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    Gate.io Startup DREP Token Sale Result and DREP Trading Service Announcement

    Creation Time:2019-04-25 07:12:55 UTCRead:395732

    The Gateio Startup DREP Token Sale started at UTC 4:00 and ended at UTC 6:00 on April 25th 2019. All orders placed during this period were treated equally. With a total of 32,000 participants, a total of $67.42 million USD worth of orders were placed (0.6 USDT/GT). The distribution ratio of orders placed using GT is 4.55%.

    Gate.io will distribute DREP based on the data we collected, please go to "My Startup" for the balance detail.

    Gate.io will enable the trading and deposit/withdrawal service of DREP at UTC 4:00, April 26th 2019.

    Please note that the DREP Startup is a high profile project. The liquidity is low in its initial trading stage, the market price will be volatile and might see pullbacks from its high opening price. Please be aware of the market risks and place your investment cautiously.

    Many users have requested for the Margin Trading and Lending/Borrowing markets after the project is listed. However, at the initial stage of trading, the amount of tokens available for borrowing are limited. This could result in an imbalance between the long and the short, and the market price could be driven up. Therefore, the launch of Margin Trading and Lending/Borrowing Markets of DREP will be postponed until the market price becomes less volatile.

    Trade DREP at:

    The deposit service of DREP is now available. Deposit DREP at:

    The Gate.io Startup DREP Token Sale Result is as follows:

    DREP Startup Sale Amount: 1 billion
    Total value of orders (in USDT): 69,392,691 (0.6 USDT/GT)
    Total value of qualified orders (in USDT): 67,242,582 (0.6 USDT/GT)
    Number of orders: 32,923
    Number of Qualified orders: 31,832
    Percentage of qualified orders: 96.6862 %
    Percentage of succeeded purchases: 96.9015 %
    Number of participants: 32,923
    Number of qualified participants: 31,832

    Average qualified order value (in GT): 3,520
    Average qualified order value per user (in GT): 3,520
    Average distribution value per user (in GT): 160
    Average distributed DREP per user: 31,414

    F (distribution ratio with GT) = 0.045506878364665

    Per the previous announcement, all qualified orders will obtain the token on sale equally. To guarantee transparency and fairness, all original records are stored for possible third-party auditing.

    According to the data above, due to the large number of participants (about 32,000) and the high volume of total value of orders ($110 million GT), the distribution ratio (4.55%) was relatively small.

    Gate.io Startup will continue to provide more innovative projects, and users will have more opportunities to make initial investments. Stay tuned and keep up with Gate.io Startup by following our announcements and check out the Startup webpage.

    Attention: Most unqualified orders occurred due to insufficient balance in the user account. Please ensure there is sufficient balance (exceeding the purchasing value) for the order by UTC 8:00 A.M. The insufficient balance will result in the cancellation of the purchase order.

    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 initial investment. Trading service will be enabled once the startup project fulfills its fund raising goal. Gate.io Startup will launch its second project with DREP).

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

    1.Introduction to DREP

    DREP is committed to building “connectors” and “toolkits" based on blockchain technology, providing solutions that combine ease of use, flexibility and frictionless integration. Based on DREP Chain, DREP ID and DREP SDK, DApp teams are able to release multi-public-chain asset versions, built-in wallets and asset trading platforms with one-click. DREP proposes the concept of Smart Pipeline technology, which greatly improves data processing ability, similar to a layer2 solution with strong scalability and zero gas consumption. DREP upgrades advanced technology solutions into APIs and Plug-ins, thus lowering blockchain learning costs, development difficulty and complexity on the application/enterprise side. So far, DREP has been docking with a number of internet platforms with millions of active users in Australia, the Middle East and Southeast Asia.

