Dear Respected Users:
Hotbit will support the distribution of ONG. All Hotbit users who hold ONT in their Hotbit accounts will receive relevant amount of ONG generated from ONT. The detailed rules and regulations are listed below:
1.The amount of ONG that each ONT holders will receive will be reflected and calculated according to the snapshots we take every day.
We will take 1 snapshot regarding the amount of ONT that each user holds in their Hotbit accounts by 23:59:59 (UTC+8) every day.
The amount of ONG that each user will receive depends on the proportion of ONT that each Hotbit user holds in their Hotbit accounts by the end of each day compared with the amount of ONT held by all users on Hotbit by the end of every day.
The calculation formula is listed below:
The amount of ONG that each user will receive each day = The amount of ONG that Hotbit obtains everyday x The amount of ONT that the user holds in his/her Hotbit account each day
The amount of ONT held by all users in their Hotbit accounts each day
2.The amount of ONG that each user will receive will be distributed on a monthly basis
We will distribute the sum of all ONG received by each user within each month to each user’s Hotbit accounts on a monthly basis.
Detailed Rules and Regulations:
- Hotbit will open the deposit for new ONT tokens by 14:00 (UTC+8), Sep 21. Hence, the calculation of the amount of ONG that each user will receive will start by 14:00 (UTC+8), Sep 21.
- ONG deposits will be opened by 15:00 (UTC+8), Sep 21. ONG trading will be opened by 14:00 (UTC+8), Sep 21.
- The first distribution of ONG will be completed by Oct 22, 2018. The detailed amount of ONG to be distributed will be determined by the data provided by the snapshots taken between Sep 21th and Oct 21 (UTC+8).
Publish Date: September 25th, 2018
Hotbit official website:www.hotbit.io
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