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What is IoTeX? || $25000 Giveaway by WazirX

IoTeX is a Decentralised Network For Internet Of Things Powered By Blockchain.

Indian Crypto Exchange WazirX is running a partnered giveaway with IoTeX over multiple activities since Thursday for a total value of $25000 in IOTX tokens. In this article, we will learn what is IoTeX and how users can participate in the giveaway.

What is IoTex?

IoTeX is building the Internet of Trusted Things, where all physical and virtual things can efficiently exchange information and value at a global scale. Traditionally, the devices that operate and exchange information over the internet, known as IoT devices, are sending the user data to large conglomerates that control it. The users receive no part of the profits that these huge centralised companies make from the user data collected.

IoTeX’s Research and Development team is comprised of Ph.Ds from the University of Waterloo and the National University of Singapore, and engineers in cryptography, artificial intelligence, and IoT who previously worked for Google, Facebook, Uber and Bosch.

IoTeX’s vision is to “drive end-to-end trust throughout the entire information life cycle in an IoT network, including data collection, transport, storage, and utilization”.

IoTeX products:

Some of the key launches by the foundation include:

  • Self-Sovereign Devices: new “Powered by IoTeX” devices based on the IoTeX Decentralised Identity (DID) system; standardisation of DID protocols through collaborations with enterprises and standards bodies, such as IIC & IEEE.
  • Real-World Data Oracles: first-of-its-kind oracle framework to bring verifiable real-world data to IoTeX to fuel new machine-backed assets/DApps; position IoTeX as the de facto hub to “serve” real-world data to Ethereum, Polygon, and other networks.
  • Decentralised Autonomous Machines (DAMs): a framework for sensors, devices, and machines to autonomously generate value for humans via on-chain data/assets – e.g., fractional ownership of machines, real-time leasing of resources, machine-as-a-service.

IOTX Token:

IOTX is the native token that gives holders access to the IoTeX network. IoTeX uses a Roll-Delegated Proof of Stake Consensus with 36 delegators on the chain. IOTX holders can stake and vote for delegates, democratically shaping the future of the easy-to-use IoTeX network, increasing its value in the process.

Here are some IOTX stats (as of Aug 29, 2021):

  • Trading Price (past 24 hr): $0.079 USD
  • Global Market Cap: $749,668,690 USD
  • Global Trading Volume (past 24 hr): $58,385,344 USD
  • Circulating Supply: 9.5 Billion  IOTX
  • Total Supply: 10 Billion IOTX

Trading IOTX on WazirX

IOTX is trading on both INR and USDT market on WazirX, however since it is a Rapid Listing Initiative, you will need to link Binance Account with WazirX for deposits and withdrawals.

  • Deposits – Participants can deposit IOTX from Binance wallet to WazirX.
  • Withdrawals – Participants can withdraw IOTX to their Binance wallet.
  • Trading – Participants can buy, sell, trade IOTX in their USDT and INR markets.

Giveaway and Program Schedule for IoTeX Giveaway

  • Thursday, Aug 26: AMA with Art Malkov. Learn everything about IOTX and win total prizes of $100.
  • Friday, Aug 27: Quiz in WazirX Telegram group with prizes worth $500. Show off your IOTX knowledge in a fun quiz session and win.
  • Friday, Aug 27: Trivia contest on WazirX Instagram page with prizes of $70.
  • Monday, Aug 30 – Wednesday, Sep 01: 48-hour long Highest Trader Kaun Marathon with prizes of INR 18,63,000 ($24000) worth IOTX for top 300 traders.

AMA with IoTeX (IOTX)

The AMA was conducted with Art Malkov, Head of Growth, to learn everything about IoTeX.  The questions were sourced from WazirX’s Twitter followers and telegram users. You can read the whole transcript here.

Giveaway:

$90 for the top 10 questions selected from Twitter.
$100 for the top 5 live questions from Telegram group.

Instagram Trivia Contest for IOTX

WazirX Instagram trivia on IOTX received an overwhelming response which also ponders upon the possibility of people actually learning new things on Instagram.

When: Ended

Where: instagram.com/wazirx

Giveaway:

One winner was chosen from every question who gave all the correct answers and won 176 IOTX.

IoTex Quiz

WazirX hosted a quiz session about IoTeX in WazirX Telegram group. Users were able to show off their IOTX knowledge and win prizes.

When: Ended

How to participate in future Quizzes?

Giveaway:

 1st prize: $100
 2nd – 5th prize: $50 each
 6th – 10th prize: $20 each
 11th – 20th prize: $10 each

Reading resources:

Highest Trader Kaun Marathon: IOTX/ INR

Highest Trader Kaun Marathon welcomes participants with prizes for the top 300 traders. Typically WazirX rewarded 180-200 users. So at least 50% more users can win a reward.

About the Contest:

  • The trading contest is from Monday, Aug 30, 9 AM to Wednesday, Sep 01, 9 AM IST.
  • It will be run non-stop for 48 hours. 
  • Total prize of INR 18,63,000 (~ $24000 USD) worth IOTX. Participants can win rewards based on their trading performance for the entire 48-hour long trading contest marathon!

How can participants take part in the contest and win?

Winners will be determined based on the volume of IOTX traded in WazirX’s INR market.

What are the prizes?

Prizes for top 300 traders in the contest:

Trader RankPrizes/person (IOTX)INR worth
145490.80279450
230327.2186300
315163.693150
4 – 109098.1655890
11 – 204245.8126082
21– 302122.913041
31 – 401213.097452
41 – 50909.825589
51 – 100606.543726
101-150333.602049
151-200151.64932
201-30090.98559

Happy Trading!

Note: For the entire giveaway, IOTX price will be considered at $0.0791, i.e., INR 6.143 and all prizes will be distributed by September 15, 2021

Previous WazirX Listing and Giveaways:

Disclaimer: Coin Crunch partners with multiple projects for consulting and marketing initiatives. Our editorial however remains uninfluenced by our partners unless specifically mentioned. For more details about our policies, please check out this disclaimer.

Risk Warning: Crypto trading is subject to high market risk. Please ensure that you undertake sufficient risk assessment when trading newly listed tokens as they are often subject to high price volatility. WazirX will make best efforts to choose high-quality coins, but will not be responsible for your trading losses.

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