Dear Respected Hotbit Users,
After several rounds of our stringent selection process, we are excited to announce the second project of Hotbit Polaris,Flychain (ESC).
Known as the platform that provides both services and contents for comprehensive eSports events and activities based on blockchain, the technical team members of Flychain (ESC) are originally from Fun.tv, Meituan.com and Ganji.com; the product team members of Flychain (ESC) are originally from Alibaba, Baidu, Tencent and Zuche.com; the operation team members are originally from Kunlun, Playcrab and Iqiyi. Flychain (ESC) is currently conducting an economic reform towards the direction of tokenization in its ecosystem, which aims at modifying its gaming structures through the adoption of blockchain technology and establishing a new connection among developers, service providers and players.
The ecosystem of Flychain (ESC) establishes an eSports competition system of smart games, which is used for managing and tracking all combat activities in various eSports games. Flychain (ESC)’s goal is to become the peg token in the world of eSports platforms, which thus enables our users to use our tokens to tip the host in the live stream events and participate in event quizzes, and finally enables our tokens to become the commonly accepted tokens among all platforms and to be stored as the reserve fund for the event quizzes. By the time the game is over and the winners of the quizzes are announced, the organizer of the game will report the ID, wallet addresses and the volume of rewards of all winners of the quizzes to smart contract by the use of API, and the rewards will then be distributed directly to all winners.
So far, the APP of Flychain (ESC) has been downloaded more than 2,000,000 times, and Flychain (ESC) has accumulated more than 300,000 registered users. What’s more, Flychain (ESC) has also established excellent partnership relationships with various top eSports clubs, such as the world champion of Arena of Valors, the QG Club, and has received RMB12,000,000 from C-Hongkey as angel investment.
Detailed Rules and Regulations of the Purchase Application
1. The purchase application of ESC has been divided into two sessions, which are ESC/HTB and ESC/USDT sessions. The duration for the purchase application of both sessions is scheduled during 0:00:00(UTC+8), April 20th, 2019 – 23:59:59 (UTC+8),April 22nd, 2019. The purchase application period for both sessions last for 3 days.
2. The total volume of ESC tokens available for purchase during the two sessions will be 150,000,000 ESC in total. The total value of ESC tokens available for purchase during both sessions will be 525,000 USDT worth of ESC tokens. The total volume of tokens available for purchase during ESC / USDT session will be 120,000,000 ESC tokens, with the price being 0.0035 USDT; the total volume of tokens available for purchase during ESC / HTB session will be 30,000,000 ESC tokens, with the price being 0.0035 / the average price of HTB / USDT during April 19th, 2019 * 90%.
3. Both purchase sessions last for 3 days in total. The extra bonus available for each purchaser during each day of purchase varies. During the 1st, 2nd and 3rd day of both purchase sessions, we will provide 20%， 10% and 0% of extra bonus for all purchasers based on the actual volume of ESC tokens that each user receives respectively.
For example: During April 20th, 2019, if any user successfully purchases 1,000 ESC, the user will also receive 200 ESC as bonus. Hence, by participating in each session during 0:00:00(UTC+8)~23:59:59(UTC+8), April 20th, 2019, the top 100 users who are allocated will receive an extra 20% of bonus based on the volume of tokens he/she successfully purchases; by participating in each session during 0:00:00(UTC+8)~23:59:59(UTC+8), April 21st, 2019, the top 100 users who are allocated will receive an extra 10% of bonus based on the volume of tokens he/she successfully purchases; by participating in each session during 0:00:00(UTC+8)~23:59:59(UTC+8), April 22nd, 2019, each user will receive 0% of bonus (no bonus) based on the volume of tokens he/she successfully purchases.
4. After finishing all purchase sessions, our system will calculate all valid purchase application records and allocate all relevant tokens to be distributed to each user based on the proportion of the volume of each user’s contribution compared with the volume of total contributions from all users. Our platform will finish the distribution of all allocated tokens to all users’ accounts before 16:00(UTC+8), April 23rd, 2019 and will return all unallocated assets to all relevant users’ accounts. By 16:00(UTC+8), May 7th, 2019, our platform will distribute all extra bonuses to all relevant users’ accounts.
ESC will be officially listed on our platform and available for trading at 15:00(UTC+8), April 24th, 2019.
The trading pair to be opened for ESC will be ESC/USDT.
5. There will be no limitation on all users regarding their frequency of purchase, volume and value of total contribution during the purchase application session.
Relevant formula:
The volume of each user’s total contribution = the volume of user’s contribution within the first day of purchase sessions + the volume of the user’s contribution within the second day of purchase sessions + the volume of the user’s contribution within the third day of purchase sessions.
If the volume of total contribution that we receive from all users is greater than the product of the total volume of tokens to be released and the token price, then the allocation ratio for each user = the total volume of tokens to be released * token price / the total volume of contributions from all users
If the volume of total contribution that we receive from all users equals to or is less than the total volume of tokens to be released * token price, then the allocation ratio for all users will be 100%.
The allocated value of tokens for each user = the allocation ratio of each user * each user’s volume of contributions.
The volume of tokens allocated for each user = the allocated value of tokens for each user / token price
The value of unallocated tokens for each user = the total value of each user’s contribution – the value of tokens allocated for each user
After finishing all purchase sessions, all ESC tokens left unsold will be destroyed.
For example: The price of ESC token is set to be USD$ 0.0035, and the total volume of ESC tokens available for purchase during the session is 120,000,000 ESC. If Peter applies to purchase 30,000 USDT worth of ESC during the first day of purchase session, then applies to purchase another 10,000 USDT worth of ESC tokens during the second day of purchase session, and finally applies to purchase 10,000 USDT worth of ESC tokens during the third day of purchase session. Suppose the volume of total contribution from all users during three days’ purchase sessions is 525,000 USDT, and that Peter’s volume of total contribution is 30,000 USDT + 10,000 USDT + 10,000 USDT = 50,000 USDT, then the allocation ratio for all users will be 120,000,000 * 0.0035/525,000 = 80%; Peter’s value of allocated tokens will be 50,000 USDT * 80% = 40,000 USDT; Peter’s allocated volume of tokens will be 40,000 USDT / 0.0035 = 11,428,571.4 ESC. The volume of Peter’s unallocated value of tokens = 50,000 USDT – 40,000 USDT – 10,000 USDT. The extra bonus that Peter will receive from the first day of purchase session = 30,000 USDT * 80% / 0.0035 * 20% = 1,371,428.57 ESC; the extra bonus that Peter will receive from the second day of purchase session = 10,000 USDT * 80% / 0.0035 * 10% = 228,571.429 ESC; the extra bonus that Peter will receive from the third day of purchase session will be 0 ESC.
Please refer to the following website for further information of Flychain (ESC):
Official Website: www.Lflyes.com
White Paper: https://sy-files.oss-ap-southeast-1.aliyuncs.com/ESC_whitepaper.pdf
Hotbit team
2019.4.12
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