BitWell launches the Dawn Era’s Round & Hero Era’s Round of ‘Free WELL with limited Privilege Card Subscription’

(To take part in the activity, please visit our website: https://www.bitwellex.com/cardsales )

Dear User,

Since the start of ‘Free WELL with limited Privilege Card Subscription’ program, it has received strong support from regular users in the community. At present, the subscription session for regular users has been successfully completed, and users have subscribed a total of 6.72 million USDT and received 42 million WELLs.

In order to meet the subscription needs of more institutions and common users, we have decided to launch the Dawn round & Hero round of ‘Free WELL with limited Privilege Card Subscription’. The details are as follows:

RoundTime(UTC)Giveaway QuantityQuotaLocked Mode
Dawn Round4415942,000,000300,000-500,000USDTUnlocked in proportion from the third month after entering the chain, for a total of 16 months
Hero Round25 Nov-28 Nov84,000,0001-1,000USDTUnlocked on the day of entering the chain, linearly unlocked for 3 days

A.Dawn Era’s Round

Subscription Period:

2020/11/24 06:00 AM(UTC) – 2020/11/24 10:00 PM(UTC)

Subscription Rules:

By subscribing to the Down Round’s privilege card subscription, we’ll be releasing a total of 42million WELLs. Details are as follows:

  • Users are required to use USDT to fund the subscription privilege card, please ensure that you have a sufficient balance of USDT in your spot account before subscribing;
  • Dawn round subscriptions are limited to 300,000-500,000 USDT per account, and users can get free WELL by subscribing the privilege card. The number of WELLs = the subscription amount / average auction price of the WELL (the number is rounded down, subject to the average price of the latest auction);
  • Down Round’s WELL giveaway will be distributed to the spot account directly, but will not be circulated until they are unlocked.

The unlocked schedule is as follows:

Time Unlocked ProportionTime Unlocked Proportion
1st Month09th Month 7%
2nd Month010th Month8%
3rd Month 1%11th Month 9%
4th Month2%12th Month 10%
5th Month 3%13th Month 11%
6th Month 4%14th Month 12%
7th Month 5%15th Month 13%
8th Month 6%16th Month 9%

Dawn Round’s card benefits

Participate in the Dawn Round NFT Privilege Card Subscription and receive a limited number of Dawn NFT card

1.Users can obtain the basic benefits after obtaining the privilege card:

  • Get free WELL
  • 80% off on trading fees of existing products (spot + Main options + DeFi options + Innovative options)
  • Get the medal of Dawn Era and a limited NFT privilege card with unique certification number.

2.Premium benefits unlocked upon subscription of 500,000 USDT:

  • 90% off on trading fees of existing products (spot + Main options + DeFi options + Innovative options)
  • Community founding partners’ priority
  • Limited NFT card withdrawal benefits
  1. Successful subscribers will be connected to a personal customer service and will enjoy the privilege of VIP level +1 (for a period of 1 year from the start of the VIP function online, please wait for subsequent official announcements).

B.Hero Era’s Round

Subscription Period:

06:00 AM-16:00 PM, 2020/11/25-2020/11/28 (UTC Time)

Subscription Rules:

By subscribing to the Hero Round’s privilege card subscription, we’ll be releasing a total of 84million WELLs. Details are as follows:

  • Users are required to use USDT to fund the subscription privilege card, please ensure that you have a sufficient balance of USDT in your spot account before subscribing;
  • A maximum subscription of 1000 USDT per account, and users can get free WELL by subscribing the privilege card. The number of WELLs = the subscription amount / average auction price of the WELL (the number is rounded down, subject to the average price of the latest auction);
  • Down Round’s WELL giveaway will be distributed to the spot account directly. Unlocked on the day of entering the chain, daily at 06:00 AM(UTC), linearly unlocked for 3 days.
  • There is a daily limit on the number of WELLs giveaway in the Hero Round, and it will end when the subscription is over-subscribed on that day. Users need to wait until 06:00 AM(UTC) the next day when the subscription opens. The quota allocation is as follows:
TimeGiveaway Quantity
25-Nov30,000,000
26-Nov24,000,000
27-Nov18,000,000
28-Nov12,000,000

