FTX's new issue of Internet Explorer 0 is just around the turn of the day, bringing you up to speed on Oxygen subscription details

On February 24, 2021, FTX, the crypto derivatives trading platform, announced that it would launch a new edition of IE0, which will be available for pre-sale on Oxygen (Oxy) on March 11 at 21:00 PM. A total of 2 million Oxy tokens will be allocated by lottery.

According to the FTX official announcement, the IE0 will also be used to subscribe coupons, while the intention to participate in the investors also have a certain threshold requirements. Sounds a little complicated, so how should the specific user operate or meet the conditions in order to participate in this round of investment?

Routine BlockBeats takes you through the Oxygen project and the detailed explanation of FTX's IE0 specifications and procedures.

About Oxygen

The Oxygen Protocol is understood to be a decentralized Prime Brokerage Protocol. In the past, prime brokerage business was a service for institutional investors in investment banks, aiming to improve the efficiency of users' use of funds. Through the Oxygen agreement, it is possible to decentralize such services and make them available to general investors.

Oxygen is a "capital pool" structure that allows users to trade, pledge assets, borrow, and create synthetic financial products on a decentralized platform with no licensing, fast transaction speeds, and low costs.

In February of this year, Oxygen closed its first round of $40 million funding, led by Alameda Research, one of the world's leading crypto market makers. Other investors included Multicoin Capital, Genesis Capital, CMS Holdings and other well-known Capital and holding companies.

According to the official website, Oxygen token OXY total 10 billion, divided into 6 parts according to the proportion, of which the community fund 4.5 billion, accounting for 45% of the total amount, product and technology growth of 2.5 billion, accounting for 25% of the total amount, 10% team stay, 10% private, partners accounted for 8%, IE0 2%.

Participate in IE0 requirements

According to the introduction on the official website of FTX, the pre-sale of OXY will be held at 21:00 on March 11th, Beijing time. Of course, if you want to participate in the pre-sale, the first thing you should do is to visit the websiteFTXRegister an account, this step is relatively simple, here will not be repeated, you open the official website click on the upper right corner, according to the prompts to register.

Assuming that you have completed the registration, you need to meet the following requirementsOne of the two requirements, you can participate in the OXY pre-sale.

1. Users who have passed KYC Level 2 certification and have accumulated $50,000 of transactions in the past 30 days (i.e., after 9pm on February 9th) before 9pm on March 10th, Beijing time;

2. Pledge over 500 FTC Level 2 KYC certified users on FTX

That is to say, meet one of the above 1,2 two conditions, you can get the qualification to participate in the presale. However, it is important to note that due to the time required for KYC authentication, and due to the recent high number of FTX platform authentication requests, the official notification is inOn March 9thParticipation in the pre-sale event is not guaranteed for users who submit their authentication application in the future.

Therefore, those who have not yet completed KYC Level 2 certification are advised to do so as soon as possible.

This OXY detailed presale information

According to the Oxy Pre-Sale page of FTX, 2 million Oxy tokens will be available for allocation in the lottery. A total of 1,000 pre-sale coupons will be available. Users must apply for the pre-purchase coupons before they can participate in the lottery.

The subscription coupons will be available to eligible accounts. The amount of subscription coupons available to each account will be adjusted according to the average FTT position held in the 7 days prior to March 10th or the trading volume in the past 30 days on FTX platform, as detailed below.

The minimum bid of eligible participants is $200, and the maximum bid is $250 +5 FTT (FTT is the additional subscription weight, the successful subscription will be unified destroyed by FTX, and the failure will be returned).

This round of pre-sale FTX will provide: 2 million pieces of OXY quota;

This pre-sale subscription coupon quantity: 1000 pieces.

Subscription Fund Requirements

Each subscription coupon corresponds to the chance to receive 2000 OXY. Because the way the higher bidder gets, the user can bid in a price range.

To participate in the pre-sale, users will need to deposit at least $200 into the "Oxy-IE0 Pre-sale Subaccount" (described below). A single coupon can buy up to 2000 Oxy; Similarly, if you hold more than one subscription coupon, you will need to increase the subscription capital in proportion.

For example, if you have 3 subscription vouchers, you will need to deposit $200*3= $600 into the "OXY-IE0 Pre-Sale Sub-account" if you subscribe at the lowest price.

The maximum bid is $250 +5 FTs, and the price of each OXY is $0.125 +5 FTs. Similarly, users need to deposit at least $250 and hold 5 FTs in the "OXY-IE0 Pre-Sale Sub-account" to participate in the pre-sale. A single coupon can also buy 2000 OXY. Similarly, if you hold more than one subscription note, you will need to increase the subscription funds and the number of FTT positions proportionately.

For example, if you have 3 subscription vouchers, you will need to deposit 250*3= $750 +5*3=15 FTs in the "OXY-IE0 Pre-Sale Sub-account" if you subscribe at the highest price.

Subscribe for securities

Opens to booking a subscription coupons to draw the allocation of the aircrafts to "price" rules, the foxy pre-sales have 1000 subscribe stamps, in other words: if more than 1000 people to participate in the subscription of the user, and the highest bid are adopted ($250 + 5 pieces of FTT) then subscribe vouchers will offer from these is extracted with the highest bid in the standard user.

Bidders can, however, earn more by holding the FTT or FTX volume: bidders who hold the FTT and have the higher volume will get more.   And in theory much piece subscribe voucher has the possibility that sign at the same time.

