Gate.io Startup Initial Free Offering: DeFi Land (DEFI LAND) and Announcement of Free Distribution Rules (10,000,000 DEFI LAND free of charge)
About Gate.io Startup Free Airdrop Program In order to reward platform users, Gate.io launched the "Startup Project Free Airdrop Program". Free airdrops for excellent blockchain projects are launched in the Startup area from time to time. VIP and GT users can get a variety of tokens via airdrop benefits.
Gate.io Startup will launch its next project, DeFi Land (DEFI LAND), on November 24th, 2021 at 02:00 AM(UTC).
Startup Link: https://www.gate.io/en/startup
Introduction to DeFi Land (DEFI LAND)
DeFi Land gamifies decentralized finance by turning investment activities into games. While there are games that make use of the blockchain, DeFi Land is novel in that it takes DeFi as a whole and aggregates the various actions that can be taken on each DeFi platform and turns them into an interactive game that can be played. This enables all DeFi protocols to be accessed in a single location rather than having to visit each one individually. Furthermore, DeFi Land adds an incentivization layer on top, making participating through DeFi Land better than through each platform's native UI.
(The information below is provided by the DeFi Land team. Please follow website for more information）
Token name: DeFi Land Token
Token symbol: DEFI LAND (the original token symbol is DFL, but to make it clear, it will be trading under the name of DEFI LAND. )
Max Supply: 10,000,000,000 DEFI LAND
Token Type: SPL
Token Contract: DFL1zNkaGPWm1BqAVqRjCZvHmwTFrEaJtbzJWgseoNJh
Token Distribution and Unlocking Rules:
Unlock every 3 months over 2 years
*Team and Advisors: 21.0%
6 months cliff and unlock every 3 months over 2 years
*Game/staking rewards: 41.0%
Unlock gradually over 5 years
Unlock gradually over 4 years
*Community incentives: 2.5%
Unlock gradually over 4 years
*Liquidity and market making: 2.0%
Unlock gradually over 1 year
DeFi Land Startup Sale Rules
(1) Duration: 02:00 AM-02:00 PM(UTC), November 24th, 2021 (Orders placed by qualified users within these 12 hours will be treated equally.)
(2) To participate in the Startup Sale, users will need to be VIP1 and above.
(3) Price: $0; Public Sale Price: $ 0.005; Startup Supply: 10,000,000 DEFI LAND
(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: Unlock
(6) Users place orders using USDT.
(7) Users can place orders from 02:00 AM-02:00 PM(UTC), November 24th, 2021. Orders placed by qualified users within these 12 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 be purchased once with each KYC account.
(10) After 02:00 PM(UTC), November 24th, 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: 04:00 PM(UTC), November 24th, 2021
Gate.io Labs Investment Participating Disclosure
Gate.io Labs invested in DeFi Land
(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 evaluate 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 DEFI LAND, 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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November 23rd, 2021
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