At the request of most of the users, HBTC Exchange has updated the rules for the first phase of subscription activities announced in "HBTC List FileCoin3Month Futures with 50% OFF Subscription" as follows:
1. Change the payment method to HBC;
2. Cancel the original 10 HBC holding requirements, users are only required to complete KYC2 level certification to participate in.
Apologies for the inconvenience this update may bring. Users are advised to be prepared for the subscription.
Please see the updated rules as follows:
Event: 50% OFF FIL3 Token Subscription Event
1. Mode of Payment: HBC
2. Eligibility: KYC Level 2 Verified
3. Subscription rules:
a. Subscription Period: 20:00, July 22, 2020 - 21:00, July 22, 2020, Singapore Time (UTC+8)
b. Total quota for Phase 1: 30,000 FIL3
c. Limit of subscription per user: 1-10 FIL3 (First come, first served)
d. Subscription price: 1 FIL3 = HBC worth of 8 USDT (HBC prices shall refer to the closing price of the previous day.)
1. Mode of Payment: USDT
a. KYC Level 2 Verified
b. Qualified by holding at least 1000 HBC (subject to the HBC balance in user’s wallet, including the locked position from HBC Captains (assets under frozen category will be excluded).
3. Subscription rules:
a. Subscription Period: 12:00, 23 July 2020 - 12:00, 24 July 2020, Singapore Time (UTC+8)
b. Total quota for Phase 2: 70,000 FIL3
c. Limit of subscription per user: Quota will be assigned based on user’s USDT portion to total USDT used for subscription of all users (maximum subscription limit for each user is 6000 USDT)
d. Subscription price: 1 FIL3 = 8 USDT
HBTC reserves the right to final interpretation of this event.
Token Swap from FIL3 to FIL
FIL3 is a 3-month Futures of Filecoin. HBTC will conduct a token swap from FIL3 to FIL at a ratio of 1:1 three months after the launch of Filecoin Mainnet.
Filecoin is the incentive of IPFS which uses the token incentive model of the blockchain to build a decentralized storage network. The symbol of the Filecoin token is FIL. Filecoin aims to build a storage system and retrieval market by Filecoin incentive model. By providing storage and retrieval services, miners can obtain the FIL tokens paid by users.
What is IPFS
The Interplanetary File System (IPFS) is a protocol and peer-to-peer network for storing and sharing data in a distributed file system. IPFS uses content-addressing to uniquely identify each file in a global namespace connecting all computing devices. IPFS allows users to not only receive but host content, in a similar manner to BitTorrent. As opposed to a centrally located server, IPFS is built around a decentralized system of user-operators who hold a portion of the overall data, creating a resilient system of file storage and sharing.
Filecoin Website: https://Filecoin.io/
Digital assets are electronic investment products with high volatility. We encourage our users to make rational judgement on your investment and to invest carefully. Please seek advise from your professional investment advisor.
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19 July 2020