Today is the first day (April 15, 2019) of Gate POINT Sale with GT reward for old users who registered during 2013 to 2014. The sale has been completed successfully and up to USD $16.34 million worth of orders were placed. The reward ratio F equals to 12.23%, which is ten times higher compared to yesterday, suggesting more GT rewards were distributed. We sincerely appreciate your recognition and continuous support!
The April 15 sale started from UTC 4:00 and ended at UTC 6:00, all orders placed during this period are treated equally. The information regarding the distribution is as follows:
GT reward supply limit: 5,000,000
Ordered POINT total value (in USDT): 16,409,649
Qualified ordered POINT total value (in USDT): 16,347,999
Number of orders: 2,576
Number of qualified orders: 2,541
Percentage of qualified orders: 98.64130 %
Percentage of succeeded purchases: 99.62430 %
Number of qualified individuals: 2,189
Average qualified order value (in USDT): 6,433
Average qualified order value per user (in USDT): 7,468
Average distribution value per user (in USDT): 913
Average GT reward per user: 2,284
F (reward ratio)= 0.12233912405187
Per the previous announcement, all qualified orders will obtain POINTs and Gatechain Tokens equally. To guarantee transparency and fairness, all original records are being stored for possible third party auditing.
According to the above data, the reward ratio has raised significantly and thus the average GT reward per user is also largely increased. The second day of the second phase of Gate POINTs sale and GT reward distribution starts tomorrow. Users who registered between 2013 and 2016 are able to participate in the sale. Share this information with your friends and don't miss the opportunity!
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 until UTC 8:00. The insufficient balance will result in the cancellation of the purchase order.
Please check the number of qualified POINT orders (from UTC4:00 to UTC6:00) at:
https://www.gate.com/myaccount/point_buy
Check the purchased POINT and GT reward at:
https://www.gate.com/myaccount/myfunds
Check the asset log at:
https://www.gate.com/myaccount/mypurselog
Join the second round of Gate POINT sale for Old Users and get GT reward at UTC 4:00. April 16, 2019
The GT reward ratio is 1 USDT purchased : 2.2 GT. Purchase POINT at:
https://www.gate.com/myaccount/point_buy
1.Gate POINT sales and GT reward Rules
(1) The sale of POINT starts at UTC 4:00, April 8, 2019, and there are 3 phases of it. Please click here to check the previous announcement regarding the reward daily supply limit, price and other relative information for the sale.
(2) In the first phase and second phase, users can place orders to
purchase POINT from UTC 4:00 to UTC 6:00 every day during the
distribution. Order placed by qualified users within these 2 hours will
be treated the same.
(3) To become a qualified user to purchase
POINT, your user account balance should not be smaller than the value
of POINT you are purchasing.
(4) Each user can only use one
account, and the purchase limit is 10 plans per day. Users who violate
this rule will be disqualified, and the payments will be refunded.
(5) Users can place orders using other coins (we take
USDT，BTC，ETH，EOS，BNB，HT). Each order can only use one type of coin, and
each type of coin can only be used once per day.
(6) Before
UTC8:00, 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.
(7) Users can purchase POINT on any specific day or
several days during the distribution (please note that the amount of GT
reward will reduce over time). After UTC 6:00, we will collect all the
qualified orders and distribute the POINT and GT reward according to the
individual purchased plans: total purchased plans ratio. The final
result will be announced at UTC 8:00 each day.
(8) The distribution calculation rules are as follow:
F (reward ratio) =GT reward daily supply limit÷ordered POINT GT reward total
P (actual individual purchased POINT) = F×qualified individual ordered POINT
G (actual individual GT reward) = F * qualified individual ordered POINT GT reward
M (actual payment amount) = F×qualified individual ordered POINT payment amount
E.g. GT reward daily supply limit is 10 million. The ordered POINT GT
reward total is 20 mllion. User X has placed an order to purchase 10
thousand POINTs which comes with 23 thousand GT reward. Thus:
F (reward ratio)= 10,000 ÷ 20,000 =0.5
P (actual individual purchased POINT) = 0.5 × 10,000 = 5,000
G (actual individual GT reward) = 0.5×23,000 = 11,500 GT
M (actual payment amount) = 0.5 ×9200 USDT = 4600USDT
(9) The Gatechain Token (GT) distribution is entirely public and
transparent. There is no ICO, no private sale no distribution to the
team, no pre-order, or reservations for institutions. Please be aware of
scams. Click the only official link below to get GT：https://www.gate.com/point_gt_reward
10. Users in the United States, Canada, Japan and other restricted countries cannot participate in this POINT purchasement.