Hero Round’s card benefits

Participate in the Hero Round NFT Privilege Card Subscription and receive a limited number of Hero NFT card

1.Users can obtain the basic benefits after obtaining the privilege card:

  • Get free WELL
  • 30% off on trading fees of existing products (spot + Main options + DeFi options + Innovative options)
  • Get the medal of Hero Era and a limited NFT privilege card with unique certification number.

2.Premium benefits unlocked upon subscription of 1,000 USDT:

  • 50% off on trading fees of existing products (spot + Main options + DeFi options + Innovative options)
  • Community founding partners’ priority
  • Limited NFT card withdrawal benefits

Attention:

1.Old users can still participate in Dawn Era’s Round and Hero Era’s Round and get new cards;

2.The withdrawal function of limited NFT privilege card will be supported later. Please pay attention to the official announcement for details.

3.Please enable the privilege manually in “User Center – My Card” within 30 natural days after obtaining the privilege card. The valid time is 60 natural days after opening. If the card is not enabled for more than 30 natural days, the card will be automatically invalid.

The following countries or regions are not supported:

Afghanistan, Albania, Belarus, Bosnia and Herzegovina, Burundi, Myanmar, Canada, Mainland China, Democratic Republic of the Congo, Cuba, Ethiopia, Guinea-Bissau, Guinea, Iran, Iraq, Japan, North Korea, Liberia, Lebanon, Libya, Macedonia, Malaysia, New Zealand, Serbia, Sri Lanka, Sudan, Somalia, Syria, Thailand, Trinidad and Tobago, Tunisia, Uganda, Ukraine, United States of America, Venezuela, Yemen, Zimbabwe.

Users from other countries are requested to participate in accordance with the laws of their country.

BitWell reserves the right of final interpretation of the campaign and may adjust the parameters and schedule of the campaign at any time based on market conditions.

Risk Warning:

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 Team
2020/11/21


About the BitWell Platform Token WELL

What is the WELL?

WELL is BitWell’s platform token and is based on Ethereum’s decentralized crypto ERC20 Token. It provides drivers for the entire platform ecosystem and serves as a measurement standard for the participants and contributions of all parties in the ecosystem. Token holders (and their representatives) can discuss, propose and vote on any future changes to the composite protocol.

WELL issuance and price

WELL was formally launched on 3 September 2020 Singapore time, but has not yet entered into on-chain circulation.

The initial price of WELL was 0.01 USDT and as of 20 November 2020, the price of WELL has risen to 0.16 USDT after several rounds of auctions. the price of WELL will fluctuate in line with market demand and market price fluctuations.

Uses and benefits of WELL

WELL is the representative of BitWell community rights, including:

  • Platform trading fee discounts
  • Offsetting options fees
  • Right of first refusal for products
  • Additional rebates
  • Community voting rights
  • Community governance rights
  • Voting rights for major platform decisions
  • Right to be selected as a Community Founding Partner
  • Customize Well-Man peripherals
  • BitWell Private Meeting (exclusive to old users of Genesis Era)
  • Exclusive content cooperation (exclusive to old users of Genesis Era)
  • BitWell Executive Dialogue (exclusive to old users of Genesis Era)
  • Dedicated customer service, VIP level +1 privilege (exclusive to Dawn Era users)

As such, BitWell will do its utmost to ensure that the price of the WELL is reasonable and stable, to continually increase its intrinsic value, to maintain the health of the BitWell ecosystem, to extend its reach and to provide additional points of connection to value for all participants.

How to obtain WELL

WELL was launched at the same time that BitWell platform yield farming started on September 3, 2020 Singapore time. Users can obtain WELL by participating in yield farming. As of the end of yield farming on November 5, users have mined a total of 6.3 million WELLs.

