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Announcements Gate.io Startup Initial Free Offering: OpenLeverage(OLE) and Announcement of Free Distribution Rules (600,000 OLE free of charge)
Gate.io Startup Initial Free Offering: OpenLeverage(OLE) and Announcement of Free Distribution Rules (600,000 OLE free of charge)
2022-07-06 11:35:49 UTC 63111 Read
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, OpenLeverage(OLE), on July 6th, 2022 at 12:00 PM (UTC).

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

Introduction to OpenLeverage(OLE):
OpenLeverage is a permissionless lending and margin trading protocol with aggregated DEX liquidity, enabling traders to long or short any trading pair on DEXs efficiently and securely. Anyone can create lending pools to support margin trading for specific token pairs with liquidity pools on DEXs.
OpenLeverage is currently deployed on Ethereum, the BNB chain and KCC. Important milestones include crossing $700 million in Total Trading Volume, and $14.5 million in TVL.
OpenLeverage is incubated by Binance Labs and Creative Destruction Lab. We have received security audits from PeckShield, Code4Rena and CertiK.

(The information below is provided by the OpenLeverage team. Please follow the website for more information)

Token Information
Token name: OLE
Token symbol: OLE
Max Supply: 1,000,000,000 OLE
Token Type: ERC-20
Token Contract:
Token Distribution and Unlocking Rules:
*Investor: 28.4%
3-months cliff, linear release for 4 years
*Team: 17%
3-months cliff, linear release for 5 years
*DAO: 45%
Linear release for 5 years
*Ecosystem Development treasury: 9.6%
Release according to situation

Token Information:
ETH: https://etherscan.io/token/0x92cfbec26c206c90aee3b7c66a9ae673754fab7e
BSC: https://bscscan.com/token/0xa865197a84e780957422237b5d152772654341f3

OpenLeverage Startup Sale Rules
(1) Duration: 12:00 PM on July 6th-08:00 AM on July 7th (UTC), 2022(Orders placed by qualified users within these 20 hours will be treated equally.)
(2) To participate in the Startup Sale, VIP 0 users need to hold a minimum of 500 USD worth of assets, and will be offered the contribution share at 1/4 of VIP 1 users’ share; For VIP 1 and above, the higher the VIP level the higher the contribution share will be.
(3) Price: $0; Reference Price: $0.05; Startup Supply: 600,000 OLE
(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:
VIP1 users can subscribe up to 1 * 1 * 10 = 10 shares
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 12:00 PM on July 6th-08:00 AM on July 7th (UTC), 2022. Orders placed by qualified users within these 20 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 08:00 AM on July 7th (UTC), 2022, 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:11:00 AM(UTC) on July 7th, 2022

Gate.io Labs Investment Participating Disclosure
Gate.io Labs invested in OpenLeverage

(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.

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Gate.io Team
July 6th, 2022

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