4. What is a Market-Driven Price (aka three-stage) Offering and how does it work?

These offerings consist of three phases:

1. Book Building
2. Subscription
3. Final Offering.

The Book Building phase facilitates discovery of an offering’s offer price and allows you – depending on your bid amounts and price – to be among the first to invest in an offering.

By submitting an expression of interest during the Book Building phase, you can qualify for an allocation (or guaranteed investment amount) which may be used during the offering’s Subscription sale. Not every Book Building participant receives an allocation. Allocations are granted based on a variety of factors, such as the amount of your bid, the amounts of other bids placed, the time your bid was placed relative to others and the overall token supply.

Only investors with allocations can place orders during the Subscription phase. Orders placed during this phase will be filled immediately.

Final Offering phase is an optional round done at the issuer’s discretion and is open to all ADDX investors, whether they earned allocations or not. This phase is your last chance to invest before the offering is listed on our secondary market. Orders placed during the Final Offering phase will be filled on a first come, first served basis.