In addition, users can receive WELL by participating in the BitWell platform ‘Free WELL with limited Privilege Card Subscription’ program.

After WELL officially enters circulation on the blockchain, it will be directly available for purchase on the BitWell platform.

The WELL subscription rule

Genesis Era Round:

  1. Only for existing users who have participated in yield farming.

2.In the first round, the maximum subscription amount for regular users is the yield farming rewards amount; in the second round, the maximum amount for a single account is 2000 USDT and the minimum subscription amount is 1 USDT.

Dawn Era Round:

  1. Accessible to all users.
  2. The maximum amount for a single account is 500,000 USDT and the minimum subscription amount is 300,000 USDT.

Hero Era Round:

  1. Accessible to all users.
  2. Maximum 1,000 USDT for single account and minimum 1 USDT for subscription.

Allocation and locking of positions

The maximum notional supply of WELL is 2.1 billion, distributed as follows.

Among them:

Seed round 4%, gradually unlocked after WELL enters the blockchain for 6 months, and will be unlocked linearly in 18 months;

Angel round 4%, gradually unlocked after WELL enters the chain for 6 months, and will be unlocked linearly within 18 months;

16% of the founding team will not be unlocked within 2 years, and then will be unlocked in no less than 2 years by linking to platform operating profits.

For 16% of the yield farming plan, users have mined 6.3 million(0.30% of the total), and the remaining 329.7 million(15.7%) have been completely burned; 8% of the plan part has been given away, and users can obtain by purchasing an NFT privilege card.

In the 8% giveaway plan, the Dawn Era’s Round gifted WELLs are in locked status for the first two months after entering circulation on the chain. Thus, in the first two months, 6.3 million WELLs (0.30%) from the Yield Farming and 42 million WELLs (2%) from the Genesis Era’s Round and 84 million WELLs (4%) from the Hero Era’s Round will be the first to enter circulation, for a total of 132.3 million WELLs (6.3%). After that, when the Dawn Era’s Round is gradually unlocked, the number of WELLs entering circulation on the chain will be 174.3 million, which is 8.3% of the total.

The remaining 76% of WELL is locked, as shown in the figure below:

For users who participate in the program of ‘Free WELL with limited Privilege Card Subscription’, please see the following table for the lock-up and unlock requirements of WELL:

RoundPriceProportion of Gift PlanNumber of GiftsUnlocking Time
Genesis Round0.16 USDT2%42 millionNo lockup
Dawn Round0.17 USDT2%42 millionIt will be unlocked proportionally from the 3rd month after entering the blockchain circulation, and the unlocking will be completed in 16 months
Hero Round0.17 USDT4%82 millionIt will be unlocked on the day it enters the circulation on the blockchain, and will be unlocked linearly within 3 days

Users who participated in yield farming have mined 6.3 million WELL without lock-up period.

WELL’s extreme deflationary economic model

The total number of WELL designs is 2.1 billion, with an economic model of extreme deflation, multi-threaded accelerated destruction, and never additional issues.

  • In yield mining, a blasting destruction mechanism is designed in which users mine more WELL daily, and burn faster. As of the end of yield mining, 329.7 million of WELL have been permanently burned, accounting for 15.7% of the total;
  • After WELL enters the blockchain to circulate, every Monday, BitWell will use 50% of the platform’s profit last week (much higher than the industry average) to repurchase WELL in the secondary market for burning;
  • If the platform has no profit last week, the team punishment plan will be implemented and the team’s share will be burned; if there is a profit but the standard is not met, the community users will vote through the community user’s vote, and the team will be punished;
  • After the implementation of community autonomy, it will be burned according to the community governance behavior.

The ultimate goal of WELL is to burn to 21 million (1% of the total).


BitWell is committed to building a fair and transparent global digital asset trading platform, providing investors with secure, convenient and intelligent blockchain derivatives trading services.

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