Gate.io Startup Lambda Token Sale Result and LAMB Trading Service Announcement
Gate.io Startup Discount Offer
This June 3rd, Gate.io launched Startup Discount Offer, a platform that aims to presents projects with potentials that are already listed on other exchanges.
To thank our users and to provide a fast track for project listing, we will offer Startup token sales with a discount on the platform. Through Gate.io Startup Discount Offers, selected projects will provide detailed information to users so that they can have more opportunities for investments.
Trading services will be enabled once the project fulfills its fundraising goal. Please note that to participate in the Startup Sale, users will need to be a VIP. Participants with GT holdings have a higher purchasing limit. Please refer to the detailed rule as follows before purchasing.
Participate Gate.io Startup Discount Offer here: https://www.gateio.co/startup
Lambda(LAMB) Token Sale Result
The Gate.io Startup Discount Offer Lambda(LAMB) token sale result is as follows:
LAMB Startup Sale Amount: 7,929,711 LAMB
Total value of orders (in USDT): 16,408,499
Total value of qualified orders (in USDT): 16,302,249
Number of orders: 2,857
Number of Qualified orders: 2,832
Percentage of qualified orders: 99.124956 %
Percentage of succeeded purchases: 99.352469 %
Number of participants: 2,857
Number of qualified participants: 2,832
Average qualified order value per user (in USDT): 5,756
Average distribution value per user (in GT): 117
Average distributed LAMB per user: 2,800.039
F (distribution ratio with GT) = 0.0153353064761
Due to the smaller amount of token for sale and the high volume of total value of orders, the distribution ratio is relatively small. We will continue to provide more Startup token sales with discounts. In the meantime, we will change the participation requirements to increase the distribution ratio.
Per the previous announcement, all qualified orders will obtain the token on sale equally. To guarantee transparency and fairness, all original records are stored for possible third-party auditing.
Attention: Most unqualified orders occurred due to insufficient balance in the user account. Please ensure there is sufficient balance (exceeding the purchasing value) for the order by UTC 8:00 A.M. The insufficient balance will result in the cancellation of the purchase order.
LAMB Trading Service
The LAMB trading service will be enabled at UTC 4:00, Tuesday, June 4th on Gate.io. The withdrawal service will be available afterwards.
Deposit LAMB at:
Trade LAMB at:
To decrease volatility during the initial trading stage, we will apply the Call Auction Mechanism. The rules are as follows:
1) During the call auction, traders can place orders freely, but the orders will not be active immediately. The real-time reference trading price will be presented and calculated based on the Call-order price from the largest amount of trades created. During this period, the order book and the candlestick chart will also show the information about the related price range and the market movement based on the real-time reference (please note that the presented price is not the real trading price).
2) During UTC 4:00 - 4:15 (15 minutes in total), which is the first stage of call auction, traders are allowed to place orders and cancel orders freely.
3) During UTC 4:15 - 4:30 (15 minutes in total), which is the second stage of call auction, orders can be placed freely by the traders, but orders cancellation are prohibited.
4) When the call auction is finished, users will not be able to place or cancel any orders. From UTC 4:30-4:35 (5 minutes in total), the sys. will collect all the data and match the orders. Buy orders with prices higher than the reference price and sell orders with prices lower than the reference price will be matched and uted (a portion of the orders with a higher routed price may not be matched). The remaining orders will go to the order book of the next trading stage automatically.
5) After the call auction data collection, we will enable trading activities.
6) The call auction is for Web only. Mobile users can initiate regular tradings after the call auction at UTC 4:35.
About Lambda Startup Discount Offer
1.Introduction to Lambda
With the mission of promoting the decentralized development of the Internet, Lambda aims to build the storage infrastructure for Internet 3.0.
Lambda is a safe, reliable and infinitely extendable decentralized storage network, whilst using data integrity and security verification as well as the operation of market-oriented storage transactions on the Lambda Chain consensus network, and provides the infinitely extensible data storage capacity for the new generation of value Internet.
Click here to check out more: https://www.gateio.co/startup/10
1.Lambda Project Overview (for more detailed information, please visit Lambda official website)
(1) Token Symbol: LAMB
(2) Total Supply: 10 billion
(3) Initial Circulation Supply: 10%
(4) Token Price (Private Sale): 1 LAMB = 0.006 USD
(5) Token Price (Public Sale): 1 LAMB = 0.01 USD
(6) Startup Goal: 250,000 USDT
(7) Startup Total Supply: 7,929,711 LAMB
(8) Price: To be confirmed
Please note that Startup price is calculated based on the average of the closing price on 26th, 27th, 28th of May (0.063054USDT/LAMB). The sale will be offering discounts. Because the market price of GT is variable, the price of GT in relation to the Startup projects will be calculated 3 hours prior to the sale. The calculation rule is as following: A specific time stamp within 3 hours before the start of sale will be randomly chosen. Then, a 72 hours average value of GT-USDT on Gate.io before the chosen time stamp will be calculated and referenced as the Startup Price.
