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Coin Price 24h %

Gate.io has Burned the Cautionary Deposit of KGC & DILI and Introduce Compensation Scheme

2019-10-11 18:24:37Read:64472

According to our data reports, within a certain period of of listing, there have been situations where the average USDT price of hourly opening price of KGC and DILI on Gate.io calculated in any random 48-hour period become lower than the initial token offering prices (in USDT).

As per the previous listing rules, Gate.io has deducted the cautionary deposit from Krypton Galaxy and D Community. The GT locked up in the deposit will be burned publicly.

KGC deposit burning Details:
Time: Oct 11, 2019
Amount of Deposit: 260,000 GT
Deposit Burning tx:
https://etherscan.io/tx/0xd45cbf5e021d8effa4a87a23640d2cf4ae7fa585626b70a7933e00f2f12d295d

DILI market price calculation and deposit burning Details:
Time: Oct 11, 2019
Amount of Deposit: 240,000GT GT
Deposit Burning tx:
https://etherscan.io/tx/0xcbbe9414ffd6837c59a2a9a4414f3854b8131dabb6d551d0c86d0a86a1ea879b

Note: the amount of deposits were calculated according to the fund raising goal and the GT price at that time.

Compensation Scheme
For Startup participants who have not sold the token or had already sold the token with prices lower than the initial offering price (losses incurred in secondary marketing trading are not included, value of losses are calculated in the asset used for investment), Gate.io will be offering compensations. The details are as follow:
1) For users who have not sold the project token (excluding the amount purchased from secondary market), the amount of GT for compensation will be calculated based on the token price difference ratio
2) For users who have sold the project token with prices lower than the initial offering price (losses incurred in secondary marketing trading are not included), if the value of token sale does not cover the GT spent when participating in the Startup, the respective amount of GT will be compensated.
3) For users who wish to apply for compensations please submit the tickets below:
KGC: https://gateio-exchange.mikecrm.com/hKMDWQF
DILI: https://gateio-exchange.mikecrm.com/6xnUBjd

Gate.io sincerely apologize for the price drops and will compensate to users who have suffered from unfortunate capital loss. Thank you for your understanding and support!

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Gate.io
Oct.11, 2019