Gate.io launches 20% Discount ETH Sale on Startup
About Startup Special Offers (with upgraded rules)
To thank our users for their continuous support, Gate.io will be offering $400,000 worth of ETH for sale with a 20% discount on Startup at UTC 4:00 on September 23rd.
To participate in the Startup Sale, please go to: https://www.gatecn.io/startup/26
Mobile users please go to “Market” – “Startup”.
To bring more benefits to our users, Gate.io has upgraded Startup Special Offer and we will launch sales for top currencies (i.e. BTC, ETH, EOS) with discounts. VIP users and GT holders can participate in the sales with USDT. All the USDT received from the Special Offer token sale will be used to purchase GT from the open market, and the purchased GT will be burned publicly. For more details of the Gate.io Startup Special Offer Upgrade, check out https://www.gate.io/article/16985
ETH Startup Sale 20% Discount Rules
1. Time: UTC 4:00 – 6:00, September 23. All the orders placed within these two hours will be treated equally.
2. The amount and the price of the ETH for sale will be calculated at a random time within the 1 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 ($320,000) received will be used to purchase GT from the open market, and the purchased GT will be burned publicly.
5. Participants should 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 limit will increase in correlation to their GT holdings. Below is the chart that shows the purchase limit based on different amount of GT holdings:
E.g. Bob is a VIP4 and he has a minimum GT holdings of 2,000 GT. Thus, Bob has met the requirements of holding GT (Tier 1) and being a VIP user. He can place 1 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 UTC 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 at UTC 8:00 that day.
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.
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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Sep. 19, 2019