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Gate.io Startup ETH Sale with 20% Discount Starts Today

2019-12-24 10:36:39Read:34790

The Gate.io Startup ETH Special Offer starts at UTC 4:00, today (December 24th). Gate.io will be offering $250,000 worth of ETH for sale with a 20% discount.

To participate in the Startup Sale, please go to: https://www.gate.io/startup/43
Mobile users please go to “Market” – “Startup”.

ETH Startup Sale 20% Discount Rules:

1. Time: UTC 4:00 – 6:00, December 24th. All the orders placed within these two hours will be treated equally.

2. The amount and the price of the ETH for sale will be calculated at a random time within the 1 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 should be VIP4 and above.

6. Purchase Limit: The individual purchase limit will be calculated based on the minimum holdings of GT (including asset in Lending/Borrowing Market, and the GT bought with USDT borrowed from Margin Trading; however, GT borrowed from Margin Trading is not allowed) 14 days prior to the sale. Users with no GT holdings cannot participate in the sale. Participants’ purchase limit will increase in correlation to their GT holdings. Below is the chart that shows the purchase limit based on different amount of GT holdings:



E.g. Bob is a VIP4 and he has a minimum GT holdings of 2,000 GT. Thus, Bob has met the requirements of holding GT (Tier 1) and being a VIP user. He can place 1 order in the Startup Special Offer token 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 UTC 6:00, 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 ETH supply limit ÷ Total ETH supply limit
P (actual individual purchased ETH) = F × qualified individual orders
M (actual payment amount) = Startup Sale Price × P
E.g. The sale supply limit is 25 ETH. The amount of order placed is 50 ETH. Bob has placed an order to purchase 1 ETH.

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

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Gate.io
December 24, 2019