Dear BitMart Users,
According to the "Pledgeable Income Swap Cooperation Agreement" achieved between BitMart and HBSworld on September 27th, 2019, BitMart and HBSworld have conducted the first Pledgeable Income Swap (Hereinafter referred to as "PIS") on October 12th, 2019. According to the agreement, HBSworld will need to transfer the amount of HBS equivalent to the USD currency value equal to the value of the total repurchased amount of BMX in September to BitMart.
According to the 15th BMX Monthly Burn, a total of 1,841,643.18121963 BMX (approx. 60,406 USD) was repurchased and burned in the period of August 20th, 2019 to September 19th, 2019. You can also check the burn records via the blockchain browser: https://etherscan.io/tx/0x60680d2fd6414cfcccfd6f0eea00b4d12f0d5576de3c2296c1e9a6db9341f09a.
Since the burning period is from August 20th, 2019 to September 19th, 2019, BitMart and HBSworld have achieved an agreement that the PIS amount in September is 60,406 USD * 50% = 30,203 USD.
Therefore, BitMart's PIS amount in September is 30,203 USD, which is equal to 30,203/0.209 = 144,511.96 HBS (the price of HBS is selected from the PoR valuation model). The HBS tokens issued from PIS will be divided equally into 25 phases of linear release and one phase will be unlocked per month with a ratio of 4%.
Thank you for supporting BitMart!
October 16, 2019