Gate.io Startup Initial Offering-DAO SHO Project- DeRace（DERC）
Gate.io Startup will launch another DAO SHO project- DeRace sale on the August 2nd , 2021 at 10:00 AM UTC.
Startup Link: https://www.gate.io/en/startup/147
DeRace is a virtual NFT horse racing universe built on blockchain and powered by DERC.
DeRace is a platform that simulates real-life horse racing and gives players the ultimate horse racing experience by allowing users to: own and trade NFT horses, breed NFT horses, participate in horse races, own a hippodrome and host horse races, and bet on winning horses in real-time races.
Token Supply: 120,000,000
Initial Token Circulation: 17,460,000
Blockchain Network: Ethereum
Private Run: 28%
Public Run: 6%
Seed Round: $0.05
Private Round: $0.05
Lock-up: 20% unlocked at the TGE, then 20% on a quarterly basis
The first and foremost function of DERC is to fuel the whole platform. Even though DeRace crowdfunding activities allow transactions in both DeRace coins and other traditional means of payment, DeRace coins will ultimately serve as the base currency for transactions within the DeRace universe.
All activities on the platform, including bets, races, winnings, and asset trades are uted exclusively in DeRace Coins. Also, all player earnings are paid out only in DERC. This guarantees constant token volume and circulating supply.
DeRace Referral and Reward s use exclusively DERC. Wallet users, influencers, social media accounts, blogs, or news outlets will all receive their referral rewards in DeRace Coins.
Token holder benefits
DERC holders take part in the decision-making governance process with regards to the development of the DeRace platform. Token holders also get premium early access to the platform, exclusive access to the NFT drops at a special price, and will be the first ones invited to try new features.
Important Notice about Gate.io Startup Sale for DeRace :
1.Startup supply: 800,000 DERC; 20% unlocked at the TGE, then 20% on a quarterly basis; Price:$0.05
2.Payment currency: USDG, Lockup currency: DAO
3.Eligible participants: agree to lock up DAO for a period of 15 days. Individual cap is 20K DAO.
4.Token distribution: participants get a proportional amount of DERC tokens to their share of DAO tokens locked up on Gate.io.
5.The DERC tokens will not be released until the Token Generation Event. Users won’t get any DERC token immediately after the Gate.io startup sale.
6.The startup sale is designed for DeRace’s DAO Maker SHO portion.
7.The cryptocurrency market is highly volatile. The project team does not guarantee that token price will not be lower than SHO price. Please invest with caution, and don't invest beyond your financial capacity.
Rules of DeRace ’s DAO SHO Portion Sale on Gate.io’s Startup:
(1) Order Duration: August 2nd 10:00:00 AM -August 3rd 2:00 AM UTC
(2) To participate in Startup Sale, users should agree to lock up DAO for a period of 15 days.
(3) The price is $0.05
(4) Users can place orders by agreeing to locking up DAO for 15 days
(5) Users can place orders from August 2nd 10:00:00 AM – August 3rd 2:00 AM UTC. Orders placed by qualified users within these hours will be treated equally.
(6) Users need to ensure that there is sufficient balance of DAO (the full amount you agree to lockup for 15 days) and USDG (amount to pay for DERC token actually received) in accounts after placing the orders. An insufficient DAO or USDG balance will result in the cancellation of the purchase order.
(7) Each individual can only purchase once with an account passing KYC.
(8) After August 3rd, 2:00 AM UTC, we will collect all the qualified orders and calculate the result and announce the result in 2 hours. USDG to pay for Participant’s DERC token purchase will be deducted from the participant’s account and the amount of DAO the participant agrees to lockup when placing orders will be locked for 15 days. Participants will receive a proportional amount of DERC tokens to their share of DAO tokens locked up on Gate.io according to the token release schedule at the TGE (the token generation event).
If the total DAO locked by all startup sale participants is 20,000 DAO. The total supply of new tokens offered on Gate.io startup sale is 1,000,000 new tokens. Token price is 0. 1 USDG per token. Participants are required to lock DAO for a period of 15 days.
If User A agreed to lock 500 DAO (by placing order) for a period of 15 days. Then,
User A’s share of the new tokens (also his share of DAO locked): 500/20,000=2.5%
Users A will receive new tokens: 2.5%X 1,000,000=25,000 new tokens.
User A’s USDG payment: the actual new token user A will receive X token price: 25,000X0. 1=2500 USDG
After the sale, user A’s 500 DAO will be locked for 15 days.
And USDG for purchase the new tokens will be deducted from User A’s spot account balance.
(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 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.
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July 28, 2021
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