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Gate.io has Burned the Cautionary Deposit of ALY & KAI and Introduce Compensation Scheme

2020-04-12 23:51:49Read:55309

According to our data reports, within a certain period after listing, situations occurred where the average USDT price of the hourly opening price of ALY and KAI on Gate.io, calculated in any random 48-hour period, became lower than the initial token offering prices (in USDT).

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

ALY deposit burning Details:
Time: April 12, 2020
Amount of Deposit: 250,000 GT
Deposit Burning tx:
https://www.etherchain.org/tx/0x13886861b0ca851c22cd6580829c38f9eca58011dbe9dacd4583d38bdf7275bb

KAI deposit burning Details:
Time: April 12, 2020
Amount of Deposit: 378,600 GT
Deposit Burning tx:
https://www.etherchain.org/tx/0xd10bb74a4e0dba39501a40ee34ba934e82c312a20c9bbf905a882600ab24e626

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 is 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), by UTC 15: 59: 59 on April 12, 2020, 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:
ALY: https://gateio-exchange.mikecrm.com/eOYrBeA
KAI: https://gateio-exchange.mikecrm.com/NQ9XATf
4) The deadline for applying for compensations: UTC 15: 59: 59 on April 30, 2020.

Gate.io sincerely apologizes for the price drops and will compensate users who have suffered a loss because of it. Thank you for your understanding and support!



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Gate.io
April 12, 2020





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