Dear BW users,
In order to promote the circulation of high-quality digital assets and enrich the investment options of users, BW.com is now grand presenting IOU mortgage lending mode. For the first season, BW has reached strategic cooperation with institutional investors of fanbi.com. BW obtains the 10 million ownership of the platform token FBT in the form of agreement, and the FBT will be first launched in the world on October 16, 2019 at 22:00 (UTC+8). BW will launch a new IOU trading mode, with details as follows:
【IOU lending rules】
1. Lending is suitable for experienced users. In addition to buying FBT in the market, users can also obtain FBT for short selling through lending.
2. Users can short selling FBT by borrowing FBT from BW mortgage QC.
3. The loan mortgage is based on a fixed amount. For every 1 FBT borrowed, 10 QC needs to be mortgaged (10 QC is the over mortgage, and the actual market price is far lower than 600qc). The borrowing limit is 1000 FBT, and the minimum is 1 FBT. (1 QC=1 CNY)
4. Users can redeem at any time during the redemption opening period. Redemption will return the mortgaged QC.
5. The opening time of mortgage loan: 22:00 (UTC+8) on Oct 16, 2019
The opening time of Redemption: 22:00 (UTC+8) on Oct 16, 2019
6. If the FBT market price is close to or even exceeds 10 QC (loan mortgage ratio), that is, close to the loan closing line, BW will take the opportunity to forcibly recover the user's mortgage leased FBT and return the mortgaged QC.
1. BW opens FBT/QC trading pair, and users can use QC to buy FBT/QC tranding pair to obtain FBT.
2. Each FBT will be opened at the initial price of 0.1 QC.
3. After open deposit and withdrawal, BW will convert all FBT rights and interests in the users' accounts into FBT objects. Please pay attention to the follow-up announcement for the specific open deposit and open withdrawal time.
4. Users can choose to buy after FBT goes online. For customers who need short tools due to large quantity demand, they can also borrow FBT from BW through mortgage QC.
5. BW has the right of final interpretation of the activity.
Fanbi.com is the world's leading digital asset node financial management platform, which integrates transaction, financial management, wallet and other functions. From birth to maturity, the project relies on excellent market ability to expand the participation group, reduce the circulation ratio, and enable users to enjoy the high interest deposit financial income of high-quality projects.
Official website: https://www.fanbi.com
Download BW APP: https://www.bw.io/appDownload
BW, Bit World, Better World
BW.com Global Operations Team
October 16, 2019