    Click here to check out more: https://www.gate.io/startup/3

    1.DREP Project Overview (for more detailed information, please visit DREP official website)
    (1) Token Symbol: DREP
    (2) Total Supply: 10 billion
    (3) Initial Circ. Supply: 17.86%
    (4) Amount Raised in Public Sale: 5,1000,000 GT
    (5) Startup Total Supply: 10 billion in GT
    (6) Price: 1 DREP =0.0051 GT
    Please note: Since GT is in its initial trading stage, the market price could alter. Thus, the temporary price "P1" is set to be 1GT=0.60 USDT. One month after the project launch, the price "P2" will be adjusted according to the GT daily opening price on Gate.io from April 25 to May 25 (GMT +8:00). If P2 is over 10% higher than P1, which is more than $0.66 USD, Gate.io will refund the exceeding amount (P2-P1*110%) in GT based on P2 to users who invested with GTs.
    (7)Token Lock-up and Release:
    •Private Sale(Lock-up: 8 Months)
    Vesting Schedule: To release 10%/15%/15%/30%/30%, for every 2 months
    •Private Presale (Lock-up: 6 Months)
    Vesting Schedule: To release 10%/15%/35%/40%, for every 2 months
    •Public Presale (Lock-up: 6 Months)
    Vesting Schedule: To release 10%/15%/45%/30%, for every 2 months
    •Crowdsale (No Lock-up)

    2.DREP Startup Sale Rules
    (1) Start Time: April 25, UTC 4:00 - 6:00
    (2) Purchase limit: no less than 50,000 DREP and no more than 1,000,000 DREP per individual.
    (3) Users can place orders from UTC 4:00 to UTC 6:00. Order placed by qualified users within these 2 hours will be treated equally.
    (4) Users need to ensure there is sufficient balance (exceeding the purchase value) in accounts for the purchase after placing the orders. An insufficient balance will result in the cancellation of the purchase order.
    (5) Users can place orders using GT.
    (6) Each type of currency can only purchase once with each KYC account.
    (7) After UTC 6:00, we will collect all the qualified orders and distribute the tokens according to the individual purchased orders: total purchased orders ratio. The final result will be announced at UTC 8:00 each day.
    The distribution calculation rules are as follow:

    F (reward ratio) = Daily DREP supply limit ÷ Total DREP supply limit
    P (actual individual purchased DREP) = F × qualified individual orders
    M (actual payment amount) = Startup Sale Price × P

    E.g. DREP daily supply limit is 100 million. The ordered DREP is 200 million. User X has placed an order to purchase 100 thousand DREP.

    F (reward ratio) = 100,000,000 ÷ 200,000,000 =0.5
    P (actual individual purchased DREP) = 0.5 × 100,000 = 50,000
    M (actual payment amount in GT) = 50,000 × 0.051 GT = 255 GT

    If the project cannot fulfill its fund-raising goal within the given time, users will get refunded and the project will be delisted.

    3. 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, North Korea.
    For users from other countries, please check and make sure your participation in token sale on Startup complies with local laws and regulations.

    (2) Risk Warning:
    - 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 significant risks.
    - Advanced technical and financial knowledge is required to understand and uate the inherent risks of crypto-asset investment.
    - The volatility of market is high, and the price of token might fluctuate drastically due to technical, regulatory and marketing factors etc.
    - 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
    - Participant should register on Gate.io and Log in;
    - After logging in, complete user identity verification;
    - Deposit a certain amount of cryptocurrencies in gate.io account;
    - Sign the Purchase Agreement on Startup before placing orders.

    Gate.io is a trading platform that does not charge listing fee, only launches quality projects, and provides users with a 100% guarantee and instant deposit-withdrawal services.
    Get 30% trading fee in the affiliate program at https://www.gate.io/myaccount/myreferrals

    Gate.io New Features:
    Spot Trading on Gate.io (200+ tokens):https://www.gate.io/trade/BTC_USDT
    Margin Trading on Gate.io (Long or Short):https://www.gate.io/margin_trade/BTC_USDT
    Perpetual Contract Trading:https://www.gate.io/futures_trade/BTC_USD
    Lending on Gate.io (secure and stable, high annual return):https://www.gate.io/margin/lend/USDT
    C2C Trading on Gate.io:https://www.gate.io/c2c/usdt_cny
    Download Gate.io APP:https://www.gate.io/mobileapp
    Download Wallet.io (ALL in ONE):https://www.wallet.io/

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    April 25, 201
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