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Gate.io launches 20% Discount BTC Sale (No.26) on Startup

2020-07-27 17:00:51Read:53316

To thank our users for their continued support, Gate.io will be offering $250,000 worth of BTC for sale with a 20% discount via ‘Startup’ at 4:00 AM GMT on July 30th.

To participate in the ‘Startup’ BTC Special Offer, please head over to: https://www.gate.io/startup/52
Mobile users please go to“Market” –“Startup”.

BTC ‘Startup’ Sale 20% Discount Rules:

1. Time: 4:00 AM GMT, July 30th

2. The amount and the price of the BTC for sale will be calculated at a random time within an hour prior to the sale. The data will be updated accordingly on the ‘Startup’ Platform.

3. Participants can purchase with USDT (borrowed USDT will also be allowed; the interest will be calculated on an hourly basis).

4. All the received USDT ($200,000) received will be used to purchase GT from the open market, and the purchased GT will be burned publicly.

5. Participants need to be VIP1 and above.

6. Purchase limit: The individual purchase limit will be calculated based on the average holdings of GT (including the asset in Lending/Borrowing Market, and the GT bought with USDT borrowed from Margin Trading; however, GT borrowed from Margin Trading is not included) 14 days before the sale. Users with no GT holdings cannot participate in the sale. Participants can have a higher purchase limit with more GT holdings. Below shows the purchase limit based on different amount of GT holdings.

Maximum orders (not equal to actual orders placed) =average 14-day GT balance (take an integer value)/ 200. The purchase limit is 1,500 orders.

E.g. User X is VIP1 (monthly total trading volume ≥ 3BTC, GT holdings ≥ 40 ). He or she has never held GT, but purchases 14,000 GT the day before the Startup Sale. Therefore, user X’s average 14-day GT balance is 14,000 GT/ 14 days= 1,000 GT, so the maximum orders =1,000 / 200= 5, and User X meets the requirement of being a VIP user. User X can place up to 5 orders in the Startup Sale.

7. Users need to ensure there is sufficient balance (exceeding the purchase value) in the accounts for the purchase after placing the orders. An insufficient balance will result in the cancellation of the purchase order.

8. Each KYC account can only purchase once.

9. After 6:00 AM GMT, we will collect the qualified orders and distribute the tokens according to the individual purchased orders: total purchased orders ratio. The final result will be announced via Gate.io Official Announcement.

10. The distribution calculation rules are as follows:

F (distribution ratio) = Daily BTC supply limit ÷ Total BTC orders
P (actual individual purchased BTC) = F × qualified individual orders
M (actual payment amount) = Startup Sale Price × P
E.g. The sale supply limit is 25 BTC. The amount of order placed is 50 BTC. Bob has placed an order to purchase 1 BTC.

Thus:
F (distribution ratio) = 25 ÷ 50 =0.5
P (actual individual purchased BTC) = 0.5 × 1 = 0.5
M (actual payment amount in GT) = 0.5 × Startup Price in USDT

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Gate.io
July 27, 2020
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