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Gate.io Launches Single Listing Vote #14 – ChainX (PCX)

2020-08-26 10:11:33Read:33546

Gate.io is a trading platform that does not charge listing fees, only launches quality projects, and provides users with a variety of blockchain assets trading services. To involve a higher number of users in the process of expanding our list of coins, Gate.io has implemented a new feature called "single listing vote," offering even more opportunities to launch high-quality projects.

In each single listing vote, participants can vote for the project. If the project attains the targeted votes after the vote, its tokens will be listed on Gate.io. All voters have a chance to win an airdrop of the project token according to the ratio of the votes they contributed to the number of votes in total.

Currently, we have introduced a new single listing vote scheme where voters participating in each vote have to pay a bit USDT for the airdrop welfare. The USDT amount deducted from voters will be used to buy back and burn GT. The voting price required by voters will be presented on the voting page and the money will be deducted within two hours after the vote. Voters should make sure the USDT balance is sufficient on their account, or they might fail to claim their airdrop benefit.
1. Duration: 02:00 AM GMT August 26th, 2020 – 02:00 AM GMT August 27th, 2020

2. Airdrop Amount:
Once ChainX gets 10 million votes, the trading service of PCX will be available on Gate.io. Each voter has a chance to share an airdrop of 8,554.10 PCX after paying a certain amount of USDT.

3. Participate in the Single Listing Vote at: https://www.gate.io/poll/votelist/40
4. Deposit PCX at: https://www.gate.io/myaccount/deposit/PCX

Introduction to ChainX

1. Project Introduction
ChainX is a PoS consensus network based on the substrate framework and is widely referred to as the "First Chain of Substrate". The mainnet went online on May 25, 2019. As the first Chain of the Polkadot eco, ChainX aims to build an asset gateway for the Polkadot eco. ChainX has completed the BTC inter-chain, and will gradually bridge ETH, DOT, FIL, EOS and other assets. In addition, Chainx has also built the first Bitcoin smart contract platform, which provides a foundation for BTC-based DeFi, stablecoin, Dapp and other applications.

Official website: https://chainx.org
Link to Whitepaper: https://chainx-static.oss-cn-hangzhou.aliyuncs.com/chainx_cn.pdf

2. Token Information
The ChainX mainnet token is PCX (P stands for Polkadot), with a total of 21 million, which halved every two years. The tokens are all produced by mining, no private-equity, no pre-mining. Staking PCX on node or depositing the cross-Chain asset could get PCX revenue. At present, the annualized revenue on PoS is as high as 70%.
(1) Token symbol: PCX

(2) Total supply: 21 Million

(3) Current Circ. Supply: 6286550 (8.14 11:46)

(4) Token allocation
ChainX will issue PCX, with a total of 21 million and the amount released halved every two years. 20% of the issuance in the first two years is distributed to the founding team for ongoing development. After two years, all new issuance will be distributed to the community.

The founding team will only account for 10% of the total. ChainX Council Fund: ChainX has established the ChainX Council Fund, which is fully managed by the ChainX Council. All funds are used for community operations and ecosysterm development. 15.4% of the tokens produced daily belongs to the ChainX Council Fund.

(5) Token release schedule
The mining cycle of ChainX is 5 minutes, and the initial single-cycle reward is 50PCX, which is halved every 210,000 cycles.
(6) Token Price
There is no private-equity, the initial price is 0, the current price is 6.2 U (08.14 11: 46)

(7) Inflation Rules
No inflation

Gate.io Single Listing Vote Scheme(with GT buyback and burn included)
1. Participants: all the GT holders on Gate.io 1 GT=1 vote
2. Vote allocation: For every participant, their vote equals the average 14-day GT holding including assets in Lending/Borrowing Market, and the GT bought with USDT borrowed from Margin Trading, however, GT borrowed from Margin Trading is not allowed. The user’s votes will be calculated based on the average 14-day GT holding within two hours after the listing vote. Thus, please don’t make any changes to your GT holding before the counting of the votes.
For example, Bob is a new GT holder, and he buys and holds 14000GT one day before the sale. Therefore, his average 14-day GT holding will be 1000GT 14000GT/14 days, and he will have 1000 votes.

3. Every real-name participant can vote with his GT for the project.

4. When the vote begins, the voting prices of both projects will be presented on the voting page; once the voter confirms his vote, he has to pay based on the airdrop amount he wins, and the money will be automatically deducted within two hours after the vote. Voters should make sure the USDT balance is sufficient on their account, or they might not be able to claim their airdrop benefit.

5. In this listing vote, when the project gets 10 million votes, the tokens will be listed.

6. After the single listing vote, all voters will be rewarded with an airdrop of the tokens. Meanwhile, the time for trading, withdrawal, and deposit of the tokens will be announced.

7. Airdrop reward and voting cost:
1) Airdrop token: The tokens of the project will be airdropped after the vote.
For example, project A is participating in the single listing campaign. User X supports project A and votes for it. After the vote, User X is eligible to win an airdrop of the tokens of the project A, and user X has to pay a bit of USDT for the airdrop benefit.

2) Airdrop reward: After this listing vote, the tokens of the project will be airdropped. All voters will win the token of the project. The airdrop of the tokens will be ratioed according to how many votes of the voter account for the total votes. The airdrop amount each voter can obtain for the project is calculated as follows:
Votes casted by the voter for the project÷total votes received by the project×airdrop amount of the project

3) Amount deduction: After each vote, Gate.io will calculate the airdrop amount each voter wins for each project, and automatically conduct a deduction (in USDT) based on the following formula:

Airdrop amount each voter wins for the project×vote price of the project token

8. The GT buyback and burn would be applied to our Single Listing Vote campaigns from now on. Gate.io is adopting this approach as part of its efforts to facilitate the value of GT; all USDT made from the deductions will be used to buy back and burn GT.

9. Attention:
(1) Cheating: Gate.io will cancel the votes of an account if any cheating is detected or reported by other users and confirmed. The account will no longer be qualified for the listing vote if more than three cheating records have been registered.

Gate.io reserves the final right to interpret this activity.

Gate.io is a trading platform that does not charge listing fees, only launches quality projects, and provides users with 100% guaranteed and instant deposit-withdrawal services.
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Gate.io
Aug 26, 2020

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