BitMax.io Weekly Newsletter | 01/11/18 | Launch of The Transaction Mining Phase
The past week, presented great news for BitMax.io investors and fans around the worldwide, as the company announced the launch of their Transaction Mining First Phase of Public Test and Participation Reward Program, as well as a massive partnership with Lambda.
For all the patient BitMax.io enthusiasts out there, this week was one of the best for many a while. There was the launching of the transaction mining first phase, due to go live today. This was great news, as users and will be able to participate and personally experience the innovative solutions of the BitMax.io platform. Moreover, along with this news, was also the announcement of BitMax.io partnering with Lambda for a primary listing.
BitMax.io Launches Transaction Mining First Phase of Public Test and Participation Reward Program
BitMax.io will launch the public testnet of their Transaction Mining activities to all global users net via the testnet website today at 12:00 AM EST.
As stated via an official blog post:
“The following summary provides key information necessary in support of your testing process during the First Phase.
Registration Requirement
New registration on the test-net is required. Since this is a brand-new separate website, current BitMax.io account registration would not be applicable here.
Upon your successful completion of registration, the system would automatically deposit test tokens into your account for you to initiate the testing of Transaction Mining functionalities.
Limitation on Deposit and Withdrawal Functions
The test-net will not provide any deposit and withdrawal functions. All the test tokens will be cleared out after the conclusion of the public test period and the shutdown of test-net.
The Scope of Phase One Testing
In preparation for the upcoming official launch of Transaction Mining, users should focus on testing the following significant functions on the test-net during the First Phase:
Registration and log-in for both web and mobile H5.
The setup and selection of trading modes (Mining, Reverse-Mining, and Regular Trading) for Maker and Taker trade in the Account page; The purpose is to understand the impact from different setup combination on various trading modes.
Buy, sell and cancellation functions.
Asset position updates post-trade to assess if the asset position has been accurately updated.
Reliability, stability, and accuracy of API connection.”
Participation Reward Program
If any issues are identified during the testing process, testers can directly contact the BitMax.io team through a variety of channels listed on their official page.
“The Participation rewards are as stated below:
-Reward range of 5–50 USDT: Effective bug and the rule-based suggestion that is accepted by the platform.
-Reward range of 20–200 USDT for the following examples: Submission of the complete testing report (greater than 800 words) and sharing with 3rd party platform upon our approval; comparative analysis of our platform against other mining exchanges, etc.
For a similar suggestion, the reward will be issued based upon the first-come-first-serve basis.
-The total cap of reward is set at 10,000 USDT.
The reward will be calculated and notified to the user within five business days upon the conclusion of the program.
Only users who have a real account with BitMax.io (not Testnet) and passed KYC are eligible for rewards."
Please stay tuned for a further announcement on Distribution Rules of Platform Data Usage Fee, Platform Token Consumption Rules and Lock-up Rules in the coming days.
BitMax.io Transaction Mining Rules
BitMax.io is introducing the Transaction Mining model to encourage users to trade on the BitMax.io platform as part of overall liquidity strategy. There will be multiple trading modes available through Transaction Mining Model, including further incentives structure for market maker trades.
The limit of 10 billion BTMX utility tokens is strictly imposed without any further increase. 49% (4.9 billion) of total issuance has been pre-distributed, and 51% (5.1 billion) will be gradually released and distributed to incentivize users for daily participation in transaction mining.
For the complete list of rules and T&C’s, please follow this link.
BitMax.io Announces Partnership With Lambda
Lambda (LAMB), a blockchain infrastructure providing unlimited storage capabilities, partners with BitMax.io on their initial listing. Lambda, the fast, safe, and scalable blockchain infrastructure project, has formed a strategic partnership with BitMax.io, the innovative digital asset trading platform, and to allow for the development of positive growth between two projects with mutual interest.
Lambda is a provider of blockchain-based storage solutions in the era of the Internet of Things (IoT) and will make their world premiere and first launch on BitMax.io. Lambda has numerous top crypto funds invested in the project including Bitmain, FBG Capital, Zhen Fund, Metropolis VC, INBlockChain and BlockVC. It is a fast, safe, and scalable blockchain infrastructure project aimed at providing convenient storage capabilities.
The partnership arrives at a time when BitMax.io recently dropped their fees from 1% to 0.04% which makes it one of the lowest within the crypto space.
The team here at BitMax.io would like to say a huge thanks to everyone continuing to support the project and look forward to even better announcements next week!
#BitMax.io #Testnet #Mining #Lambda #Publictest
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