THE UPBOTS IEO AND UBXT ARE NOT BEING OFFERED IN THE UNITED STATES OR TO ANY U.S. PERSONS. IF YOU ARE LOCATED IN, INCORPORATED OR OTHERWISE ESTABLISHED IN, OR A RESIDENT OF THE UNITED STATES OF AMERICA, YOU ARE NOT PERMITTED TO PARTICIPATE IN THE UPBOTS IEO OR TO PURCHASE ANY UBXT TOKENS.
Prepare for the IEO
Take a moment to familiarize yourself with UpBots or Scroll to the bottom of this article.
Note: Any user whose 30d trading volumes do not exceed $50,000 by 9PM HKT, September 13th will NOT be allowed to participate in this IEO. Likewise, any user who has not been approved to KYC level 2 will NOT be allowed to participate in this IEO.
Details and guide: https://ftx.com/upbots-ieo
In order to bid during the IEO, make sure you read the rules below and do the following beforehand:
Register your FTX account and submit KYC level 2. Due to a large inflow of new sign ups, any account that signs up past 10th September 2020 will not be guaranteed entry into the IEO.
Set an alarm in advance: the IEO starts at 9PM HKT, September 14th
Prepare funds to bid: at least 100 USD(T), and at most 100 USD(T) and 8 FTT per ticket
- You will have one hour to bid between 9PM HKT, September 14th and 10PM HKT, September 14th
Trade and buy FTT to lock in your additional ticket allotment 24 hours before the IEO. This means before
9PM HKT, September 13th.
There are 2,000 accepted tickets (so 20,000,000 UBXT tokens total). At 10pm we’ll raffle off the allocations. The minimum bid is $50 ($0.005 per UBXT) and the maximum bid is $100 + 8 FTT ($0.01 per UBXT + 8 FTT). They will go to the highest bidders; in the event that there are over 2,000 tickets each bidding US$0.01 per UBXT + 8 FTT, we’ll allocate randomly between them.
Within a few hours of determining the allocations, the trades will print to the winning buyers’ subaccounts, and you will be able to transfer (non-UBXT) funds out of the UBXT-IEO subaccount.
If you do not win your funds will be returned
If you bid FTT but would have won the auction without it, the FTT will be returned
All FTT paid will be burned
Any UBXT purchased will be fully unlocked and transferable up to an hour after the IEO commenced.
Rules for Bidding
Each bid ticket, if filled, will result in a trade: you pay your bid price and receive 10,000 UBXT. You can enter the number of tickets you would like to submit. Each ticket is an additional entry for another 10,000 UBXT tokens; multiple could theoretically be filled.
- Any user who is qualified for the IEO (account is KYC2 and has done >$50,000 volume in the past 30d) will receive 1 ticket. You may be able to purchase additional tickets based on your trading volume over the past 30 days, and additional based on your average daily FTT holdings over the past 7 days.
Average FTT holdings for the 7d prior to September 13, 2020
- > 10: +1 ticket
- > 100: +2 tickets
- > 1000 or FTX VIP: +3 tickets
Trading volume over the 30d prior to September 13, 2020
- > US$100,000: +1 ticket
- > US$1,000,000: +2 tickets
- > US$10,000,000: +3 tickets
- Example: If you bid for 3 tickets at a price of US$0.01 plus 8 FTT, then you may end up buying up to 30,000 UBXT total; each filled ticket would grant you 10,000 UBXT and would cost US$0.01 per UBXT plus 0 to 8 FTT, for a total of US$300.00 and up to 24 FTT. You could be filled on anywhere between none and all of the tickets.
There are 2,000 winning buying tickets (so 20,000,000 UBXT tokens total). At 10pm we’ll raffle off the allocations. They will go to the highest bidders; in the event that there are over 2,000 tickets each bidding US$0.01 per UBXT + 8 FTT, we’ll allocate random between them.
Please take note of the following:
- The above 30d volume updates once per day: the official volume number used will be your 30d volume over the 30 days prior to September 13th 9PM HKT.
- The above average FTT holdings updates every few minutes: the official number used will be the average FTT holdings over snapshots taken at September 13th 9PM HKT and the 7 days prior (also at 9PM HKT), for a total of 7 snapshots. Projections made before 9pm HKT September 13th assume that you will maintain your current balance through 9pm HKT September 13th.
- Stats are summed across all your subaccounts.
- Your maximum number of tickets gets locked in based on data up until 24h before the IEO. We will indicate on this page what numbers are final a few hours after that.
- The UBXT token will initially seek to be listed on Serum and not FTX. After a period of being listed on Serum, it will be listed on FTX.
- Please carefully review our terms of service, especially as they pertain to trading activity and KYC submission
- All participants agree to abide by the FTX Terms of Service and the Token Terms.
- Any participants found violating the FTX Terms of Service or Token Terms will be disqualified.
- FTX reserves the right to amend the Terms and Conditions of this IEO without prior notice.
- Multiple entrants from a single trader is strictly prohibited and will result in disqualification.
- US residents or residents of any restricted jurisdiction are strictly prohibited.
- Reselling purchased UBXT to a resident of the US or any restricted jurisdiction is strictly prohibited.
THE UPBOTS IEO AND THE UBXT TOKENS ARE NOT AND WILL NOT BE OFFERED IN THE UNITED STATES OR TO ANY U.S. PERSONS (AS DEFINED IN REGULATION S PROMULGATED UNDER THE U.S. SECURITIES ACT OF 1993, AS AMENDED). PARTICIPATION IN THE UPBOTS IEO AND ALL TRANSACTIONS IN UBXT TOKENS ARE SUBJECT TO THE TOKEN TERMS.
WHAT IS UPBOTS?
UpBots is the first blockchain-based all-in-one trading interface designed to simplify digital asset management and empower anybody, regardless of skill or experience to trade crypto, DeFi, Forex and Commodities through their favorite centralised or decentralised exchanges.
The UBXT token is the native utility token for the UpBots platform and the UpBots token economy has been designed to be velocity controlled and highly connected to the business success.
UBXT can be used to pay for platform subscriptions, training courses, quality signals from quality assured signal providers, payment of performance fees for social copy trading and community bots, all of which are available in the UpBots marketplace.
Holding UBXT provides UpBots users with a multitude of benefits relative to the size of the holding. Benefits include discounted performance fees, platform subscription fee discounts, training course discounts and access to an AI bot.
There will be a maximum limit of tokens and an annual burning program to reduce supply. To lower the barrier to entry UpBots platform users who wish to pay for their subscriptions in FIAT will be able to do so and the platform will automatically lock an equivalent value of UBXT tokens for as long as their subscription is active.
UpBots users will easily be able to create automatic trading bots from a wide range of bots, ready to be deployed, or based on their own strategy, or the strategies of other community traders through automated social copy trading.
Project Name: UpBots
Total Supply: 500,000,000 UBXT
Circulating Supply at TGE: ~100.000.000 - 120,000,000 UBXT ($1,000,000 - $1,200,000 value at IEO price)
Protocol: ERC 20/SPL
Official Website: https://www.upbots.com
Telegram: https://t.me/Upbots (en)
Issued Date: 2020