Freela is a first DeFi powered and self-governing DAO designed to act as a decentralized platform for freelancing transactions. It serves for both B2B and P2P commission-free transactions matching skilled freelancers for job postings worldwide.
Two separate auctions (Standard & Uncapped) will be held simultaneously. Each user account can bid in both auctions.
FREL Standard Auction
Price discovery with a minimum and maximum bid amount.
Participate by bidding 100 USDT + up to 45 ASD(BTMX) or 1125 ASDP(BTMXP). AscendEX users can earn the eligibility to bid for additional FREL based on their trailing 6-day average ASD(BTMX) holdings or trailing 29-day trade volume. If more than 750 bid items with 150 USDT + 45 ASD(BTMX) / 1125 ASDP(BTMXP), a random draw will be conducted to select winners. Bid the cap for your eligibility to win.
FREL Uncapped Auction
Price Discovery with a minimum bid amount and no maximum.
Participate by bidding 100 USDT + as much ASD(BTMX) / ASDP(BTMXP) as you’d like. The auction will close at your bid or better if you are amongst the top-250 best bids. Bid aggressively to win.
Read and agree to FREL Auction Agreement
I have read and agree to
Participants are required to complete KYC 2 verification.
Users from the following countries/regions are not eligible for participation:
The United States, Balkans region, Belarus, Myanmar, Côte d’Ivoire, Cuba, Democratic Republic of the Congo, Iran, Iraq, Liberia, North Korea, Sudan, Syrian Arab Republic, Zimbabwe, Algeria, Bangladesh, Bolivia, Cambodia, Ecuador, Nepal, Afghanistan, Burundi, Central African Republic, Singapore, Malaysia, Ethiopia, Guinea, Guinea-Bissau, Lebanon, Sri Lanka, Libya, Serbia, Somalia, South Sudan, Thailand, Tunisia, Trinidad and Tobago, Ukraine, Uganda, Venezuela, and Yemen.
- Read and agree to FREL Auction Agreement
- Participants are required to complete KYC 2 verification.
Users from the following countries/regions are not eligible for participation:
3.The United States, Balkans region, Belarus, Myanmar, Côte d’Ivoire, Cuba, Democratic Republic of the Congo, Iran, Iraq, Liberia, North Korea, Sudan, Syrian Arab Republic, Zimbabwe, Algeria, Bangladesh, Bolivia, Cambodia, Ecuador, Nepal, Afghanistan, Burundi, Central African Republic, Singapore, Malaysia, Ethiopia, Guinea, Guinea-Bissau, Lebanon, Sri Lanka, Libya, Serbia, Somalia, South Sudan, Thailand, Tunisia, Trinidad and Tobago, Ukraine, Uganda, Venezuela, and Yemen.
Eligibility requirements for Standard Auction: Trailing 6-day average ASD(BTMX) holdings ≥10,000 ASD(BTMX) or trailing 29-day trade volume ≥30,000 USDT (not applicable for Uncapped Auction).
1. From 1:00 p.m. UTC to 2:00 p.m. UTC on May 26, users can place bids in both the Standard and Uncapped auctions. Only USDT, ASD(BTMX), and ASDP(BTMXP) in a user’s Cash Account can be used as payment in the auctions. Users can submit bids multiple times. Once a new bid is submitted successfully, the corresponding amount of additional ASD(BTMX) or ASDP(BTMXP) will be deducted from the user’s Cash Account. The last bid outstanding will be deemed as the user’s final bid.
2. To increase likelihood of winning in the Standard Auction, a user should monitor the 750th bid closely and submit bids that are greater than or equal to the 750th bid. If the Bid Cap is submitted by >750 participants, a user can still have their bid being included in a random draw by submitting the Bid Cap.
3. To increase likelihood of winning in the Uncapped Auction, a user should monitor the 250th bid closely and submit bids that are greater than or equal to the 250th bid. The Uncapped Auction will close at the USDT + ASD(BTMX) or ASDP(BTMXP) price submitted by the 250th best bid. It means that a user can bid a ASD(BTMX) (or ASDP(BTMXP)) quantity well above the 250th bid and potentially have their bid partially refunded. The logic of the Uncapped Auction is designed to achieve that all winners will pay the same price; Therefore, a user does not need to be concerned about paying a premium relative to other participants in the Uncapped Auction.
