Announcement on Launch of “BIB Elite Trading Competition”

Dear valued users,

In response to the demand of majority users, BIB Exchange will  launch the “BIB Elite Trading Competition”. The competition consists of four rounds , with a total prize pool up to 10,000 USDT. Each round of the competition will reward top traders based on the rankings of tranding volume and profits. BIB proudly invites you to join us in this battle arena, showcase your trading talent and skills now!

Contest Schedule:

Round 1: 04/03/2023 00:00 - 10/3/2023 23:59 (UTC+8)

Round 2: 11/03/2023 00:00 - 17/3/2023  23:59 (UTC+8)

Round 3: 18/03/2023 00:00 - 24/3/2023 23:59 (UTC+8)

Round 4: 25/03/2023 00:00 - 31/3/2023 23:59 (UTC+8)

Eligibility: Users of the exchange.

Trading Pairs: IMX/USDT, MATIC/USDT, SAND/USDT, ENS/USDT, MKR/USDT，and all other pairs listed during the competition period.

Rules for ranking traders:

1) Spot trading volume: The amount in USDT involved in spot trading during the event period.

2) Rate of return: Calculated based on the rate of return for the participant's spot account, calculated in USDT, for the coin being traded during the round. The formula is as follows:

[(Ending snapshot - Beginning snapshot) - assets transferred in]/[Beginning snapshot + assets transferred in – assets transferred out]

Beginning snapshot: The total value of the participant's spot account in USDT, in the coin being traded, at the start of each round.

Ending snapshot: The total value of the participant's spot account in USDT, in the coin being traded, at the end of each round.

Assets transferred in and out: Assets transferred in and out of users’ spot accounts will be converted into USDT based on the latest price at the end of each competition round.

Prize Pool Allocation:

The total prize pool is dynamic and will be adjusted based on the number of participants and their trading volume. The actual prize pool amount will increase as the number of participants and their trading volume increase. The allocation rules for the prize pool are as follows: 80% of the prize pool will be allocated to traders based on their ranking on the trading volume leaderboard, while 20% of the prize pool will be allocated to traders based on their ranking on the rate of return leaderboard.

Prize Pool Distribution:

Reward Distribution:

Rewards will be distributed within 2 working days after the end of each competition round, and users will get informed through platform notification.

Additional Terms:

1. BIB reserves the right to disqualify users who engage in dishonest and abusive activities (such as wash trading, bulk registration, market manipulation, etc.) during the event period;
2. BIB reserves the right to disqualify all user accounts that are detected by the platform’s automated risk control system for engaging in matched trading activities;
3. BIB reserves the right to disqualify users who cancel more than 10 orders in a minute during the event period;
4. BIB reserves the final interpretation of this activity. If you have any questions, please reach out to the BIB customer support team.

Thank you for your consistent support and help to BIB Exchange!

BIB Operations Team

March 3, 2023

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