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Announcements Gate.io launches 20% Discount ETH Sale (No.25) on Startup

Gate.io launches 20% Discount ETH Sale (No.25) on Startup

2020-06-26 06:47:47 UTC 93633 Read
To thank our users for their continued support, Gate.io will be offering $250,000 worth of ETH for sale with a 20% discount via ‘Startup’ at GMT 4:00 on June 29th.

To participate in the ‘Startup’ ETH Special Offer, please head over to: https://www.gate.io/startup/50
Mobile users please go to“Market” –“Startup”.

ETH ‘Startup’ Sale 20% Discount Rules:

1. Time: GMT 4:00 June 29th

2. The amount and the price of the ETH for sale will be calculated at a random time within an hour prior to the sale. The data will be updated accordingly on the ‘Startup’ Platform.

3. Participants can purchase with USDT (borrowed USDT will also be allowed; the interest will be calculated on an hourly basis).

4. All the received USDT ($200,000) received will be used to purchase GT from the open market, and the purchased GT will be burned publicly.

5. Participants need to be VIP4 and above.

6. Purchase Limit: The individual purchase limit will be calculated based on the minimum holdings of GT (including asset in Lending/Borrowing Market, and the GT bought with USDT borrowed from Margin Trading; however, GT borrowed from Margin Trading is not allowed) 14 days prior to the sale. Users with no GT holdings cannot participate in the sale. Participants’ purchase limits will increase in correlation to their GT holdings. Below is the chart that shows the purchase limit based on different amounts of GT holdings:

E.g. Bob is a VIP4 and has a minimum GT holding of 2,000 GT. Thus, Bob has met the requirements of holding GT (Tier 1) and being a VIP user. He can place one order in the ‘Startup’ Special Offer token sale.

7. Users need to ensure there is sufficient balance (exceeding the purchase value) in the accounts for the purchase after placing the orders. An insufficient balance will result in the cancellation of the purchase order.

8. Each KYC account can only purchase once.

9. After GMT 6:00, we will collect the qualified orders and distribute the tokens according to the individual purchased orders: total purchased orders ratio. The final result will be announced via Gate.io Official Announcement.

10. The distribution calculation rules are as follows:

F (distribution ratio) = Daily ETH supply limit ÷ Total ETH supply limit
P (actual individual purchased ETH) = F × qualified individual orders
M (actual payment amount) = Startup Sale Price × P
E.g. The sale supply limit is 25 ETH. The amount of order placed is 50 ETH. Bob has placed an order to purchase 1 ETH.

Thus:
F (distribution ratio) = 25 ÷ 50 =0.5
P (actual individual purchased ETH) = 0.5 × 1 = 0.5
M (actual payment amount in GT) = 0.5 × Startup Price in USDT


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Gate.io
June 26, 2020
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