BSC Launch Event

What's the BSC Launch Event?

We are thrilled to announce that Wasabix is coming to BSC network and bringing the yield-backed synthetic asset to the next level. In order to compensate all the Wasabix Users, we are giving away 10,000 WASABI as the first launching event on BSC Network. Users who stake PLP(Pancakeswap Liquidity Pair) will be eligible to participate in the event.

The 10,000 WASABI reward is separated into two parts, Competition and Lottery. For competition, the 7,000 WASABI will be distributed according to the time-weighted staked in the event duration; for Lottery, we will randomly choose 7 winners to share the 3,000 WASABI reward.

How it works?

• Competition start date: May 11th, 2021 12:30(UTC+0)

• Competition duration: 21 Days

• Competition end date: May 31st, 2021 12:30(UTC+0)

• Total amount of reward: 10,000 WASABI

• Competition prize: 7,000 WASABI

• Competition Distribution method: Proportion to the time-weighted of your PLP token

• Lottery prize: 3,000 WASABI

• Lottery distribution method: Randomly choose 7 winners

• Lottery 1st winner: 1,000 WASABI

• Lottery 2nd~3rd winners: 500 WASABI each

• Lottery 4th~7th winners: 250 WASABI each

How to participate in Competition?

• Please provide liquidity(WASABI-BNB) on Pancakeswap. Once completed, you will receive PLP token(Pancake Liquidity Pair) from Pancakeswap.

• Please stake the PLP token into the Staking Pool. Once completed, Wasabix will automatically calculated the time-weighted point for you. The calculation will be executed by every block.

• Each block your time-weighted point will be calculated. At the end of the event, the reward will be distributed proportional to the accumulated point you get.

How to participate in the lottery event?

Everyone who contribute at least 1 PLP(Pancakeswap Liquidity Pair) is qualified to participate in the lottery event.

Let's say there are two users A and B: If UserA stake 2.68 PLP, UserA will get 2 tickets. If UserB stake 132.43 PLP, UserB will get 132 tickets. The number of the tickets you have are round down to integral numbers of the PLP token.

At the end of the event, Wasabix will take a snapshot and randomly choose 7 winners. Please note that the more tickets you have the better chance you will win the lottery.

How is the competition reward distribution look like and what is Time-Weighted calculation?

It is important to note that the WASABI reward will be distributed in proportion to the amount staked calculated by time-weighted calculation. Please allow us to make an example for you to see how it works.

Let's say there are UserA and UserB:

	Block1	Block2	Block3	Block4	Block5	Final
UserA staked PLP	+20	+0	-10	+20	+0
UserB staked PLP	+0	+30	+0	+0	+0
UserA time-weighted point per block		+1	+0.4	+0.25	+0.5
UserB time-weighted point per block		+0	+0.6	+0.75	+0.5
UserA's accumulated point						2.15
UserB's accumulated point						1.85
UserA will get % of reward						53.75%
UserB will get % of reward						46.25%