4. For users who do not win the bid, their USDT and ASD(BTMX) (or ASDP(BTMXP)) bids will be fully refunded within 2 hours after the auctions.
5. At the end of auctions, winners need to submit the AscendEX account and auction confirmation code on Freela’s official website by May 27, 11:00 a.m. UTC. Failure to timely submit the required information will be deemed as the users’ voluntarily forfeiting their bid item(s). In the event of such forfeiture, the USDT and ASD(BTMX) (or ASDP(BTMXP)) bids will be refunded by May 27, 4:00 p.m. UTC.
6. Bid Item Distribution Window: May 27, 11:00 a.m. UTC — 2:00 p.m. UTC.
7. AscendEX reserves the final right to interpret and adjust these Terms and Conditions. For any abusive or suspicious activities, the users will be disqualified from the auction once identified.
Join Freela Trading Challenge to Win 61,000-USDT Token Rewards
AscendEX is excited to announce the exclusive primary listing of Freela (FREL) under the trading pair of FREL/USDT on May 27 at 3:00 p.m. UTC, 2021.
In celebration of FREL listing, AscendEX and the FREL team will jointly launch two limited-time promotional events with 61,000 USDT worth of token rewards!
Event One: Trading Challenge
Time: May 27, 3 p.m. UTC — June 7, 12 a.m. UTC
Each participant with at least 9 referees whose FREL trading volume is required no less than 100 USDT will be eligible for participation as a team. A team will only be built with at least 10 members where the referrer is the team leader. Each team leader should complete and submit the Event Registration Form to participate between May 26, 10:00 a.m. UTC and May 30, 12 a.m. UTC.
There will be 3 rounds of FREL Trading Challenge. Top teams ranked by *weighted trading volume will enter the next round.
- Team-Based Prize
Teams with *weighted trading volume greater than 2,000 USDT will be eligible to share in the prize pool worth 50,000 USDT. The details are as follows:
* Team’s Cash Trading Volume (including margin trading) = Referrer’s Cash Trading Volume (Buy + Sell) + All Referees’ Cash Trading Volume (Buy + Sell)
* Team’s Weighted Trading Volume = Cash Trading Volume (including margin trading) * Trading Factor. Trading Factor for FREL trading is 5; for other tokens trading, 1.
Here is an example: Alice Team’s total trading volume during the event is 5,000 USDT in FREL and 10,000 USDT in ASD (BTMX). Then the team’s Weighted Trading Volume would be 35,000 USDT based on the calculation of 5,000 USDT*5+10,000 USDT*1.
☛Trade FREL/USDT now.
2. Participation Prize
Users with FREL trading volume ≥ 100 USDT and not belonging to any team will be eligible to share 10,000 USDT worth of FREL tokens equally.
Terms and Conditions:
1. Team-based Prize = (Team’s Weighted Trading Volume/Total Weighted Trading Volume of All Eligible Teams)* Prize Pool
2. Users must complete the KYC Level 1 verification (or higher level) in order to be eligible for participation.
Event Two: Forward Promotional Poster to Share 1,000 USDT
Users who complete tasks below will get a chance for a share of 1,000 USDT worth of FREE tokens. 100 winners will be selected by a lucky draw and each winner will receive 10 USDT worth of FREL tokens.
1. Share the poster of FREL listing to 3 telegram groups with members ≥ 2,000 (except for AscendEX official Telegram group) and take screenshots.
2. Complete and submit the Event Registration Form with the screenshots.
3. Join AscendEX official Telegram and FREL Telegram groups.
1. Users must complete the KYC Level 1 verification in order to be eligible for participation.
2. Participants must join the AscendEX official Telegram group.
Rewards will be distributed to the user’s account within 15 days after the event.
AscendEX reserves the final right to interpret and adjust these Terms and Conditions. For any abusive or suspicious activity detected, AscendEX will take action and disqualify the user from the events.