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Gate.io launches Discount UMB Sale on Startup

2021-04-08 16:23:59Read:159614

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 Information
Token name: Umbrella Network
Token symbol: UMB
Max Supply: 500,000,000 UMB
Token Type: ERC-20
Contract: 0x6fc13eace26590b80cccab1ba5d51890577d83b2
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
Website:https://www.umb.network/
Document:https://www.umb.network/wp-content/uploads/2021/02/umb_litepaper_design_v3.1.pdf


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 Sale.

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.

Thus:
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

Attention
(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 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 e valuate 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.

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.


Gate.io Team
April 8, 2021

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