Gate.io Launches Single Listing Vote #13 – PROXI _CREDIT_
Gate.io is a trading platform that does not charge listing fees, only launches quality projects, and provides users with a _iety of blockchain assets trading services. To involve a higher number of users in the process of expanding our list of coins, Gate.io has implemented a new feature called "single listing vote," offering even more opportunities to launch high-quality projects.
In each single listing vote, if the project attains the targeted votes, its tokens will be listed on Gate.io. All voters have a chance to win an airdrop of the project token according to the ratio of the votes they contributed to the number of votes in total.
Currently, we have introduced a new premier single listing vote scheme where voters participating in each vote have to pay a bit USDT for the airdrop benefit. The USDT amount deducted from voters will be used to buy back and burn GT. The voting price required by voters will be presented on the voting page and the money will be deducted within two hours after the vote. Voters should make sure the USDT balance is sufficient on their account, or they might fail to claim their airdrop benefit.
1. Duration: 10:00 AM GMT August 24th, 2020 – 02:00 AM GMT August 25th, 2020
2. Airdrop Amount:
Once PROXI gets 10 million votes, the trading service of CREDIT will be available on Gate.io. Each voter has a chance to share an airdrop of 75,000 CREDIT after paying a certain amount of USDT.
3. Participate in the Single Listing Vote at: https://www.gate.io/poll/votelist/38
4. Deposit CREDIT at: https://www.gate.io/myaccount/deposit/CREDIT（available at 07:00 AM GMT, August 25th）
Introduction to PROXI
1. Project Introduction
PROXI is DeFi 2.0 for Cross Chain Derivative Issuance and Credit Lending. PROXI provides the smartest way to invest derivative assets and earn interests with credit-based high leverage tools through the decentralized secure protocol.
Official website: www.proxidefi.com
Link to Whitepaper: https://proxidefi.com/wp-content/uploads/PROXI-Pitchdeck.pdf
2. Token Information
_1_ Token symbol: CREDIT
_2_ Total supply: 100,000,000
_3_ Current Circ. Supply: 5,000,000
_4_ Token allocation
Liquidity mining mechanism: 50%
Team & advisors: 15%
_5_ Token release schedule
The tokens for Tokensale: will be unlocked_
Tokens for team & advisors: will have a 2-year vesting period_
Tokens for Foundation, Eco and Yield Farming: 4-year vesting period
_6_ Inflation Rules
Single Listing Vote Scheme（with GT buyback and burn included_
1. Participants: all the GT holders on Gate.io 1 GT=1 vote
2. Vote allocation: For every participant, their vote equals the average 14-day GT holding including assets in Lending/Borrowing Market, and the GT bought with USDT borrowed from Margin Trading, however, GT borrowed from Margin Trading is not allowed. The user’s votes will be calculated based on the average 14-day GT holding within two hours after the listing vote. Thus, please don’t make any changes to your GT holding before the counting of the votes.
For example, Bob is a new GT holder, and he buys and holds 14000GT one day before the sale. Therefore, his average 14-day GT holding will be 1000GT 14000GT/14 days, and he will have 1000 votes.
3. Every real-name participant can vote with his GT for the project.
4. When the vote begins, the voting prices of both projects will be presented on the voting page_ once the voter confirms his vote, he has to pay based on the airdrop amount he wins, and the money will be automatically deducted within two hours after the vote. Voters should make sure the USDT balance is sufficient on their account, or they might not be able to claim their airdrop benefit.
5. In this single listing vote, when the project gets 10 million votes, the tokens will be listed.
6. After the single listing vote, all voters will be rewarded with an airdrop of the tokens. Meanwhile, the time for trading, withdrawal, and deposit of the tokens will be announced.
7. Airdrop reward and voting cost:
1_ Airdrop token: The tokens of the project will be airdropped after the vote.
For example, project A is participating in the single listing campaign. User X supports project A and votes for it. After the vote, User X is eligible to win an airdrop of the tokens of the project A, and user X has to pay a bit of USDT for the airdrop benefit.
2_ Airdrop reward: After this listing vote, the tokens of the project will be airdropped. All voters will win the token of the project. The airdrop of the tokens will be ratioed according to how many votes of the voter account for the total votes. The airdrop amount each voter can obtain for the project is calculated as follows:
Votes casted by the voter for the project÷total votes received by the project×airdrop amount of the project
3_ Amount deduction: After each vote, Gate.io will calculate the airdrop amount each voter wins for each project, and automatically conduct a deduction _in USDT_ based on the following formula:
Airdrop amount each voter wins for the project×vote price of the project token
8. The GT buyback and burn would be applied to our Single Listing Vote campaigns from now on. Gate.io is adopting this approach as part of its efforts to facilitate the value of GT_ all USDT made from the deductions will be used to buy back and burn GT.
（1） Cheating: Gate.io will cancel the votes of an account if any cheating is detected or reported by other users and confirmed. The account will no longer be qualified for the listing vote if more than three cheating records have been registered.
Gate.io reserves the final right to interpret this activity.