Gate.io Startup Initial Free Offering: Monsoon Finance (MCASH) and Announcement of Free Distribution Rules (250,000 MCASH free of charge)
About Gate.io Startup Free Airdrop Program In order to reward platform users, Gate.io launched the "Startup Project Free Airdrop Program". Free airdrops for excellent blockchain projects are launched in the Startup area from time to time. VIP and GT users can get a variety of tokens via airdrop benefits.
Gate.io Startup will launch its next project, Monsoon Finance (MCASH), on September 29th, 2021 at 02:00 AM(UTC).
Startup Link: https://www.gate.io/en/startup
Introduction to Monsoon Finance (MCASH)
When cryptocurrencies are inevitably used as forms of payment for everyday goods and services, privacy is paramount, otherwise anybody you pay can instantly know your net worth. For example, if you go to the grocery store now to buy some food, the grocery store cannot ask your bank for your net worth or transaction history. However, all this data is public with blockchains. Therefore businesses can make judgments about you, or worse, adjust their pricing, based on your net worth. Monsoon Finance is a multi-chain privacy protocol that solves this issue by building a suite of privacy tools that can be used by every DeFi user of every smart contracts blockchain. Monsoon uses zk-SNARKs to break the link between cross-chain and wallet-to-wallet transactions.
(The information below is provided by the Monsoon Finance team. Please follow website for more information）
Token Information
Token name: Monsoon Finance
Token symbol: MCASH
Max Supply: 100,000,000 MCASH
Token Type: Polygon ERC20
Token Contract: 0xa25610a77077390a75ad9072a084c5fbc7d43a0d
Token Distribution and Unlocking Rules:
Seed: 6.25%
5% at TGE, then linear vesting 10.55% monthly over 9 months
Private: 13%
8% at TGE, then linear vesting 10% monthly over 9 months
Public: 1.25%
50% at TGE, then linear vesting 25% monthly over 2 months
Anonymity Farming Rewards: 9%
Linear vesting 8% monthly
Liquidity Farming Rewards: 9%
Linear vesting 8% monthly
Governance: 25%
Cliff 3 months after TGE, then linear vesting 5% monthly
Marketing: 17%
5% at TGE, then linear vesting 5% monthly
Development: 7%
5% at TGE, then linear vesting 5% monthly
Advisors: 6%
Cliff 3 months after TGE, then linear vesting 5% monthly
Team: 6.5%
Cliff 3 months after TGE, then linear vesting 5% monthly
Website: https://monsoon.finance/
Whitepaper: https://monsoon.finance/Monsoon%20Whitepaper.pdf
Monsoon Finance Startup Sale Rules
(1) Duration: 02:00 AM-10:00 AM(UTC), September 29th, 2021 (Orders placed by qualified users within these 8 hours will be treated equally.)
(2) To participate in the Startup Sale, users will need to be VIP1 and above.
(3) Price: $0/MCASH; Public Sale Price: $0.2; Startup Supply: 250,000 MCASH
(4) Purchase limit: The maximum subion limit for a single user is 1000 shares; the relationship between the VIP level and the maximum subion allocation is:
the maximum number of subions (not the final actual subion number) = the square of the VIP level multiplied by 10. For example:
VIP2 users can subscribe up to 2 x 2 x 10 = 40 shares
VIP3 users can subscribe up to 3 x 3 x 10 = 90 shares
(5) Unlocking Rule: 50% at TGE, then linear vesting 25% monthly over 2 months.
(6) Users place orders using USDT.
(7) Users can place orders from 02:00 AM-10:00 AM(UTC), September 29th, 2021. Orders placed by qualified users within these 8 hours will be treated equally.
(8) Users need to ensure that there is sufficient balance (exceeding the purchase value) in accounts for the purchase after placing the orders until we announce the sale result. An insufficient balance will result in the cancellation of the purchase order.
(9) Each type of currency can only be purchased once with each KYC account.
(10) After 10:00 AM(UTC), we will collect all the qualified orders and distribute the tokens according to the ratio of the individual purchase orders to the purchase orders in total.
(11) Trading starts time: 02:00 PM(UTC), 30th September, 2021
Gate.io Labs Investment Participating Disclosure
Gate.io Labs did not invest in Monsoon Finance
Attention
(1) Countries not supported: Afghanistan, Albania, Belarus, Bosnia and Herzegovina, Burundi, Burma, Canada, China, Democratic Republic of Congo, Cuba, Ethiopia, Guinea-Bissau, Guinea, Iran, Iraq, Japan, Liberia, Lebanon, Libya, Macedonia, Malaysia, New Zealand, Serbia, Sri Lanka, Sudan, Somalia, Syria, Thailand, Trinidad and Tobago, Tunisia, Uganda, Ukraine, United States of America, Venezuela, Yemen, Zimbabwe.
For users from other countries, please check and make sure your participation in the token sale on Startup complies with local laws and regulations.
(2) Risk Warning:
- The project team does not guarantee that the token price will not be lower than its startup sale price. Please invest with caution, and don't invest beyond your financial capacity.
- The start-up project is still in its initial stage, factors including the operation and underlying technology of the project, and other related regulatory activities might contribute to significant risks.
- Advanced technical and financial knowledge is required to understand, and uate the inherent risks of crypto-asset investment.
- The market volatility is high, and the price of a token might fluctuate drastically due to technical, regulatory, and marketing factors.
- Users may not be able to withdraw all the purchased tokens due to technical issues of the project or Gate.io.
(3) Requirements for participants
- The participant should register on Gate.io and Log in;
- After logging in, complete user identity verification;
- Deposit a certain amount of cryptocurrencies in your gate.io account;
- Sign the Purchase Agreement on Startup before placing orders.
Gate will open an Automated Market Maker (AMM ) for KFT, and launch an AMM "liquidity-mining" rewards. Users who provide market liquidity by inserting liquidity in will get rewards from the liquidity pool transaction fee and GT token rewards from the liquidity reward pool. High annual rate rewards with security.
AMM Trading Market and AMM Liquidity Mining
Gate.io has launched a new version of the liquidity pool (centralized automated market maker (AMM) transaction service) on August 1st, 2021: allowing most of the new currency and non-mainstream currency markets to obtain the same liquidity advantage as Uniswap, and allows users to enjoy the low-cost and high-quality user experience of the centralized platform. Gate.io will continue to add different currencies, please pay close attention to follow-up announcements.
The rules for markets to upgrade to the Automated Market Maker (AMM) model are as follows:
1) Fixed 0.3% commission fee for both Taker and Maker (temporarily consistent with Uniswap, subject to the needs of both market parties)
2) A fixed percentage (such as 50%) of the transaction fee will automatically be changed into GT through the open market and put into the AMM Reward Pool.
3) Anyone can become a liquidity provider (LP) and get the transaction fee rewards from the liquidity pool and the GT rewards that are invested in the liquidity bonus pool.
4) Liquidity providers provide liquidity to the market, but they need to bear in mind the risk of impermanent losses. For example, if the market price doubles, the impermanence loss is about 7%, and if the market price drops back to the original point, the impermanence loss disappears.
5) Liquidity providers can take bonus and withdraw at any time
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Gate.io Team
September 28th, 2021
