Gate.io launches Discount UMB Sale on Startup
Gate.io Startup Special Offers
The Gate.io Startup Special Offers with high quality cryptocurrencies is
now available. We will launch sales of some of high quality traded
currencies with discounts on a monthly basis. Participate the latest
Startup Sales at (for Web only): https://www.gateio.ch/startup
Introduction to Umbrella Network
Umbrella Network is a community owned, decentralized oracle service
providing secure, low cost and massively scalable data solutions to
blockchain and decentralized finance (DeFi) applications. Umbrella
provides access to data previously unavailable to blockchain developers
across multiple segments including mid and long tail crypto assets as
well as real world financial data.
(The information below is provided by the Umbrella Network team. Please follow Umbrella Network for more information）
Token name: Umbrella Network
Token symbol: UMB
Max Supply: 500,000,000 UMB
Token Type: ERC-20
Token distribution ratio and unlocking rules:
304,000,000 tokens locked in foundation controlled wallets. Unlocked linearly over 4 years
Token Information: https://medium.com/umbrella-network/an-update-on-umbrella-networks-umb-tokenomics-b81030bd699e
Gate.io Startup Discount UMB Sale
To thank our users’continuous support, Gate.io and Umbrella Network
will be offering $50k worth of UMB for sale with a discount on Startup.
The Startup price is calculated based on the average closing price of 3
days before the announcement (1.2 USDT/UMB) and doing a half-price sale.
Umbrella Network will be offering 41,666 UMB (worth of $50,000 USD).
The trading service of /USDT,/ETH will be enabled after the Startup
The purchase rules for Startup UMB Sale with Discount are as follows:
(1) Time: UTC1:00 – 23:00, April 10th
All the orders placed within these 22 hours are treated equally.
(2) Participants can purchase with USDT.
(3) Participants should be VIP1 and above.
(4) Purchase limit: The maximum sub-scrip-tion limit for a single user
is 1000 shares; the relationship between the VIP level and the maximum
sub-scrip-tion allocation is:
the maximum number of sub-scrip-tions
(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) 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.
(6) Each type of currency can only purchase once with each KYC account.
(7) 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 two hours later
01:00 11th April, 2021(UTC)
The distribution calculation rules are as follow:
F (distribution ratio) = Daily UMB supply limit ÷ Total UMB supply limit
P (actual individual purchased UMB) = F × qualified individual orders
M (actual payment amount) = Startup Sale Price × P
E.g. UMB daily supply limit is 100 million. The ordered UMB is 200
million. User X has placed an order to purchase 100 thousand UMB.
F (distribution ratio) = 100,000,000 ÷ 200,000,000 =0.5
P (actual individual purchased UMB) = 0.5 × 100,000 = 50,000
M (actual payment amount in usdt) = 50,000 × Startup Price in usdt
(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
(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
- 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
- Advanced technical and financial knowledge is
required to understand, and e valuate the inherent risks of crypto-asset
- The market volatility is high, and the price of a
token might fluctuate drastically due to technical, regulatory, and
- 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.io is an established exchange that holds integrity, transparency,
and fairness to a very high standard. We charge zero listing fees and
only choose quality and promising projects. Our exchange consists only
of 100% real trading volume. Thanks to everyone who has joined us in our
journey. We always intend to improve and innovate to reward our users
for their continuous support.
April 8, 2021
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