BMN1 Redemption Guide

Great news! The accounting for BMN1 is done and you can start requesting a redemption to receive your payout or roll over your BMN1 to BMN2 from 18 July 2024 at 10:00 AM UTC/12:00 PM CET.

Prerequisites to redeem BMN1:

• Please make sure you didn’t receive any email from our compliance team ([e-mail])  regarding your KYC. Your KYC should be verified on the checklist on your investor dashboard. 
• As part of the redemption process to receive your payout, you will be asked to send your BMN1 securities to the treasury wallet. It is an AMP wallet that is managed by the issuer of the securities. If you have lost access to your AMP wallet holding the BMN1 securities, please contact our support team.
• Please note that we will transfer 0.00002 LBTC in your AMP wallet to cover your transaction costs to send BMN1 to the treasury wallet as part of the redemption process.
• We also highly recommend you to enable 2FA on your STOKR account and protect your account with an additional layer of security to log in.
  
  

How to Redeem BMN1:

Key information on the BMN1 redemption:

• BMN1 maturity date: 06 July 2024.
• Right after the maturity, BMN1 will be locked from further transfers to determine the holdings per investor. 
• The closure of the accounting for BMN1 will commence after the maturity and might take up to 10 calendar days. 
• Investors can request redemptions from their Investor Dashboard on STOKR starting 18 July 2024 10:00 AM UTC/12:00 PM CET.
• Investors must make a redemption request for every AMP wallet holding BMN1.
• To finalize a redemption request, investors must send their BMN1 to the treasury wallet to verify control over their payout AMP wallet.
• Investors will receive the payout in Liquid Bitcoin (L-BTC) in the AMP wallet from which they sent their BMN1 to the treasury wallet.
• The payout can take up to 24 hours (excluding the weekends) after BMN1 securities are sent to the treasury wallet. The payout will follow a fixed schedule between 3 and 6pm CET every working day from 19 July 2024. If you do not receive the payout, please contact our support team. 

Important considerations:

1. On which AMP wallet will I receive the payout?
   The payout will be received on the AMP wallet holding the BMN1. 
2. What happens if I have lost access to my AMP wallet?
   If you have lost access to your AMP wallet, please write to our support team immediately.
3. In which currency will I receive my payout?
   You will receive your payout in L-BTC.
4. I made a redemption request, what are the next steps?
   Please continue by sending the BMN1 to the treasury wallet. The treasury wallet will be provided to you after requesting a redemption. We have transferred 0.00002 L-BTC on your AMP wallet to cover your transaction cost.
5. When will I receive the payout?
   The mining for BMN1 will terminate on 06 July at 24:00:00 UTC. At the maturity of BMN1 on 06 July 2024, 24:00:00 UTC, STOKR will lock all BMN1 to determine the distribution of BMN1 per security holder. Upon the locking of BMN1, you will not be able to transfer BMN1 anymore.
   The closure of the accounting for BMN1 will commence after the maturity and might take up to 10 days. Investors can request redemptions from their Investor Dashboard on STOKR starting 18 July 2024.
6. When will I receive the payout after requesting the redemption?
   Upon reception of the BMN1 securities in the treasury wallet, the payout should be settled within 24 hours (excluding the weekends). The payout will follow a fixed schedule between 3 and 6pm CET every working day from 19 July 2024.  If you do not receive the payout, please contact our support team.
7. What happens if I cannot redeem before the end of the payout period?
   We aim to settle all BMN1 payouts within 10 business days (payout period), starting from July 18, 2024, and ending on July 31, 2024, at around 6:00 PM CET. Due to the manual effort required for L-BTC payouts, we cannot provide a predetermined schedule for payouts after July 31, 2024. However, any requests received by August 31, 2024, will be processed without additional charge.
   Starting from September 1, 2024, the management company will charge a monthly management fee of 0.5% on L-BTC claims per BMN1. Any L-BTC payouts or roll-over after this date will be processed after adjusting for the prorated management fee.