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Gate.io Startup Free Offering: Lumerin (LMR) and Announcement of Free Distribution Rules( 285,714 LMR free of charge)

2022-03-28 05:18:53 UTCRead:56502
About Gate.io Startup Free Airdrop Program In order to reward platform users, Gate.io launched the "Startup Project Free Airdrop Program", and free airdrops for blockchain excellent projects are launched in the Startup area from time to time. VIP and GT users can get a variety of tokens airdrop benefits.

This Lumerin (LMR) Startup contribution is a free contribution, and will not deduct the users' participation funds at the end of the event.

Startup Link: https://www.gate.io/startup

Introduction to Lumerin (LMR)
Lumerin is a routing protocol that makes it simple and easy to control how, when, and why data and communications are routed via smart contracts. Our first use case of the Lumerin Protocol is turning Bitcoin hashpower into a commodity and creating a global, decentralized hashpower marketplace. This marketplace gives miners better access to larger markets for their hashpower and allows others to invest and buy/sell hashpower at reduced risk. This first use case converts Bitcoin hashrate into a marketable, liquid financial commodity, increasing mining profitability and capital availability.

(The information below is provided by the Lumerin (LMR) team. Please follow
Lumerin (LMR) for more information)

Token Information
Token name: Lumerin
Token symbol: LMR
Max Supply:1,000,000,000
Token Type: ERC-20
Contract: 0x4b1D0b9F081468D780Ca1d5d79132b64301085d1
Token distribution ratio and unlocking rules:
Founders: 25%, 0.35% of total supply unlocked at TGE, 6-month cliff, 24 months vested thereafter
Network Porcelain: 5%, 0.2% of total supply unlocked at TGE, monthly vested in 24 months
Community Dev: 5%, 0.2% of total supply unlocked at TGE, monthly vested in 24 months
Pool Loyalty Rewards: 2.6%, monthly vested in 9 years
Liquidity: 6%, monthly vested in 3 months
Partner/Advisor: 4%, 6-month cliff, monthly vested in 24 months
Mineable: 25%, 6-month cliff, mined in 10 years
Seed Round: 15%, 3-month cliff, monthly vested in 12 months
Private Round: 8%, 3-month cliff, monthly vested in 12 months
Public Round: 4.3%, 2% of total supply unlocked at TGE, 1-month cliff monthly vested in 4 months
Strategic Round: 0.1%, 100% unlocked at TGE

Website: https://lumerin.io/
Whitepaper: https://lumerin.io/wp-content/uploads/2021/12/Lumerin-Whitepaper-1.7.pdf?x94002

Lumerin (LMR) Startup Sale Rules
(1) Duration:10:00 AM March 28th, 2022 - 10:00 AM March 29th, 2022 (UTC) (Orders placed by qualified users within these 24 hours will be treated equally.)
(2) Trading starts time:13:00 PM March 29th, 2022 (UTC)
Trading pairs: LMR/USDT LMR/BTC
(3) Price: 0 USDT(Public Sale Price: $0.35)
(4)Startup Supply: 285,714 LMR
(5) Users purchase using USDT.
(6) Unlock rule: 100% unlock.
(7) To participate in Startup Sale, users will need to be VIP1 and above, can only purchase once with each KYC account.
(8) Purchase limit: The maximum contribution limit for a single user is 1000 shares; the relationship between the VIP level and the maximum contribution allocation is:
the maximum number of contributions (not the final actual contribution 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
(9) 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.
(10) 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. The final result will be announced before trading starts.

Gate.io Labs Private Sale Participating Disclosure
Gate.io Labs has participated in the Lumerin (LMR) investment.

(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 LMR, and launch an AMM "liquidity-mining" rewards. Users who provide market liquidity by inserting liquidity in will get rewards from liquidity pool transaction fees and GT token rewards from 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 automatic 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 bonuses and withdraw at any time

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Gate.io Team
March 26th, 2022

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