Two Prime Blog

FF1 Trading Competition on Bithumb Global — What You Need to Know

T-minus 5 days until trading of the FF1 goes live on Bithumb Global! To celebrate the FF1 going live on Bithumb Global, traders of FF1 token on the exchange will be eligible for prizes in 3 trading competitions. Live trading begins at 5pm SGT (GMT+8) on Tuesday, 10 March, 2020, so be sure to set up an account on Bithumb Global ahead of time!

1. Prizes

Prizes will be divided across the top 3 traders the same.
a. First place will receive 60% of the total prize.
b. Second place will receive 30% of the total prize.
c. Third place will receive 10% of the total prize.
d. Prizes to be paid in quantities stated if token price of FF1 is greater than or equal to $3.00 per token at end time of competition.
e. If token price is less than $3.00 per FF1 token at end of competition, the reward will be calculated using formula (Stated Reward Size in USD$/$3.00) = Total Prize), in FF1 tokens regardless of price
f. For example, if token price is less than $3.00 per FF1 token for the Week 1 Competition, the prize would be calculated as $10,000 USD/$3.00 USD = 3,333.33 FF1 tokens.

2. Duration

All 3 trading competitions commence at the time live trading begins at 5pm Singapore Time (GMT+8) on Tuesday, March 10th, 2020.
a. The 1 week trading competition ends at 8:59.59pm Singapore Time (GMT+8) on Tuesday, March 17th, 2020.
b. The 1 month trading competition ends at 8:59.59pm Singapore Time (GMT+8) on Friday, April 10th, 2020.
c. The 6 months trading competition ends at 8:59.59pm Singapore Time (GMT+8) on Thursday, September 10th, 2020.

3. Minimum End Balance

All 3 trading competitions require that participants hold a minimum balance at the time trading ends to be eligible for prizes.
a. The minimum ending balance for all three competitions is 10% of the total prize.

4. Trading Volume Calculation

All 3 trading competitions will award prizes to the top volume traders using the same formula.
a. Volume is calculated using the formula of (Buys in $USD x 6) + (Sells in $USD x 4) = Total Points.
b.For example, a trader who bought $50,000 USD of FF1 and sold $25,000 USD of FF1 would be ($50,000 USD * 6) + ($25,000 USD * 4) = 400,000 Points

5. Reporting

Regular reporting on trading competition leaders and volumes will be provided publicly.
a. For the 1 week competition, a daily report will be delivered every day at 6pm Singapore Time (GMT+8), starting on March 11th and ending on March 17th.
b. For the 1 month competition, a weekly report will be delivered every week at 6pm Singapore Time (GMT+8), on March 13th, March 20th, March 27th, April 3rd, and April 10th.
c. For the 6 month competition, a biweekly report will be delivered every two weeks at 6pm Singapore Time (GMT+8), on March 20th, April 3rd, April 17th, May 1st, May 15th, May 29th, June 12th, June 26th, July 10th, July 24th, August 7th, August 21st, September 4th, and September 10th.

6. Inappropriate Tactics

Anyone found engaging in wash trading or other inappropriate or fraudulent market tactics will be removed from the competition at the sole discretion of Two Prime Limited.
7. Winner Verification: All token prize reward winners must undergo AML/KYC approval and direct verification from Two Prime Limited.
8. Prize Release Schedule: Token prize winners will be subject to controls on the release of their prizes.
a. After verification approval, token prize winners will be eligible to receive their reward between 1 and 2 weeks after competition end time.
b. Up to 5% of the total circulating supply of the token at the time of competition end.
c. Total circulating supply is calculated as tokens not in the Two Prime treasury, not held by Two Prime or its affiliates, and not part of the prize pool.
d. For example, if total circulating supply at competition end was 1,000,0000 total tokens, no more than 50,000 tokens would be released to the prize winner.
e. Updates to releases will be done on a weekly basis starting 1 week after the first release.

Disclaimer

Readers are hereby warned that:

1) there is no guarantee or representation of value or liquidity for the FF Macro Tokens, and the purchase of the FF Macro Tokens is of speculative nature and none of Two Prime or its affiliates shall be responsible for or liable for the value of the FF Macro Tokens, the transferability and/or liquidity of the FF Macro Tokens and/or the availability of any market for the FF Macro Tokens through third parties or otherwise;

2) Two Prime intends the value of the FF Macro Tokens be maintained but the FF Macro Tokens may still be subject to fluctuation;

3) under no circumstances would a holder of the FF Macro Tokens be entitled to or receive (i) any form of interests whatsoever in whole or in part (including but not limited to equity interest, proprietary interest and ownership interest) or share in or claim against Two Prime and/or any fund managed by the group, (ii) any voting rights at the board meetings or shareholders meetings of Two Prime, (iii) any management rights of Two Prime and/or the FF Macro Tokens, (iv) any economic right (including any kind of right to payment, distribution, income, dividend, profit, or other return, or any sums to be paid, or likely to be paid, out of such return or profit) of or generated from the keeping of the treasury (except those directly between participants of the ecosystem), by Two Prime and/or from the project financing conducted by the group; (v) any interest payments from Two Prime and/or any funds managed by the group; and (vi) any claim against any funds managed by the group and request any value to be returned to you;

4) the FF Macro Token is not a debenture issued by Two Prime and all purchase of FF Macro Tokens are final upon you receiving the FF Macro Tokens from Two Prime. You will not have any right to subsequently request redemption or return of the purchase funds you paid to Two Prime for the purchase of the FF Macro Tokens which Two Prime has the sole and absolute discretion to decide on how to use the purchase funds; and

5) Two Prime does not give any undertaking that, if the FF Macro Tokens are used as a means of making payment for goods or services from Two Prime or from a recipient, Two Prime will, or will procure the recipient of the FF Macro Tokens to, accept the payment up to the amount of the value in any funds managed by the group or to redeem the FF Macro Tokens.
Two Prime does not guarantee, and accept no legal liability whatsoever arising from or connected to, the accuracy, reliability, or completeness of any materials contained in this material. You should seek appropriate independent professional advice prior to relying on or entering into any commitment or transaction based on the materials published here, which is solely published for publicity purposes. Nothing contained in this material is or may be relied upon as a promise, representation or undertaking as to our future performances or policies. Further, we disclaim any responsibility to update any forward-looking statements or publicly announce any revisions to those forward-looking statements to reflect future developments, events or circumstances. No information in this material should be considered to be investment, legal, business, financial, accounting or taxation advice whatsoever regarding us, the FF Macro Tokens, or the token sale conducted by Two Prime and you should consult your own independent professional advisors separately prior to participating in purchasing any Two Prime.

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