such as crypto spreads and butterflies, along with a highly advanced desktop trading platform which incorporates a revolutionary point-and-click ladder trading interface. Through its institutional-grade infrastructure, diverse product line and trader-friendly platform features, the Bitfex ecosystem will attract traders and investors of all kinds to its exchange.