Buzzex has reserved 120 million coins to be sold during the pre-launch. We have decided to reduce this amount to just 5 million and use the additional 115 Million BZX to be used for 2 major contests to grow the Buzzex user-base before the platform launches in Q1 of 2019.
In this post, we’ll go into full detail as to how the 115 Million BZX will be divided for 2 contests with huge prizes for participants.
Contest 1: Coin Developers
Buzzex has a partner program and already reserved 100 million BZX to be divided amongst coin projects which join the program.
When BZX launches, verified partners will earn BZX based on trading volume of their coin on the Buzzex Exchange. These coins can then be used to further grow their project.
During the pre-launch we’ll add an additional incentive for coin developers to promote Buzzex to their followers by reserving another 100 million BZX for verified partners based on the amount of verified votes they get on the Buzzex voting page.
Every verified vote they receive will result in 1000 BZX being added to their account!
IMPORTANT: All current verified votes will count towards the total as well.
So to show current stats:
At the moment there are already a lot of coin projects that have received verified votes from Buzzex members. Every vote means 1000 BZX for the coin project if they verify their site on Buzzex.
So this means that:
- Litecoin will get 964,000 BZX
- Dash will get 362,000 BZX
- Ethereum Classic will get 121,000 BZX
- GameX will get 110,000 BZX
- And so on…
- In order to actually get the BZX, coin developers will have to verify the main site of their project.
- All coin developers will have a separate voting page where they can both verify their site and share with their supporters (or supporters can share it with them). This voting page will also show the number of votes they received so far and the total earnings they can claim by verifying their project.
- These rewards will end 24 hours before the Buzzex platform launches in Q1 of 2019 (estimate is 2-3 months from the moment of writing this post) or if a total of 100,000 verified votes is reached.
- A maximum of 1000 votes will receive a reward, meaning the maximum earnings for coin projects is 1 Million BZX ($130K value). 1000 verified votes mean the coin will automatically be listed on the Buzzex Exchange.
With this extra bonus offer on top of the original pool of 100 million BZX reserved for coin projects (which will be shared after the Buzzex Exchange launches), we are positive to get a lot of coin projects engaged with the Buzzex Exchange. This will result in more traders using the platform and higher overall liquidity.
Contest 2: Buzzex Members
The remaining 15 million BZX will be used for a second contest in which every Buzzex member can participate.
This is the amount of BZX winners will receive:
- 1. 1,000,000 BZX ($130,000)
- 2-10. 500,000 BZX ($65,000)
- 11-50. 100,000 BZX ($13,000)
- 51-100. 20,000 BZX (2,600)
- 101-500. 10,000 BZX ($1,300)
- 501-1000. 1,000 BZX ($130)
Yes, you read that right, the winner will get an amazing 1 million BZX (worth $130K) and the first 1000 winners will all receive BZX coins!
So how will the contest work?
Here is an overview:
- Every Buzzex Member will have a chance to answer the contest question once. The question is: What will the average daily trading volume on Buzzex be the first 7 days after the exchange launches (in Dollar value)?
- A new contest page will be added to the Buzzex pre-launch site where you can fill your answer. Everybody that joined Buzzex will have 1 answer field where they can enter the amount in Dollars.
- For everybody that you refer to Buzzex (KYC verified members), you’ll get an extra field to add an answer. So if you have 1 referral, you’ll be able to enter 2 answers. If you have 5 referrals you’ll be able to add 6 answers. If you have 100 referrals you’ll be able to add 101 answers and so on…
- Everybody can only win once! So if you refer 100 people you can’t win 101 times. Your closest guess will count as the only answer.
- To make it easy to attract more participants, you’ll be able to easily share the contest page using your Buzzex referral link.
- IMPORTANT: You’ll be able to update your guesses easily before the deadline which is 24 hours before the exchange actually launches.
We’ll be posting a lot of updates as we get closer to the launch of the Buzzex Exchange with a lot of info to make one or more informed guesses as to what the average daily trading volume on Buzzex will be the first 7 days we launched.
So make sure to stay tuned. 😊
Finally, because we have limited the BZX to be sold to just 5 million during pre-launch, the lifelong bonus coins you’ll receive if you buy coins during the pre-launch from company staking will remain high.
If you have any more questions, just leave a comment below.