Dear BitMax.io users,

 

From Jan 16, 9:00 p.m. EST, 2021, the following changes related to BTMX token will take effect immediately on the platform:

 

1) Regular Redemption period will be adjusted from 24 hours to 7 days. Upon successful submission of the request, the redeemed BTMX tokens will be credited to user’s balance after 7 days. 

2) The Instant Redemption commission fee will be reduced to 2.5% of total redemption amount. Upon successful submission of the request, the redeemed BTMX tokens will be credited to user’s balance instantly after fee deduction. 2.5% haircut will be applied to BTMX Investment quota in Margin Account when BTMX investment quota is used as collateral for margin trading. In addition, BTMX investment quota can be used for other consumption scenarios with 2.5% fee charged.

3) ‘Deposit’ refers to transferring 'BTMX private sale pending release' to 'BTMXP'. The service fee will be charged in BTMXP. 2.5% service fee will be charged per transaction.

4) ‘Withdraw’ refers to transferring 'BTMXP' back to 'BTMX private sale pending release'. The service fee will be reduced from 5% to 2.5%. 2.5% service fee will be charged per transaction.

5) Internal transfers of BTMX will be charged a withdrawal fee. Please check the Fee page for updated withdrawal fee. There's still no fee for internal transfers of other assets except for BTMX and BTMXP.

6) Internal transfers of BTMXP will be supported. Please check the Fee page for updated withdrawal fee. There's still no fee for internal transfers of other assets except for BTMX and BTMXP.

7) Any BTMX tokens collected from Instant Redemption and BTMX internal transfer will be subjection to consumption.

 

Thank you for the continued support.

 

BitMax.io Team

Jan 15, 2021