How do I get more coupons?

Average FTT holdings for the 7 days prior to March 10, 2021 Singapore time

More than 10 FTs: 1 subscription coupon can be obtained;

More than 100 FTs: 2 coupons can be purchased;

> 1000 FTT or FTX VIP: 3 coupons are available

Trading volume on FTX for the past 30 days as of March 10, 2021 Singapore time

> $100,000:1 subscription coupon available

More than $1,000,000:2 subscription coupons available

> $10,000,000:3 coupons available

For example, if you submit a total of 3 subscription tickets, your successful subscription interval for OXY is 0 to 3 tickets, each subscription ticket is subscribed for 2,000 OXY tickets, and if all 3 subscription tickets are successful, you can successfully subscribe for up to 6,000 OXY tickets.

OXY subscription start time

It will start at 21:00 PM on March 11th and last for one hour until 22:00 PM Beijing time.

Your FTT position will be counted at the end of 24 hours before the pre-sale starts, which is the snapshot of the position at 21:00 on March 10th in Beijing. FTT deposits deposited after 21 PM on March 10 will not be taken into account.

Steps for Subscription Participation

If you have confirmed that you are eligible to subscribe: have sufficient funds, hold FTT in advance, and have completed KYC Level 2 certification. Then you can scroll through the FTX official website banner to enter the subscription page.

Enter the subscription page and create "OXY-IE0 Pre-sale Sub-account".

After entering the page, first create an "OXY-IE0 pre-sale sub-account" according to the instructions, and then transfer the funds to participate in this IE0 pre-sale sub-account created. After success, we can click the second red box to check the balance of this sub-account and confirm that the fund is enough to participate in the subscription.

Confirm sufficient funds, waiting for subscription to open

As with the first step, the basic requirements have been met by confirming that KYC Level 2 has been completed and that $200 or $250 per subscription voucher has been deposited in the OXY-IE0 Pre-Sale sub-account, along with 5 FTs. What we need to do is wait.

Subscription time will be at 21:00 PM on March 11th, when we will open this page again, then scroll down the page to find "your bid" section, click "bid to subscribe".

At the time of subscription, you can enter the number of subscription coupons you wish to use (the maximum subscription coupon per user is subject to 30 day trading volume and 7 day FTT position).

Then, if you want to subscribe at the lowest price of $200, you can adjust the USD(T) price per OXY to 0.1USD and FTT to 0; If you want to participate in the subscription according to the highest bid of $250 +5FTT, the price of USD(T) per OXY is 0.125USD and FTT is 5.

Bid completed, await result

Following the confirmation of the offer, we are now awaiting the outcome of the subscription process, which will close at 22:00 PM on March 11.

At the end of the subscription, if the subscription is successful, the subscription fee will be deducted and each subscription coupon will receive 2,000 OXY. Within one hour of the completion of the draw, the successful subscribed users will receive their share in the OXY-IEO sub-account, and the successful subscribed users will be able to transfer (non-OXY) funds from the OXY-IEO sub-account.

All OXY purchased successfully will be fully unlocked and withdrawn upon launch.

Matters needing attention

1. Users participating in pre-sale are not guaranteed to win the contract or get the purchase quota;

2. If the FTT is used as an additional subscription weight but the FTT is not used in the subscription, your FTT will be returned;

3. If FTT is used as additional subscription weight, but FTT has been used in the subscription, your FTT will not be returned and FTX will destroy the FTT.

· Average FTT open positions will be updated every few minutes: The FTT open positions used by FTX will be the average FTT open positions of the snapshot from 21:00 PM on March 3rd to 21:00 PM on March 10th. FTX will take a total of 7 snapshots. Please ensure that you will maintain your FTT position in your account from 01pm on March 3rd to 01pm on March 10th.

·  FTX 将会统计的是，您钱包所有账户的 FTT 持仓量（包括主账户和所有子账户）。

·  您可获得的最终认购券预估数量将于认购开始前 24 小时被锁定。您的最终认购券数量将在认购开始前的几小时被刷新并被最终确认。

1. Pre-sale Statement All participants agree to abide by the FTX Terms of Service andOn the terms.

2. Any participant who violates the FTX Terms of Service or Token Terms will be disqualified. FTX reserves the right to modify the terms and conditions of this Pre-Sale without prior notice.

3. Any abusive behavior, such as registering multiple accounts at the same time, maliciously seeking additional subscription coupons, etc., is strictly prohibited, which will be regarded as cheating and will result in disqualification.

4. U.S. residents and residents of any jurisdiction with restricted jurisdiction are not allowed to participate in this token pre-sale event.

5. The resale of subscribed OXY to U.S. residents or any restricted jurisdiction is strictly prohibited. Oxygen Pre-Sale and Oxy Tokens are not and will not be made available in the United States or to any United States person (as defined in Section S of the United States Securities Act of 1933, as amended).

6. Participation in Oxygen pre-sale and all transactions of OXY tokens are subject to the terms of the tokens.

Cryptocurrency is a high-risk investment, so be sure to pay attention to the risks and fully understand the rules before you participate, warns Blockbeats. Cryptocurrency market changes frequently, please pay attention to the risks.

Welcome to join the official BlockBeats community:

Telegram Subscription Group: https://t.me/theblockbeats

Telegram Discussion Group: https://t.me/BlockBeats_App

Official Twitter Account: https://twitter.com/BlockBeatsAsia