Gate.io officially launches an upgraded section - Startup Prime, being committed to selecting excellent, newly-developed blockchain projects, integrating resources of Gate.io eco to incubate new projects with great potential, providing all-round support from funding to operation to strategic development, and offering opportunities to be released and showcased on Gate.io StartupPrime, with a view to achieving goals of resource development, selecting the best, and mutual benefit for users through cooperation. Moreover, Startup Prime will bring earlier value opportunities and more competitive subion advantages for our users. You are warmly welcome to experience this on Gate.io.
Gate.io Startup will launch its next project with PsyOptions (PSY) on January 18th, 2022 at 04:00 AM(UTC).
StartupLink: https://www.gate.io/startup
Introduction to PsyOptions
PsyOptions’ first product is an American style options protocol built on the Solana blockchain. The principles that have guided the architecture and development of the core protocol are flexibility and composability. It is completely trustless. The core protocol makes no assumptions on how the options should be traded or priced. Options are represented as SPL Tokens, which means they can be traded on any DEX that supports SPL Tokens.
(The information below is provided by the PsyOptions team. Please follow website for more information）
Token Information
Token name: PSY
Token symbol: PSY
Max Supply: 1,000,000,000 PSY
Token Type: SPL
Token Contract: R2y9ip6mxmWUj4pt54jP2hz2dgvMozy9VTSwMWE7evs
Token Distribution:
*Contributors/ Advisors / Team: 15%
1 year cliff, 4 year vest
*Private round 1: 5%
10% TGE, 1 year cliff, 4 year vesting
*Private round 2: 7%
10% TGE, 1 year cliff, 4 year vesting
*IEO: 3%
100% TGE
*DAO Treasury: 60%
Unlocked through future governance proposals to further grow the Psy Eco
External Contributor Fund: 8%
At this time they have yet to be allocated, and are not a part of the circulating supply
PSY Liquidity Provisions: 2%
Reserve for MM on exchanges
Website: https://www.psyoptions.io/
White Paper: https://docs.psyoptions.io/
Token Information: https://solscan.io/account/R2y9ip6mxmWUj4pt54jP2hz2dgvMozy9VTSwMWE7evs
PsyOptions (PSY) Startup Sale Rules
(1) Duration: 04:00 AM on January 18th - 04:00 AM on January 19th (UTC), 2022 (Orders placed by qualified users within these 24 hours will be treated equally.)
(2) To participate in Startup Sale, users will need to be VIP1 and above.
(3) Price: 0.12USDT/PSY; Startup Supply : 10,000,000 PSY
(4) Purchase limit: The maximum subion limit for a single user is 1000 shares; the relationship between the VIP level and the maximum subion allocation is:
the maximum number of subions (not the final actual subion 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
(5) Users place orders using USDT.
(6) Users can place orders from 04:00 AM on January 18th - 04:00 AM on January 19th (UTC), 2022. Orders placed by qualified users within these 24 hours will be treated equally.
(7) 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.
(8) Each type of currency can only purchase once with each KYC account.
(9) After 04:00 AM on January 19th (UTC), 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.
(10) Trading starts time: TBD
Gate.io Labs Investment Participating Disclosure
Gate.io Labs didn't invest in PsyOptions
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.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 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 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.
Gate will open an Automated Market Maker (AMM ) for PSY, 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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Gate.io Team
January 4th, 2021
