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Development of Simcord’s Partnerships - Step Towards Development of Bitbon System Decentralized Autonomous Community
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Development of Simcord’s Partnerships - Step Towards Development of Bitbon System Decentralized Autonomous Community

An Agreement on Transfer of the Right of Access to the Software Services (hereinafter referred to as the “Agreement”) has been concluded between Simcord and Bit Trade Markets Ltd as part of developing partnerships. The signing of the Agreement was initiated by one of the parties, Bit Trade Markets Ltd, prior to the launch of a unique service, Bit Trade Mining Accelerator (BMA), in order to increase the number of Bit Trade Customers. The launch of BMA intended for automatic management of Bitbons in the mining pool of the service in the interests of its Users is scheduled for early October 2020.

Taking this into account and adhering to the adopted development strategy for 2018–2035, in particular when it comes to assisting Simcord in creating a favorable environment and conditions for forming the Bitbon System Decentralized Autonomous Community, as well as fulfilling its mission, the Company reviewed the offer of Bit Trade Markets Ltd and signed the Agreement. This Agreement states that Simcord shall transfer 1,000,000 Bitbon accounting units (out of the number of Bitbon accounting units it owns according to Clause 7 of the Bitbon System Public Contract) to Bit Trade Markets Ltd for temporary use as part of their partnership.

Thus, based on the Agreement, Simcord must make two transactions of 500,000 Bitbon accounting units each to Bit Trade Markets Ltd until October 5, 2020. After all conditions of the Agreement are fulfilled, Bit Trade Markets Ltd shall return 1,000,000 Bitbon accounting units taken for temporary use to Simcord.