Gate.io Startup Initial Free Offering: DAOSquare(RICE) and Announcement of Free Distribution Rules
Gate.io Startup Initial Free Offering: DAOSquare(RICE) and Announcement of Free Distribution Rules (17,858 RICE free of charge)
About Gate.io Startup Free Airdrop Program:
In order to reward platform users, Gate.io launched the "Startup Project Free Airdrop Program." Free airdrops for excellent blockchain projects are launched in the Startup area from time to time. VIP and GT users can get a variety of tokens via airdrop benefits.
Gate.io Startup will launch its next project, DAOSquare(RICE), on October 18th, 2021 at 04:00 AM(UTC).
Startup Link: https://www.gate.io/en/startup
Introduction to DAOSquare(RICE)
DAOSquare is dedicated to being the incubator in the Web3.0 era. Born in the famous western community MetaCartel, and the only eastern project incubated by MetaCartel, DAOSquare is the third VentureDAO in the world after MetaCartel Ventures, The LAO. DAOSquare incubator is an upgraded version of Venture DAO, an incubator based on the concept of Web3.0. It makes the three core incubation efforts - investment, product building and project growth - more open and trustworthy, and gives all participants more rights and rewards through governance tokens.
(The information below is provided by the DAOSquare team. Please follow website for more information）
Token name: DAOSquare Governance Token
Token symbol: RICE
Max Supply: 100,000,000 RICE
Token Type: ERC-20
Token Contract: 0xbd9908b0cdd50386f92efcc8e1d71766c2782df0
Token Distribution and Unlocking Rules:
Incubator rewards are unlocked from VentureDAO launch; Community rewards are locked for 6 months and released linearly over 12 months; Airdrop and public pools are unlocked; Marketplace rewards will be released linearly over 36 months.
6 months cliff, then linearly vesting over 30 months
*Core Contributor: 15%
12 months cliff, then linearly vesting over 24 months
Each start of project incubation will release 1% RICE token amount in SAFT to SP.
If there're remaining RICE tokens written in SAFT not fully released in 1st year, they will be released linearly in the next 6 months.
Token Information: https://etherscan.io/token/0xbd9908b0cdd50386f92efcc8e1d71766c2782df0
DAOSquare Startup Sale Rules
(1) Duration: 04:00 AM-10:00 AM(UTC), October 18th, 2021 (Orders placed by qualified users within these 6 hours will be treated equally.)
(2) To participate in the Startup Sale, users will need to be VIP1 and above.
(3) Price: $0; Public Sale Price: $2.8; Startup Supply: 17,858 RICE
(4) Purchase limit: The maximum subion limit for a single user is 1000 shares; the relationship between the VIP level and the maximum subion allocation is:
the maximum number of subions (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) Unlocking Rule: Unlock
(6) Users place orders using USDT.
(7) Users can place orders from 04:00 AM-10:00 AM(UTC), October 18th, 2021. Orders placed by qualified users within these 6 hours will be treated equally.
(8) 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.
(9) Each type of currency can only be purchased once with each KYC account.
(10) After 10:00 AM(UTC), 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.
(11) Trading starts time: 12:00 PM(UTC), October 18th, 2021
Gate.io Labs Investment Participating Disclosure
Gate.io Labs invested in DAOSquare
(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 that your participation in the token sale on Startup complies with local laws and regulations.
(2) Risk Warning:
The project team does not guarantee that the 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 uate 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 RICE, and launch an AMM "liquidity-mining" rewards. Users who provide market liquidity by inserting liquidity in will get rewards from the liquidity pool transaction fee and GT token rewards from the liquidity reward pool. High annual rate rewards with security.
AMM Trading Market and AMM Liquidity Mining
Gate.io has launched a new version of the liquidity pool (centralized automated market maker (AMM) transaction service) on August 1st, 2021 by 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 the bonus and withdraw at any time
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October 16th, 2021
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