Increase your Stable Cent (CENTUS) with Bill of Exchange (BILLEX). Convert your CENTUS to BILLEX with discount and get a high return at redemption.

You can issue BILLEX tokens for less than 1 CENTUS each through an open discount auction and receive 1 CENTUS at maturity.

To issue a BILLEX, you should participate in an auction, where all participants place their bids, entering a BILLEX number and a price at which they want to convert CENTUS to BILLEX.

The bid is determined at a public auction, where participants themselves offer a price at which they would like to convert their CENTUS to BILLEX. In other words, that are you who determine how much CENTUS will be converted to BILLEX and how much BILLEX will be issued at the price you specified.

FOR EXAMPLE, you specify that you would like to issue 100 BILLEX for 0.9 CENTUS each.

You place you bid sending it to our BILLEX Chat in the following form:

/ifttt GC5XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX 100 0.9
with all data separated by space, where:

/ifttt — required command;
GC5XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX — your Stellar address;
100 — number of BILLEX;
0.9 — price at which you would like to change your CENTUS to BILLEX.

Minimum bid — 1 BILLEX

Your bid is considered accepted after you receive a confirmation from IFTTT bot.

Once you have sent the order, you should transfer specified amount of CENTUS to the Stellar address
GBB3TVTRXVUUE6RNJSYAOHMVDGQCDGHC6M7AOJMJIVQAMUUAX3WZMMWQ to confirm it, only after that your order will become valid.

After receiving all bids, we begin converting holders’ CENTUS to BILLEX by iterating the BILLEX Queue in descending order and selecting bids with the highest rates.

An example of how the discount will be determined:

• Let’s assume that 100 BILLEX are issued at auction.
• Suppose that holders were placed three buy orders:

-one bid for 80 BILLEX at 0.8 CENTUS each
-one bid for 80 BILLEX at 0.6 CENTUS each
-one bid for 80 BILLEX at 0.4 CENTUS each.

• The system will compute the clearing price, i.e. a single price at which all offered BILLEX would have been converted. Here, the clearing price is 0.6 CENTUS.

• The system will fill the winning bids at the clearing price:

-the first participant will receive 80 BILLEX in exchange for 80 * 0.6 = 48 CENTUS
–the second participant will receive 20 BILLEX in exchange for 20 * 0.6 = 12 CENTUS.
–the third participant will receive 0 BILLEX, i.e. all bids below clearing price 0,6 would be considered lost, and the CENTUS would be sent back to addresses they were received from.

BILLEX redemption (payout)

The maximum maturity of BILLEX is 1 year. During this period, BILLEX will be redeemed on a first-in-first-out (FIFO) basis, that is, they will be redeemed one by one, in accordance with their order in the BILLEX Queue.

The FIFO queue incentivizes people to convert their CENTUS earlier rather than later, since BILLEX created earlier are paid out before BILLEX created later.

One year maturity does not mean that BILLEX will be redeemed in exactly one year. They can be redeemed before their maturity date depending on the CENTUS price in the market.

All BILLEX unclaimed after 1 year will be considered overdue and not redeemable.

IMPORTANT: You do not freeze your CENTUS when issuing BILLEX. At any moment, you can sell BILLEX together with accumulated interest on any stellar exchange for any available currency, including CENTUS. In other words, BILLEX is your CENTUS in the form of BILLEX, that earns income.

The seigniorage accrued on CENTUS tokens held in BILLEX will be paid to participants at the time of the redemption.*

The BILLEX issue limit is 1,000,000 tokens. The end of bidding session is in 3 days from the date of the news release. After that the auction results and the clearing price will be published.
The bidding process, participants’ proposals for prices and a number of CENTUS can be observed online at https://bit.ly/2Y3Tcs8.

We wish you have a high profit! 🙂

*Effective only for duration of CENTUS test period.