Gate.io Startup Free Offering: Sommelier (SOMM) and Announcement of Free Distribution Rules( 304,348 SOMM free of charge)

Announcements Gate.io Startup Free Offering: Sommelier (SOMM) and Announcement of Free Distribution Rules( 304,348 SOMM free of charge)

2023-03-14 06:16:01 UTC 15821 Read

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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 and airdrop benefits.
 
This Sommelier (SOMM) Startup subscription is a free subscription, and will not deduct the users' participation funds at the end of the event.
 
Startup Link: https://www.gate.io/startup
 
**Introduction to Sommelier (SOMM)**
Sommelier is a decentralized asset management protocol that enables dynamic, automated DeFi vaults. Vaults can do portfolio management, trade long or short, borrow and lend, or even farm. By harnessing the power of off-chain computation, Sommelier vaults can adapt to changing market conditions, which allows them to be more effective than the static vaults typically seen in DeFi. All vaults on the Sommelier platform are enabled by audited smart contracts and controlled by protocol governance.
 
(The information below is provided by the Sommelier (SOMM) team. Please follow Sommelier (SOMM) for more information）
 
**Token Information**
Token Name: Sommelier
Token Symbol: SOMM
Max Supply: 500,000,000
Token Type: ERC20
Contract:
Ethereum: https://etherscan.io/token/0xa670d7237398238de01267472c6f13e5b8010fd1

Token distribution ratio and unlocking rules:
Investors: 31.5%, 24 months vesting
Development Team: 10%, 48 months vesting
Community Pool: 30%, vesting must be approved through community governance
Foundation: 28.5%

Website: https://www.sommelier.finance/ 
Whitepaper: https://tricky-sand-5e6.notion.site/Sommelier-Documentation-006e748753e34a1299f9b1d6ae3a4544

**Sommelier (SOMM) Startup Sale Rules**
(1) Duration: 11:00 AM March 16th, 2023 - 11:00 AM March 17th, 2023 (UTC) (Orders placed by qualified users within these 24 hours will be treated equally.)
(2) Trading Starts Time: 14:00 PM March 17th, 2023 (UTC)
Trading Pairs: SOMM/USDT
(3) Price: 0 USDT
(4)Startup Supply: 304,348  SOMM
(5) Unlock rule: 100% unlock.
(6) To participate in Startup Sale, VIP 0 users need to hold no less than 500 USD worth of Spot Assets in balance, and the number of shares will be 1/4 of VIP 1 users’ share;
The higher the VIP tier, the more shares.
For VIP 1 and above, the higher the VIP level the higher the contribution share will be.
Each user can only purchase once with KYC account
(7) Purchase limit: The maximum contribution limit for a single user is 1500 shares; the relationship between the VIP level and the maximum contribution allocation, please refer to the link: https://www.gate.io/article/29892
(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) 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.
(10) That multiple accounts with the same KYC information when claiming Startup shares will be deemed as cheating behavior, and any cheating behavior is prohibited. In case of cheating, Gate.io reserves the right to disqualify the users involved and forfeit their rewards.
 
**Gate.io Labs Private Sale Participating Disclosure**
Gate.io Labs hasn't participated in the Sommelier (SOMM) investment.
 
**Attention**
(1) Countries not supported: the United States, Canada, Malaysia, Singapore, Mainland China, Malta, Cuba, Iran, North Korea, Crimea, Sudan, Syria, Bangladesh, and Bolivia.
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
March 14, 2023

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