(8)Token Lock-up and Release：
Lock-up period: none
Produced after the main network goes online
-Private-sale round (5%):
2 months (20%); 6 months (40%); 10 months (40%)
-Public sale round (25%):
Lock-up period: none
24 months, monthly linear unlock
36 months, monthly linear unlock
To ensure fair and reasonable pricing and to protect users' interests when the Startup projects are listed on the exchange, projects are required to lock-up a certain amount of GT as a cautionary deposit. If the market price of the token (the average price is calculated every hour in a random 48-hour period in USDT) becomes lower than the Startup price (in USDT) for a certain period, the GT deposit locked-up will be burned accordingly. To avoid market manipulation, we will not announce the amount of GT locked-up and the period. However, the above requirements will be stated in the agreement with Startup projects and will accept possible third-party auditing.
2.Lambda (LAMB) Startup Sale Rules
(1) Start Time: June 3, UTC 4:00 - 6:00
(2) To participate in Startup Sale, users will need to be VIP2 and above.
(3) The price and the number of orders of Startup Sale will be set 3 hours prior to the sale, based on the market price of GT/USDT within the 3-hour period. Each order is worth $100 - $200 USD, users can place one or a few orders according to the individual purchase limit.
(4) 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 prior to the sale. Users with no GT holdings cannot participate in the sale. Participants can have a higher purchase limit with more GT holdings. Below is chart that shows the purchase limit based on different amount of GT holdings.
E.g. User X is VIP2 (monthly total trading volume ≥ 6BTC). 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 14000 GT/ 14 days= 1000 GT. Thus, user X has met the requirements of holding GT (tier 4) and being a VIP user. User X can place up to 20 orders in the Startup Sale.
(5) Users can place orders using GT.
(6) Users can place orders from UTC 4:00 to UTC 6:00. Order placed by qualified users within these 2 hours will be treated equally.
(7) Users need to ensure there is sufficient balance (exceeding the purchase value) in accounts for the purchase after placing the orders. An insufficient balance will result in the cancellation of the purchase order.
(8) Users will be able to use each type of currency once only.
(9) After UTC 6:00, we will collect all the qualified orders and distribute the tokens according to the individual purchased orders: total purchased orders ratio. The final result will be announced at UTC 8:00 that day.
The distribution calculation rules are as follow:
F (distribution ratio) = Daily LAMB supply limit ÷ Total LAMB supply limit
P (actual individual purchased LAMB) = F × qualified individual orders
M (actual payment amount) = Startup Sale Price × P
E.g. LAMB daily supply limit is 100 million. The ordered LAMB is 200 million. User X has placed an order to purchase 100,000 LAMB.
F (distribution ratio) = 100,000,000 ÷ 200,000,000 =0.5
P (actual individual purchased LAMB) = 0.5 × 100,000 = 50,000
M (actual payment amount in GT) = 50,000 × Startup Price in GT
If the project cannot fulfill its fund-raising goal within the given time, users will get refunded and the project will be delisted.
3. The New Gate.io Startup Project Exchange Listing Rules
Once the Startup project fulfills its fundraising goal, Gate.io will enable the trading service of the project. To decrease volatility during the initial trading stage, we will apply the Call Auction Mechanism. The rules are as follows:
1) During the call auction, traders can place order freely, but the orders will not be active immediately. The real-time reference trading price will be presented and calculated based on the Call-order price from the largest amount of trades created. During this period, the order book and the candlestick chart will also show the information about the related price range and the market movement based on the real-time reference.
2) During the first stage of call auction, traders are allowed to place orders and cancel orders freely.
3) To avoid market manipulation, during the second stage of call auction, orders can be placed freely by the traders, but orders cancellation are prohibited.
4) When the call auction is finished, users will not be able to place or cancel any orders. The will collect all the data and match the orders. Buy orders with prices higher than the reference price and sell orders with prices lower than the reference price will be matched and e xecuted (a portion of the orders with a higher routed price may not be matched). The remaining orders will go to the order book of the next trading stage automatically.
5) After the call auction data collection, the s ystem will enable trading activities.
For more detail of the new Gate.io Startup Sale Participation Rules and Startup Project Exchange Listing Rules, please see our previous announcement.
(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 token sale on Startup complies with local laws and regulations.
(2) Risk Warning:
- 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 significant risks.
- Advanced technical and financial knowledge is required to understand and e valuate the inherent risks of crypto-asset investment.
- The volatility of market is high, and the price of token might fluctuate drastically due to technical, regulatory and marketing factors etc.
- 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
- Participant should register on Gate.io and Log in;
- After logging in, complete user identity verification;
- Deposit a certain amount of cryptocurrencies in gate.io account;
- Sign the Purchase Agreement on Startup before placing orders.
We sincerely appreciate your continuous support. Stay tuned for more innovative products from Gate.io!
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June 3, 2019