Dear Respected Hotbit Users,
After several rounds of our stringent selection process, we are excited to announce the third project of Hotbit Polaris, HashNet Biteco（HNB）.
HNB’s overall objective is to create a decentralized blockchain network tied in with an economic ecosystem. By utilizing a dual coin structure (‘HNB’ Asset coin and ‘HGS’ stable coin), users are able to both earn profits by trading the asset coin on the market whilst using the internally regulating stable coin to purchase goods and services on the HNB ecosystem.
Up to now, HNB has launched a blockchain based e-mall, with 200K registers and 5500SKU. HNB has built its global community, with offices in China, Canada, Australia and Singapore. We expect that by the end of 2019, HNB Mall's ecological daily trading orders will reach 1 million, the daily expenditure will be tens of millions of yuan, and the mall's ecological users will reach 10 million.
HNB team is based in Singapore, with international teams in Shanghai and Canada. HNB international team members are from United States, Australia, Canada, China, Italy, and Ecuador. HNB Team came from remarkable Universities like York University in Canada, Tsinghua University, Fudan University, University of Maryland, Tongji University and Xiamen University. HNB team is made up of many field experts in IT, block-chain specialists, finance and economics researchers, e-commerce entrepreneurs and advisors.
HNB was invested by many well-known institute investors, such as: BN Capital、TimeLine Capital、MyTech Fund、Probing VC、Atlas Capital、E-Fund、Creative Manger Ventures, etc. They share with their resources and experience.
Detailed Rules and Regulations of the Purchase Application
1. The purchase application of HNB has been divided into two sessions, which are HNB/HTB and HNB/USDT sessions. The duration for the purchase application of both sessions is scheduled during 0:00:00(UTC+8), April 25th, 2019 – 23:59:59 (UTC+8), April 26th, 2019. The purchase application period for both sessions last for 2 days.
2. The total volume of HNB tokens available for purchase during the two sessions will be 1800,000 HNB in total. The total value of HNB tokens available for purchase during both sessions will be 500580 USDT worth of HNB tokens. The total volume of tokens available for purchase during HNB / USDT session will be 1450000 HNB tokens, with the price being 0.2781 USDT; the total volume of tokens available for purchase during HNB / HTB session will be 350000 HNB tokens, with the price being 0.2781 / the average price of HTB / USDT during April 24th, 2019 * 90%.
3. Both purchase sessions last for 2 days in total. The extra bonus available for each purchaser during each day of purchase varies. During the 1st and 2nd day of both purchase sessions, we will provide 20% and 0% of extra bonus for all purchasers based on the actual volume of HNB tokens that each user receives respectively. 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 27th, 2019 and will return all unallocated assets to all relevant users’ accounts. By May 14th, 2019, our platform will distribute all extra bonuses to all relevant users’ accounts.
HNB will be officially listed on our platform and available for trading at 15:00(UTC+8), April 29th, 2019.
The trading pair to be opened for HNB will be HNB/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.
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 HNB tokens left unsold will be destroyed.
Please refer to the following website for further information of HashNet Biteco（HNB）:
Official Website: https://hnb.eco/cn.html
White Paper: http://c.hnb.wiki/technologywhitepaper_cn.pdf
Contract address: https://cn.etherscan.com/address/0x9c197c4b58527faaab67cb35e3145166b23d242e
Hotbit team
2019.4.23
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