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Announcements Gate.io Startup Initial Offering: SonarWatch (SONAR)

Gate.io Startup Initial Offering: SonarWatch (SONAR)

2021-11-16 10:23:16 UTC 131201 Read

Gate.io has launched Startup, a platform that aims to provide users with access to innovative and advanced projects. Traders now have more opportunities to make an initial investment.

Gate.io Startup will launch its next project with SonarWatch (SONAR) on Nov 19th, 2021 at 10:00 AM(UTC).

Startup Link: https://www.gate.io/en/startup

Introduction to SonarWatch (SONAR)

SonarWatch is a tracking tool on Solana Blockchain on which you can track all your assets in one place.

Sonar is the most accurate tracking tool on Solana with 15+ protocols and 500+ pools and farms tracked. Display your NFT collection, look up for the top gainers of the ecosystem, manage all your addresses at once.

(The information below is provided by the SonarWatch (SONAR) team. Please follow website for more information

Token Information

Token name: SonarWatch

Token symbol: SONAR

Max Supply: 100,000,000 SONAR

Token Type: SPL

Token Contract: sonarX4VtVkQemriJeLm6CKeW3GDMyiBnnAEMw1MRAE

Token Distribution and Unlocking Rules:

*Mining reserves: 40%

Diluted in multiple farms over several years (50% of remaining reserves diluted each year)

*Team: 20%

1 year cliff, then linearly vesting for 12 months.

*Investors: 20%

10% at TGE, 6 months cliff, then linearly vested for 12 months

*IDO/IEO: 5%


*Treasury: 10%

Used for MM

*Marketing: 3%

Release according to marketing

*Airdrop: 2%


Website: https://sonar.watch

White Paper: https://sonar.watch/docs/Sonar_Litepaper.pdf

Token Information: https://explorer.solana.com/address/sonarX4VtVkQemriJeLm6CKeW3GDMyiBnnAEMw1MRAE

SonarWatch (SONAR) Startup Sale Rules

(1) Duration: 10:00AM, Nov 19th - 10:00AM, Nov 20th (UTC), 2021 (Orders placed by qualified users within these 24 hours will be treated equally.)

(2) To participate in Startup Sale, users will need to be VIP1 and above.

(3) Price: $0.20/SONAR Startup Supply: 1,000,000 SONAR

(4) Purchase limit: The maximum subscription limit for a single user is 1000 shares; the relationship between the VIP level and the maximum subscription allocation is:

the maximum number of subscriptions (not the final actual subscription number) = the square of the VIP level multiplied by 10. For example:

VIP2 users can subscribe up to 2 * 2 * 10 = 40 shares

VIP3 users can subscribe up to 3 * 3 * 10 = 90 shares

(5) Unlocking Rule: Unlocked

(6) Users place orders using USDT.

(7) Users can place orders from 10:00AM, Nov 19th - 10:00AM, Nov 20th (UTC), 2021. Orders placed by qualified users within these 24 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 purchase once with each KYC account.

(10) After 10:00AM on Nov 20th (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:10:00 AM on Nov 22nd (UTC)

Gate.io Labs Investment Participating Disclosure

Gate.io Labs invested in SonarWatch.


(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 e valuate 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 SONAR, 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

Nov 16th, 2021

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