Gate.io Startup Adjusts Sale Goal & Purchase Limit and Launches Discount Offer with PCHAIN
Introduction to Gate.io Startup Discount Offer
Gate.io Startup Discount Offer will be launching PI as the next project. To thank our users, we will provide more Startup token sales with discounts. Gate.io will continue to introduce more innovative projects on Startup.
Trading service will be enabled once the project fulfills its fundraising goal.
Please note that to participate in Startup Sale, users will need to be a VIP. Participants will have a higher purchase limit with more GT holdings. Please refer to the detailed rule as follows before purchasing.
Gate.io Launches Startup Discount Offer with PI on November 20.
To bring more benefits to GT holders, the Startup Sale Goal will be adjusted and the value of each order will also be adjusted accordingly. All the GT received from the sale will be burned publicly.
Startup Link: https://www.gate.io/startup
Gate.io Startup Discount Offer with PCHAIN
1.Introduction to PCHAIN
PCHAIN, is the largest scale native EVM multichain in the world, which can support 256 child chains across continents with 180K TPS and confirm transaction in seconds. PCHAIN is the first public chain investment in Asia Pacific by Google incubator Plug & Play. Meanwhile, it has received strategic investment from more than 40 top-level global funds such as FBG, Torque, QUESCHAIN, Node Capital, LD Capital, JRR and Block VC, etc. PCHAIN was founded by renowned senior experts including the first inventor of international blockchain patent in China, a Singapore Presidential Awards winner and a National “Thousand People Plan” professor. It’s designed to make large scale blockchain applications possible. At present, PCHAIN has achieved strategic cooperation with many Fortune 500 companies.
Click here to check out more: https://www.gate.io/startup/40
2.PI Lucky Draw
To thank our users and to encourage participation in the Startup Discount Sale, we will be having a lucky draw during the PI Discount Sale. The following are the specific rules:
1. The lucky draw starts within the first 10 minutes during the sale;
2. Within the first 10 minutes, every 88th participant in the sale can get the prize,
e.g. the 88th and 176th participants will become the winner, and so on;
3. There are 10 winners in total；
4. The winners will be able to purchase the token with twice of the Startup Purchase Limit,
e.g. Bob has a purchase limit of 10 orders, if Bob becomes a winner, he will be able to place 20 orders in the sale;
5. if the winner is not able to receive the price (e.g. insufficient account balance), other participants will have the chance to win the prize.
Come and participate in the PI Startup Sale and don’t miss out the opportunity of winning extra PI token!
3. PCHAIN Project Overview (for more detailed information, please visit PI official website)
(1) Token Symbol: PI
(2) Total Supply: 2,100,000,000 PI
(3) Current Circulation Supply: ERC 20: 417,266,128 PI; Mainnet: 324,488,981 PI; PIBNB: 8,000,000 PI.
(4) Startup Goal: 125,000 USDT
(5) Startup Total Supply: To be confirmed
(6) Price: will be set 3 hours prior to the sale
Please note that 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 follows: 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.
4.PI Startup Sale Rules
(1) Start Time: November 20, 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 50-100 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 minimum 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. Bob is a VIP2 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 10 orders in the Startup Discount Offer token 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) Each KYC account can only purchase once.
(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 PI supply limit ÷ Total PI supply limit
P (actual individual purchased PI) = F × qualified individual orders
M (actual payment amount) = Startup Sale Price × P
E.g. PI daily supply limit is 100 million. The ordered PI is 200 million. Bob has placed an order to purchase 100,000 PI.
F (distribution ratio) = 100,000,000 ÷ 200,000,000 =0.5
P (actual individual purchased PI) = 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.
(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.
(4) Call Auction Mechanism
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) When the call auction is finished, users will not be able to place or cancel any orders. 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 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.
3) After the call auction data collection, the will enable trading activities.
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November 15, 2019