Dear users,
Regarding the issues encountered after the launch of Bitsui (SSBT) on March 13th at 17:00 (GMT+8), where some users were affected by price fluctuations, we deeply apologize for any inconvenience caused. The platform will fully compensate for losses incurred by all users participating in the Launchpad exchange according to the following rules:
1. Compensation scope:
Users who participated in the Launchpad investment and exchange of WBS for SSBT between March 11th at 17:00 and March 12th at 18:00 (GMT+8) will be eligible for corresponding compensation measures.
2. Compensation rules:
For the aforementioned users, the platform will adopt two compensation methods:
- Price difference compensation:
Compensation will be based on the difference between the cost price of acquiring SSBT through Launchpad at $0.0005 USD and the selling price of the transaction. Compensation will be granted only if the selling transaction price is lower than the cost price of $0.0005 USD.
Example:
User A acquired 100,000 SSBT through Launchpad at a cost price of $0.0005 USD.
After SSBT went live on March 13th at 17:00 (GMT+8), they sold 50,000 SSBT at a price above $0.0005 USD (no compensation for this portion), and then sold the remaining 50,000 SSBT at $0.0003 USD. In this case, the user will receive compensation of 50,000 * (0.0005 - 0.0003) = $10 USDT.
- Launchpad rollback:
Compensation will be based on the amount of SSBT acquired through Launchpad and the amount of WBS invested by the user.
Example:
User B acquired 100,000 SSBT through Launchpad with an investment of 16 WBS.
After SSBT went live on March 13th at 17:00 (GMT+8), they sold 50,000 SSBT at a price above $0.0005 USD (no compensation for this portion). The platform will then reclaim the remaining 50,000 SSBT, compensating the user with 8 WBS.
3. Compensation process:
1. Users who believe they meet the above conditions should contact online customer service to provide their UID and select their preferred compensation method (price difference compensation or Launchpad rollback).
2. For eligible users, the platform will verify within 3 working days and disburse the compensation amount to the user's account. Please be patient.
3. Deadline for compensation applications: March 15th, 2024, 24:00 (GMT+8). Please submit your application before the deadline, as no compensation applications will be accepted after this date.
Note:
1. For any questions or feedback regarding compensation rules or progress, users can contact Websea's online customer service.
2. With a commitment to user satisfaction and the creation of high-quality platforms, the platform will rigorously review projects before they go live.
3. Websea will continue to provide users with excellent products and high-quality services.
4. The final interpretation rights belong to Websea.
Websea Team
March 13, 2024
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