About Gate.io Startup Free Airdrop Program In order to reward platform users, Gate.io launched the "Startup Project Free Airdrop Program", and free airdrops for blockchain excellent projects are launched in the Startup area from time to time. VIP and GT users can get a variety of tokens airdrop benefits.
This Witnet(WIT) Startup subscription is a free subscription, and will not deduct the users' participation funds in the end of event.
Startup Link: https://www.gate.tv/startup
Introduction to Witnet(WIT)
The Witnet protocol enables smart contracts to realize their true potential by giving them access to all sorts of valuable data sets, and by attesting and delivering that information securely thanks to its strong cryptoeconomic guarantees.
Witnet is specially designed for “autonomous” smart contracts — those that require a high degree of tamper resistance and shouldn’t leave space for manipulation.
Witnet can power most DeFi primitives like price feeds, stable coins, derivatives, etc., as well as acting as a reliable source of randomness for creating uniqueness in NFTs.
(The information below is provided by the Witnet(WIT) team. Please follow Witnet(WIT) for more information）
Token Information
Token name: Witnet
Token symbol:WIT
Max Supply : 2,500,000,000
Token Type: Native Token
Contract: https://hackmd.io/qbiDDNZORF6ckzdHbW9CPQ?view
Token distribution ratio and unlocking rules:
Founders and seed Stakeholders : 10% 2year vesting with 6 months cliff,Starting October 2020
Witnet Foundation Treasury: 10% Unlocked
2018 Token Presale: 10% Unlocked
Mining: 70% To be independently mined over the next decades at a rate of 175m each year.
Website: https://witnet.io
WhitePaper ：https://arxiv.org/pdf/1711.09756v1.pdf
Witnet(WIT) Startup Sale Rules
(1) Duration: 02:00 30th Nov, 2021 - 02:00 1st Dec, 2021 (UTC)(Orders placed by qualified users within these 24 hours will be treated equally.)
(2) Trading starts time: 04:00AM 1st Dec, 2021 (UTC)
Trading pairs: WIT/USDT
(3) Price: 0 USDT(Public Sale Price: $0.05)
(4)Startup Supply : 600,000
(5) Users purchase using USDT.
(6) Unlock rule: 100% unlock.
(7) To participate in Startup Sale, users will need to be VIP1 and above,can only purchase once with each KYC account.
(8) Purchase limit: The maximum subscription limit for a single user is 1000 shares; the relationship between the VIP level and the maximum subscription allocation is:
the maximum number of subscriptions (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
(9) 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.
(10) 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 before trading starts.
Gate.io Labs Private Sale Participating Disclosure
Gate.io Labs did not participate in the Witnet(WIT) investment.
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 will open an Automated Market Maker (AMM ) for WIT, and launch an AMM "liquidity-mining" rewards. Users who provide market liquidity by inserting liqudity in will get rewards from liquidity pool transaction fee and GT token rewards from liquidity reward pool. High annual rate rewards with secure.
AMM Trading Market and AMM Liquidity Mining
Gate.io has launched a new version of the liquidity pool (centralized automatic market maker (AMM) transaction service) on August 1st, 2021: allowing most of the new currency and non-mainstream currency markets to obtain the same liquidity advantage as Uniswap, and allows users to enjoy the low-cost and high-quality user experience of the centralized platform. Gate.io will continue to add different currencies, please pay close attention to follow-up announcements.
The rules for markets to upgrade to the Automated Market Maker (AMM) model are as follows:
1) Fixed 0.3% commission fee for both Taker and Maker (temporarily consistent with Uniswap, subject to the needs of both market parties)
2) A fixed percentage (such as 50%) of the transaction fee will automatically be changed into GT through the open market and put into the AMM Reward Pool.
3) Anyone can become a liquidity provider (LP) and get the transaction fee rewards from the liquidity pool and the GT rewards that are invested in the liquidity bonus pool.
4) Liquidity providers provide liquidity to the market, but they need to bear in mind the risk of impermanent losses. For example, if the market price doubles, the impermanence loss is about 7%, and if the market price drops back to the original point, the impermanence loss disappears.
5) Liquidity providers can take bonus and withdraw at any time
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Gate.io Team
Nov 19th, 2021