On August 22, SIMEX Digital Asset Exchange published the press-release about the beginning of the public offering. According to the official statement, SIMEX offers convertible preferred shares in the amount of 10 million shares at the price of 20 USD per share. The attracted investment will be used to increase the liquidity of the cryptocurrency for the further development of the digital exchange platform.
PUBLIC OFFERING in accordance with the SEC demands
The key feature of the public offering is that the shares can be bought for cryptocurrencies such as BTC, ETH, Litecoin, Dash, EOS. Investors can buy SIMEX tokens using a smart contract on the blockchain, the SMX tokens can be converted to SIMEX’s shares (20 tokens per 1 preferred share).
Being registered in the USA, SIMEX fully meets all the requirements of the The United States Securities and Exchange Commission.
SMX TOKENS: benefits for traders
Having SMX tokens gives several benefits for traders:
- reduced commission (up to 0%) when trading on the SIMEX Exchange depending on the amount of the SMX tokens on the trader's account*;
- discounts in the purchase of any services and products offered by the SIMEX platform (up to 10% when paying with SMX tokens).
Possible commission rate reductions*:
|1 000 SMX||0.1% Maker||0.15% Taker|
|5 000 SMX||0.05% Maker||0.1% Taker|
|10 000 SMX||0% Maker||0% Taker|
It is necessary to keep a chosen amount of the SMX tokens on the balance to get a reduced commission rate
SMX TOKENS: BENEFITS FOR Investors
Additionally, at the time of the purchase of the SMX tokens, SIMEX reserves an equal amount of the preferred shares of the American Retail Group Inc. The right to receive dividends on a preferred shares is given on condition that the share is held by the shareholder for at least 90 calendar days before dividends payout.
When the price of the company’s common shares reaches $40 on the US public trades, the preferred shares can be exchanged into common shares at the ratio of 1:1
The offer will last till March 1st, 2019 or until the shares are fully sold out.
For more details check the SMX TOKEN SALE section on the SIMEX website.