Introduce the pro rata ticket distribution model
Bitfinex Token Sales Inc. (BTS) offers plug and play technology solutions to streamline the ticket sales process. BTS is excited to introduce a new ticket distribution model that can help projects cater for the high demand for tickets offered during sales and achieve wider distribution.
In the past, ticket sales conducted using BTS technology used the first-come-first-served ticket distribution model, and were completed within seconds of launch due to high demand. As a result, thousands of authenticated users were not able to purchase tickets successfully. Feedback from BTS users helped to shape the new pro rata model whereby all eligible consumers who pledge to participate in the ticket sale receive an allocation.
Pro rata distribution model
Projects that conduct ticket sales using BTS technology can now choose to distribute tickets using the new pro rata distribution model, where all eligible consumers can pledge to buy tickets during the sale and receive a proportionate allocation based on the user’s promise itself and the total of promises. by all consumers, if sales are too high.
Example of pro rata ticket distribution
Let us consider an example where an ABC project conducts a ticket sale using the pro rata distribution model and intends to sell 100,000 ABC tickets worth $ 100,000, where each ABC ticket costs $ 1. Ash participates in the sale and promises to buy 10,000 ABC tickets. The remaining eligible users promise to buy 190,000 ABC tickets. Then,
Tickets Available at the Token Auction = 100,000 ABC.
Total Promise = 200,000 ABC.
Tickets bought by Ash = 5,000 ABC.
Since the sale is 100% oversubscribed, each consumer will only be able to purchase 50% of their original promised amount. Therefore, Ash will receive 5,000 ABC tickets and $ 5,000 (the difference between the promised amount and the purchased amount) will be released to Ash.
Opening sale with pro rata distribution
We are delighted to announce that Elrond Ltd. will conduct the first Catalyst sale using the new pro rata distribution model. Elrond Ltd. aims is to bring accessibility to the digital economy by improving the key factors of the blockchain user experience including speed, scale and cost.
The Elrond Catalyst sale opens at 10:00 AM UTC on September 23, 2020. When the sale opens, a limited amount of eGold (ELGD) tickets will be sold for the price at the time, with successful contributors receiving an additional 25% EGLD bonus. The bonus tokens will be distributed in four equal shares on 28 September, 3 October, 8 October and 13 October 2020.
For step-by-step instructions on how to participate in the sale, visit https://tokensales.bitfinex.com/help/purchase
To learn more about Elrond Catalyst sales and to register to purchase EGLD tickets, visit https://bit.ly/ElrondCatalystSale.
This blog post is not an offer to sell or soliciting an offer to purchase any tickets. Any sales would be made only through definitive agreements and subject to Token Sales Terms of Service for Bitfinex Token Sales platform. In particular, this blog post is not an offer for sale or soliciting an offer to purchase any eGold tickets (EGLD). Any sales of EGLD tickets would only be sold through the “Elrond Catalyst Sales Ticket Buyer Agreement ” with Elrond Ltd. and subject to Token Sales Terms of Service for Bitfinex Token Sales platform.
Offers and sales of tickets through the Bitfinex Token Sales platform shall not be made in any jurisdiction where such offer, solicitation or sale would be unlawful prior to registration or application under the securities laws of any such jurisdiction or in any jurisdiction and would require a license. or another registration of the Bitfinex Token Sales platform. Furthermore, sales are not made to persons or entities of the British Virgin Islands, Canada, the United States, or Switzerland or in jurisdictions or to persons prohibited under the applicable law or sanctions regime.
Some statements in this blog post may be forward-looking in nature. The words “believe,” “expect,” “estimate,” “could,” “should,” “intend,” “may,” “plan,” “seek,” “anticipate,” “project” and similar expressions , among others, generally citing “forward-looking statements,” which speak only from the date the statements were made. The issues discussed in these forward-looking statements are subject to a number of risks, trends, and uncertainties that could result in actual results being materially relevant to those anticipated, anticipated or implied. the forward-looking statements. Neither Bitfinex Token Sales nor any other person is responsible for updating or revising any forward-looking statements, whether as a result of new information, future events or otherwise, except as is required by law.