Hibt Announcement on ALEO Futures Settlement

Dear Users,

Due to recent significant price fluctuations in ALEO futures following the launch of the ALEO token mainnet, and the market price differing from user expectations, the Hibt team has made the following decisions to better protect user interests:

1. For users who purchased ALEO/USDT futures at 8 USDT to 11 USDT:

The settlement ratio will be adjusted to 1 ALEO futures = 2 ALEO points.

Note: Users in this category purchased a total of 17,211.26 ALEO futures, and Hibt will provide an additional 34,422.52 ALEO points.

2. For users who purchased ALEO/USDT futures at 11 USDT to 15 USDT:

The settlement ratio will be adjusted to 1 ALEO futures = 2.5 ALEO points.

Note: Users in this category purchased a total of 23,375.6 ALEO futures, and Hibt will provide an additional 58,439 ALEO points.

3. For users who purchased ALEO/USDT futures at 15 USDT or above:

The settlement ratio will be adjusted to 1 ALEO futures = 3 ALEO points.

Note: Users in this category purchased a total of 12,473.21 ALEO futures, and Hibt will provide an additional 37,419.63 ALEO points.

Settlement Rules:

1. Users who purchased ALEO futures but sold them before 12:00 (UTC) on September 19, 2024, will not be eligible for the above benefits.
2. The total settlement for ALEO futures is 183,341.22 ALEO, of which 53,060.07 ALEO represents the original purchase amount, and 130,281.15 ALEO represents the additional ALEO points provided by Hibt.
3. The extra ALEO points are provided by the Hibt Foundation, with 50% coming from the Hibt Board, 30% from the Hibt Employee Fund, and 20% from the Hibt Labs team.

Additional Notes:

Although the Hibt team could have enforced a 1:1 settlement as per the original agreement, this would not align with our core values. After 36 hours of discussion, we overwhelmingly voted to provide an excess settlement for all users. Cryptocurrency assets, especially futures, are inherently volatile, but we are committed to being a customer-centric crypto exchange.

Given the significant number of excess ALEO points, we recommend users who wish to sell their points do so directly on Hibt. Due to this excess settlement, the depth of the ALEO/USDT trading pair on Hibt should exceed most other exchanges in the short term.

Risk Reminder: Digital assets are innovative investment products with significant price volatility and high investment risks. Before investing, we encourage you to have a comprehensive understanding of digital assets, make a rational assessment of your investment capacity, and exercise prudence when making investment decisions. Wish you a pleasant trading experience!

Hibt

September 23, 2024