In order to better empower WELL, at the suggestion of the community users, the 17th period of WELL Vault will continue the rules of the 16th period, the initial prize pool of 100,000 WELL with no cap.
Vault Phase 16 Time
June 30, 2022 at 17:00 UTC to July 31, 2022 at 16:59:59 UTC.
- Pledges can be made at any time from the time the vault is opened, with a maximum of 100 WELL per pledge, and cannot be withdrawn before the end of the campaign.
- After the event, the system will automatically redeem 100% of the pledged WELL.
- Any pledges made within the last 24 hours of the event will not be counted for any rewards and cannot participate in the NFT draw.
- The initial number of WELL in the prize pool is 100,000 pieces.
- Once the number of WELL pledged in the vault reaches 10 million, the number of WELL in the prize pool begins to increase: for every 1 million pledged, the number of WELL in the prize pool increases by 5,000, with no cap.
|Number of WELL pledged||Number of WELL in the pool|
- A daily count of all users’ pledged WELL for the previous day at 16:00 UTC time.
- At the end of the current event, the system will automatically calculate the average daily pledge WELL of the user during the event period (sum of daily pledge WELL / total number of event days).
- The final reward received by the user = prize pool * average daily WELL pledged by the user / sum of the average daily WELL pledged across the platform.
Example: Suppose the vault is open for 30 days, and a user pledges 10,000 WELL on day 16 and no increase thereafter, the user’s 30-day average daily pledge WELL = 10,000*15/30 = 5,000; if the sum of all users’ 30-day daily pledge WELL is 100,000 and the prize pool is 50,000 WELL, the user will receive a reward of 50,000*5,000. If the total number of WELLs pledged by all users for 30 days is 100,000 and the prize pool is 50,000 WELLs, the user will receive a reward of 50,000 WELLs.
- The reward WELL will be released to your spot account within 7 days after the end of the event.
In addition to participating in the WELL Vault, users holding WELL can also enjoy the following benefits: WELL Pool, discounted trading fees, fee credits, additional rebates, priority purchase rights for products, community voting rights, community governance rights and more.
For more information on the benefits of WELL, please refer to ‘About the BitWell Platform Token WELL’.
Cryptocurrency investment is innovative blockchain products, and subject to price fluctuation. Please judge your risk-taking ability rationally and make your investments with caution.
BitWell is not responsible for any direct, indirect or consequential losses as a result of the cryptocurrency trading and holding.
BitWell is committed to building a fair and transparent global digital asset trading platform, providing investors with secure, convenient and intelligent blockchain trading services.
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