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Gate.io Adjusts Its POINTS and GT Buy-Back Scheme

2020-07-19 21:40:14Read:64555

Gate.io has always been committed to transparency and security, seeking to provide its users with innovative products and a user-friendly experience. Recently, we have been looking for professional institutions for a potential collaboration in an effort to enhance the liquidity of our platform; offering a more satisfying trading experience for professional traders.

Ever since the introduction of our POINTs scheme in 2019, Gate.io has been maintaining its competitive handling fee, emerging as a platform that offers the lowest fee rate among all mainstream exchanges. As per the current POINTS scheme, users are not allowed to trade spots and futures with their POINTS until September 2020. This calls for a new mechanism as we seek to reduce users’ transaction cost on an ongoing basis.

After collecting a lot of opinions and suggestions from our users, we are now introducing a Timed POINTs and GT Buy-Back scheme.

As common investors are able to obtain a VIP fee discount with GT payment to reduce their handling fees, professional investors can buy Timed POINTS in advance to lower their trading fees.

1) Previous POINTs can be stacked with a VIP discount for spots and futures before September. After September, previously accumulated POINTS can only be used for ‘Hold & Earn.’ The transfer of POINTs is allowed.

2) Previous POINTs can be converted into Timed POINTs (with an expiration period of two years) with a 1:1 ratio, before September 2020. After the conversion, when using the Timed POINTS for spots and futures fees, VIP discount cannot be stacked, and the transfer of POINTs is not allowed.

3) After September 2020, if users want to use their remaining Previous POINTS for spots and futures, they can only convert the remaining POINTS by buying Timed POINTS (with an expiration period of two years).

4) Previous POINTs only support one-way swap to Timed POINTs; contrarily, Timed POINTs cannot swap to Previous POINTs.

5) Professional traders and institutional users are able to purchase bulk of Timed POINTS to lock the trading costs. Timed POINTS are only available within 3 years since purchased and not allowed to be transferred to others. Users are not able to enjoy a VIP discount at the same time while using Timed POINTS as handling fees payment in the Spot trading and the Contracts trading.

6) We highly encourage users to use GT as handling fees payment in order to dramatically lower the trading costs under a non-bulk-buying condition. Users are able to enjoy a VIP discount while using GT as handling fees payment.

7) From September 2020, Gate.io will include GT’s liquidity into a professional market-maker assessment standard, facilitating institutions to promote GT’s liquidity.

8) From September 2020, all the POINTS used as handling fees payment (including all the Timed POINTs, Previous POINTS, and Timed POINTs swapped from Previous POINTs) paid from the users will be converted to the platform income calculated in accordance with a fair market price and the average cost price of new POINTS (currently calculated as a 70%-off discount). They will be used for a GT buy-back and burn.

Gate.io has long explored various ways to maintain stable development and benefit the GT users. In the first half of 2020, we revisited our strategies in accordance with the market sentiment to reduce users’ risks of participating in the market. We also facilitated considerable profits to users through airdrops of the vote listing and Startup. Now again we are looking for an active way to collaborate with numerous teams around the world and launch high-quality projects through ‘Listing votes’ and ‘Startup.’

Any suggestions and recommendations of excellent projects are welcome. We appreciate any contributions to the platform!



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Gate.io
July 19, 2020

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