2.The FAQ of GT and POINTs
1) what is GT?
GT stands for Gatechain Token, it is the base currency of Gatechain's
public chain, supporting the infrastructure of the Gatechain public
chain. GT is the main network fuel of Gatechain, paying the network
transfer fee. Gatechain encourages GT holders to protect the network
health through PoS equity mining. Gate will also adopt GT as part of
its eco.
2) How to Get GT?
GT can
only be acquired via Gate. We will give away 300 million GT to users
in the initial stage of the POINT launch. The GT distribution starts at
UTC 4:00, April 8th, 2019. There is no ICO, no private sale. Please be
careful of scams.
Purchase POINT and Get GT (for WEB only, mobile users, please use the browser)：https://www.gate.com/point_gt_reward
3) In the initial stage, will there be ERC20 based GT on Ethereum?
NO. The alleged ERC20 based GT is a scam. GT can only be gained on
Gate. The deposit and withdrawal of GT will only be available when
the Gatechain Mainnet is launched in Q4 2019.
4) What is the core value of Gatechain and why is it different?
Other than the DEX it provides, Gatechain creatively solves two safety
issues, including 1) how to recover stolen digital assets and 2) how to
find lost private keys.. Gate will reveal more details when the
Gatechain Mainnet is launched. Gate will also make it open source to
benefit users and the community.
5) Why is the initial amount of GT 300 million, but will end up being 1 billion after ten years?
Users have raised doubt about our supply and distribution mechanism,
regarding our large max supply and low circulating supply in particular.
Though this design is not quite like the others, we believe it can
benefit both our platform and users in the long run. The 300 million GT
will be entirely distributed to users, with no ICO or private sales, and
no distribution to the team, meaning the distribution is entirely fair.
The remaining GT will be locked for 12 months and vested for 10 years
so that the funds can be slowly released to support our projects
throughout the future.
6) What is the POINT?
POINT is a new . That can be used to deduct trading fees. 1 POINT
equals 1 USDT fee. Users can get further handling fee discounts by
purchasing a prepaid plan.
7) How can users use POINTs?
Initially, POINTs can be used to deduct trading fees in Markets and
margin trading. In the future, POINTs can be used to deduct trading fees
in other sections such as Fiat trading, Fiat lending/borrowing and
contract trading, else.
8) Will I purchase POINT plans without getting the GT rewards if all the GT has been given away that day?
No. During the distribution, if the daily GT supply is all distributed,
POINTs cannot be purchased. The sales of POINTs will be resumed the
next day. Users will not purchase POINT plans without getting GT
rewards. Users will be notified via announcements if all the GT are
given away and when the POINTs do not come with GT rewards.
9) Can POINTs be transferred?
Initially, POINTs can only be transferred within a certain period of
time. However, users have raised concerns about not being able to
transfer POINTs in time or at a reasonable price. To address users
needs, we have now decided that users can transfer their POINTs.
However, Please be aware of the risk during transfers.
10) Can GT be pre-ordered? Is there any private sale? Is there a reservation for institutions?
The 300 million GT will be awarded to users with the POINTs purchased
publicly. We have announced all the supply and distribution rules to
ensure fairness and transparency. There is no ICO, no private sale, no
distribution to the team, no pre-order, and no reservation for
institutions.
11) When will GT be listed for trading?
After the second phase distribution, GT will be listed on Gate for
trading. GT deposits and withdrawals will be enabled after the GT
mainnet launches.
3. GT distribution Timetable
1)GT Reward Phase 1 Details, starting from UTC 4:00, April 8, 2019
Each day supply limits
Day 1 40,000,000
Day 2 30,000,000
Day 3 25,000,000
Day 4 20,000,000
Day 5 15,000,000
Day 6 12,000,000
Day 7 8,000,000
2) GT Reward Phase 2 Details, starting from UTC 4:00, April 15, 2019
The reward for old users:
3) The reward for VIP users, starting from UTC 4:00, April 18, 2019
Note: The distribution details might be fine-tuned during the distribution phases.
Please refer to
Gate Launches the Next Big Thing and Distributes 300 million Gatechain Tokens (GT)
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April 15, 2019
