Terms & Conditions
1.Bid Item: 1,000 STAKE; Total Bids: 400; Starting Bid Price: 400 USDT; Bid Price Cap: 550 USDT.
2.The starting bid price and incremented bid price must be integral multiples of 1 USDT, and cannot be lower than the 400th bid price. Only USDT in the Cash Account is eligible to be used as payment in the auction. Once the bid is submitted, the corresponding number of incremented USDT will be deducted from the Cash Account.
3.Users can place a higher bid at incremental amount to the earlier bid. The last one will be deemed as the final bid.
4.Each user account is limited to one bid item.
5.Upon the conclusion of the event, the top 400 users ranked by bidding price will win the bid item. For multiple bids at the same price, the bid that is placed first or earlier will prevail.
6.For those 400 winners, they will only pay the auction price as the 400th bid and the excess amount over that will be refunded to their own user accounts
7.The winning user needs to submit the BitMax.io account and auction confirmation code on xDai Chain official website by 7:00 a.m. EDT, April 29th. Failure to timely submit the information will be deemed as the user voluntarily giving up the bid. So, the initial payment of USDT will be refunded.
8.The refund for a) the excess USDT payments of those 400 winners, b) the USDT payments from users who lose the bid and c) users who fail to timely submit auction confirmation code on xDai Chain official website, will be distributed to their own user accounts between April 29th, 8:00 a.m. EDT to April 29th, 10:00 a.m. EDT.
9.Bid Item Distribution: to be fully distributed between April 29th, 8:00 a.m. EDT to April 29th, 10:00 a.m. EDT.
10.BitMax.io reserves the final right on the interpretation and adjustment of these Terms and Conditions. For any abusive or suspicious activities, the users will be disqualified from the auction once identified.