​​Padit X Scientix Auction Tutorial

We’re pleased to announce that Scientix will start the public sale on Padit.finance from Sep 27, 02:00 PM UTC to Sep 28, 02:00 PM UTC! Padit has no whitelist, no minimum, and maximum purchase limits, and is open to everyone.

Scientix is a future-yield-backed synthetic asset platform on Binance Smart Chain. It allows you to get interest-free loans that pay themselves off over time with no liquidation risk, while your collateral earns you yields in the background!

Note:

The bid token will be bSCIX token instead of SCIX token.

Sale info:

Total: 15,000 bSCIX
Sale price: each pool is a crowd-sell pool with the higher price first served

  • Tranche 1: $10
  • Tranche 2: $15
  • Tranche 3: $20

Time: Sep 27, 02:00 PM UTC — Sep 28, 02:00 PM UTC (24 hours)

How to participate:

  1. Visit the website: https://padit.finance and go to Scientix auction page, or visit: https://padit.finance/#/auction/0x18CA4BD354F060e27970f18E818D26dE24c99185, and switch to the BSC network.
  2. The sale will be conducted using BUSD.
  3. The auction will be based on the English auction method.
(All screenshots in this article are from the Padit testnet.)

There will be 3 tranches with set prices of $10, $15, and $20 on the page. You can choose the tranche at a price that meets your expectations.

In the end, the tranches will be executed in descending order of price. After a higher price tranche is filled, if there is still bSCIX left for sale, the tranche with a lower price will be filled until all bSCIX is sold out. If bSCIX is sold out in a pool/tranche, the tokens will be allocated according to the proportion of funds in the pool. The expected tokens bought will be displayed on the page. In the end, the unfulfilled fund will be returned (you will need to manually withdraw it yourself).

The total sale amount is 15,000 bSCIX

For example, let us assume that the three pool orders are as follows:

  • The total number of bSCIX orders for the price of $20 is 5,000
  • The total number of bSCIX orders for the price of $15 is 15,000
  • The total number of bSCIX orders for the price of $10 is 20,000.

The highest-priced $20 pool has the highest priority. The total number of bSCIX orders for the price of $20 is 5,000, so 5,000 bSCIX orders will all be filled. The remaining 10,000 bSCIX that have not been sold out will enter the pool with a unit price of $15, that is, the purchase limit for the pool is 10,000. Because the total number of orders placed in the pool is 15,000, the actual ratio for each person is: 10,000/15,000 = 66.67%. That is, if you place an order for 150 bSCIX, 100 will be filled, and the funds that have not been traded will be returned. The amount of bSCIX allocated to the pool with a price of $10 is 0.

After selecting a price and placing an order in a pool, you can always click the “raise” button to transfer the funds to the pool with a higher price, so that your orders can be fulfilled with higher priority (you can only increase the price, not decrease it). For example, originally one user places a 150 bSCIX buy order for $10, and the user can increase its priority by raising the price to $15 for a 100 bSCIX buy order before the auction finishes.

After the auction ends, buyers can claim bSCIX tokens at Padit. And buyers can start to claim SCIX tokens at Scientix website from Sep 29, 02:00 PM UTC.

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Scientix, a future-yield-backed synthetic token with self-repaying loans, no liquidation.

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Scientix

Scientix

Scientix, a future-yield-backed synthetic token with self-repaying loans, no liquidation.

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