BISS Exchange will launch the second BISS UP project - Volume Network on May 20, 2019

Dear users:

BISS Exchange will launch the second phase of the BISS UP project - Volume Network on May 20, Hong Kong time.

Launch date and time: May 20th 14:00 – May 21st 22:00

Subscription currency: USDT

Subscription Method:

• Users can place limit orders on the trading page during the price limit period, which is 32 hours (one round only). The first 30 hours are order placement time, and the last 2 hours are liquidation time. The matching of token transactions will be completed during the liquidation period;

Matching method:

• BISS will match the transactions one by one. Users with trading quota can max out their limit buy orders during order placement time. At the end of order placement time, all the buy orders with the same price will be automatically matched by the BISS matching system, hence creating a one-by-one matching transaction. In addition, all pending orders with the same price will be partially completed. The expected trade volume of each buy order is proportional to the total volume of the buy order.

The expected trade volume of buy orders per user should be as follows:

• expected trade volume = (volume of the user’s pending orders/ volume of all users’ pending orders of the current round) * total volume of token subscription

Trading quota: All users can participate and there is no upper limit to the volume of pending orders;

BISS Position Reward: From May 11th to May 20th, BISS will take a snapshot of the number of BISS tokens held by users on 20:00 every day. If the sum of BISS snapshots held during the 10 days is >500,000, you will get free VOL airdrops. The total amount of airdrop is: 1,000,000 VOL.

Open trading hours: trading starts after the end of the liquidation on 22:00, May 21;

Circuit filter mechanism: During the first  3days after the end of the price limit period, in order to avoid excessive volatility caused by market sentiment, the circuit filter mechanism will be triggered if BISS detects a 10% rise or fall of price. The mechanism will last for 2 hours and then stop working.

Points to note:

• This event only supports transactions on webpage;
• If cheating or fraud occurs, BISS will cancel the user’s VOL trading quota;
• The BISS UP project is limited to users who reside in areas that legally allow digital asset trading.

Volume Network Introduction

The Volume Network is a cryptocurrency jointly built by the former co-founder and CTO of TRON.network and Lambda’s core team. The aim of VOL is to create large-scale commercial applications for global use cases.

Volume Network adopts the innovative PoST consensus mechanism which introduces the time-domain operator based on the original PoC(Proof of Capacity) algorithm, and compulsively require the miners to make arithmetical operation with certain time intensity after obtaining the candidate block data based on the characteristics of Verifiable Delay Functions, and make block selection by combining the rapid verification results and candidate block data, so as to alleviate the vulnerabilities in similarly selfish mining, rewriting attack and other security aspects in POC (Proof of Capacity) algorithm. 

Project white paper: https://volumenetwork.io/static/pdf/Volume%20Network%20White%20Paper.pdf

For more information on the Volume Network project, please visit the official website at https://volumenetwork.io

Token symbol: VOL

Total supply: 10 billion

Project valuation: 1million US dollars

BISS UP release: 3%

BISS UP released circulation market value: 30,000 US dollars

VOL starting price: 1 VOL= 0.0001 USDT

Token allocation and release rules:

Private placement and investors: 0%

Initial public offering: 3%

Mining: 97% (6% for ecosystem and 91% for miners)

Risk Warning

Digital asset trading is a high-risk trading method that can result in partial or total loss. Users are encouraged to participate carefully and carefully consider the experience of trading digital assets and the extent to which they can withstand risks before deciding to buy or sell. The contents of this announcement and other information in the currency market do not constitute investment advice, and the currency market will not bear any direct or indirect losses arising from such information. The currency market shall not be responsible for guarantees, compensation, etc. for transactions.

Please note that the final interpretation of this business model can only be issued by the Volume Network team.

For more recent activities, visit our official social media channels of the BISS Exchange:

BISS Weibo: https://weibo.com/bissexchange

BISS Twitter: https://twitter.com/bissexchange

BISS Chinese Telegram: https://t.me/bissofficial

BISS English Telegram: https://t.me/bissexchange