⛏️Bits Rush
Earn eligibility to claim BRX by helping us testing the peg-in & out from Bitcoin to BiReXe.
Last updated
Earn eligibility to claim BRX by helping us testing the peg-in & out from Bitcoin to BiReXe.
Last updated
To reward early testers of BitREXE, BRX tokens will be distributed to users based on their Peg-in Bitcoin amount. All Bitcoin owners can participate in the Bits Rush on the BitRexe network.
It's the fairest launch in the history of Bitcoin, automatically run by a parallelized smart contract. , written in PREDA.
10% of BRX tokens will be distributed through Bits Rush through 4 seasons, 1000 epochs. See below for the details of the token distribution:
Distribution Starts: March 31, 2024
Total Token Distribution: 10.5 million $BRX
Airdrop BRX: As every Bitcoin (minimum: 0.0001Btc) is successfully pegged in, and while rxBTC is received, 2.5 BRX will be transferred to the user's wallet as a gas fee refund, not according to the exchange rate of the current epoch. No more BRX will be distributed after a total amount of 500,000 BRX has been given to early users.
BitsRush: Starting from March 31, 2024, the "Bits Rush" page will be available. Users can claim a total number of 10,000,000 BRX tokens based on their total Peg-in Bitcoin. 100,000 of BRX will be ready for claiming each epoch. This accounts for 10% of the total supply. Note: These tokens will not be locked.
Once a user has decided to participate in BitsRush, up to 50% of the peg-in rxBTC can be used to claim BRX, as a seigniorage. Users can supply 50% BRX and rxBTC liquidity to the upcoming AMM on BitReXe to earn native yields of rxBTC.
Initial Exchange Rate: 1 rxBTC = 100,000 BRX.
When an epoch is fully claimed. The exchange rate of BRX to Bitcoin will increase by 0.27%, as the next epoch automatically opens for claiming.
As of the final epoch has been completed, the exchange rate will be 1 rxBTC = 29,295 BRX.
Considering the possible high demand of BRX potentially causes excessive claiming of each epoch, which may eventually affect the fairness of the BRX distribution to especially late users. The excessive claiming capacity of each epoch can be no larger than 999. When a certain epoch is overfunded, the available BRX of the NEXT epoch will decrease accordingly, leading to a slightly higher exchange rate of BRX/Bitcoin.
Transaction requests positioned later in the queue may cause failures of claiming.
The exchange rate changes through 11 epochs.
After the completion of every 10 epochs, the exchange rate will be reset to the average exchange rate of the previous day (10 Epochs).
4 Seasons & Last Claimer Bonus
The 1000 epochs are eventually divided into 4 seasons. Each season contains 250 epochs and 2,500,000 BRX ready to claim. The beginning time of the first season is March 31st, 2024, as the openings of the next seasons are undetermined. You can encouraged to follow BitReXe's Twitter to track the update of the Bitsrush.
Once all BRXs are claimed in every 10 epochs, one of the users who claimed any amount with the exchange rate of the 10th epochs（130th, 330th etc,.）receives a last claimer bonus of 0.1 - 10 rxBTC. Every season has 25 winners. The last claimer of the very last epoch receives a bonus of 10rxBTC.
Contract Address (written in PREDA)
| Season | Raising | Bonus avery 10 epoch | Total Bonus of the season | Bonus % |
|---|---|---|---|---|
Season 1
~26.88 BTC
n/a
0
0
Season 2
~37.32 BTC
0.1 rxBTC
2.5 rxBTC
6.6%
Season 3
~51.43 BTC
0.4 rxBTC
10 rxBTC
19.4%
Season 4
~71.93 BTC
1 rxBTC
24+10 rxBTC as Bonus
34.8%
/
Total: ~196 BTC
46.5 rxBTC
