The well-known digital asset exchange Bibox has embarked on a mission to expand the blockchain ecosystem. As a part of its initiative, the Estonia based company has announced the launch of Bibox Orbit, set to go live on April 22, 10:00 (GMT +8). Bibox Orbit is a token launch platform that is designed to enable the community to get involved in high quality decentralized projects, encouraging their development and deployment.
The Bibox Orbit program has already short-listed 4 projects which exhibit a huge potential. The projects, handpicked from hundreds of applications received for the program includes: The Force Protocol, Ludos, STAKING and the X-Block. These projects make up for the first phase of implementation and in the near future, the platform will continue listing new DLT projects capable of meeting various real-world requirements of multiple industry segments.
Explaining about the selection process, the co-founder of Bibox, Aries said, “We’ve received plenty of applications from premium projects, and we’ve spent quite a lot of time communicating deeply with these projects. Based on their application information, we’ve also made an evaluation from multiple dimensions, such as the team members, projects application scenarios, community engagement, white paper, project investors, etc., to have a comprehensive understanding of the project.” Further adding, “In terms of projects selection, we are inclined to those with an understandable token economy, innovative technology, rich application scenarios, and easy to be applied in real life. Investors background is also one of the key factors we take into account.”
Once the Bibox Orbit program is launched, users on the platform can start purchasing tokens for the 4 listed projects. In order to participate users will have to ensure that they have BIX tokens on the Bibox platforms, as it is the only accepted payment method during this first phase. The BIX token holders should also complete their KYC before participating in the Bibox Orbit program.
The pre-purchase starts at 10:00 (GMT +8) on April 22 and go on till 17:00 (GMT +8) of the same day. The drawing time is set for 20:00 (GMT +8) on April 22, 2019.
Overview of the Projects
Here is a brief overview of the 4 projects chosen to be part of the inaugural Bibox Orbit program.
The Force Protocol: A Singapore-based open source blockchain platform, the Force Protocol offers cryptofinance solutions for the benefit of global asset lending market. Developers using the Force Protocol can implement smart contracts, shared trading book, automatic brokers among others to solve the real-world problems revolving around the traditional lending market.
Ludos is a Singapore-based gaming public chain platform with multi-sidechain and cross-chain technology that allows gamers to manage and trade their gaming assets. Ludos helps developers and game studios to crowdfund development, allowing them to issue game assets and benefit from the operation toolbox offered by the platform.
STAKING: The third shortlisted platform for Bibox Orbit, STAKING is a decentralized asset management platform with a sophisticated system infrastructure that allows investors to stake their assets without worrying about any security concerns. The platform ecosystem is comprised of PoS mining pool and infrastructure for Decentralized Finance (DeFi) market, that aims to reform the finance industry by combining Edge Computing, Trusted Computing and Blockchain technology. STAKING is known to offer annual yields ranging from 5% to 155% to its investors.
X-Block, the global decentralized fog supercomputing network based on blockchain 4.0 addresses the increasing need for processing power. Unlike conventional cloud computing solutions, X-Block fog computing enables access enterprises to access more service resources at a fraction of cost. The platform’s IX tokens use win-win cooperation between the computing resource receiver and resource provider to finally achieve a virtuous cycle of the whole blockchain ecology.
Participating in the Purchase Process
The participation process on the Bibox Orbit is simplified to a great extent and those BIX token holders who plan to participate in the process will have to just follow a handful of instructions to buy into any or all the four listed projects. While there is no minimum barrier of entry, the platform has set a total maximum participation cap of $5000 across all projects.
Once the Bibox Orbit goes live at 10:00 AM (GMT +8) on April 22, participants meeting the eligibility criteria should transfer BIX to the event page according to the pre-purchase amount and personal pre-purchase limits.
Participants can independently allocate the maximum individual purchase amount among the four projects, such that the total allocation doesn’t exceed the maximum of $5000.
At the drawing time – 20:00 (GMT +8), each project will be drawn according to the total amount of the user’s application and the actual amount of the project. The highest actual amount an individual can get is $800.
The tokens pre-purchased by the users will be released to the user accounts before the launch of the projects on Bibox. Any BIX corresponding to unsuccessful purchase will be refunded to the users’ accounts within one business day.
Possibility of Draw Winning
The winning rate between different projects may vary due to the difference between actual sales volumes and user applications. In a same project, higher the amount pre-purchased, higher will be the probability of the winning draw.
More information about Bibox Orbit is available at – https://www.bibox.com/orbitIndex