About Gate Startup Free Airdrop Program In order to reward platform users, Gate 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 Shiden(SDN) Startup subion is a free subion, and will not deduct the users' participation funds in the end of event.
Startup Link: https://www.gate.com/startup
Introduction to Shiden(SDN)
Shiden Network is a multi-chain decentralized application layer on Kusama Network. Kusama Relaychain does not support smart contract functionality by design - Kusama Network needs a smart contract layer. This is where Shiden Network comes in. Shiden supports Ethereum Virtual Machine, WebAssembly, and Layer2 solutions from day one. The platform supports various applications like DeFi, NFTs and more.
(The information below is provided by the Shiden(SDN) team. Please follow Shiden(SDN) for more information）
Token Information
Token name: Shiden Token
Token symbol: SDN
Max Supply：70,000,000
Token Type: Substrate Base
Contract: N/A
Token distribution ratio and unlocking rules:
Users ： 30% We have done 2 lockdrops with ETH. More than 150,000 ETH had been locked on our smart contract in 2 months. We issued tokens based on the opportunity cost and operation costs. Our lockdrop is NOT an ICO or investment but a sort of staking. We forked Plasm at block number #3,000,000. Users who have PLM at that moment can claim SDN.
Parachain Auctions： 30% To become a Polkadot Parachain, we collect KSMs from the community and issue SDNs as a reward. 30% is prepared for the crowdloans for Parachain Lease Offering. We are going to use 22% for the first auction and 8% for the second auction.
Parachain Auction Reserve 5% Funds to be used for future parachain Lease Offerings. (Additional funds)
Protocol Development： 10% Funds to be used for protocol developments and a grant program (TBA)
On Chain DAO : 5% Funds for the on-chain treasury that our community decides how to use.
Marketing: 5% Funds to be used for marketing purposes.
Eco Growth: 10% Funds to be used for eco growth program
Team: 5% Incentive pool for employees.
Website: https://shiden.astar.network/
WhitePaper: https://github.com/PlasmNetwork/plasmdocs/blob/master/wp/en.pdf
Shiden Startup Sale Rules
(1) Duration: 03:00 28th August, 2021 - 03:00 29th August, 2021 (UTC)(Orders placed by qualified users within these 24 hours will be treated equally.)
Trading pairs: SDN/USDT, SDN/ETH, SDN/BTC
(2) Price: 0 USDT(Market Price:$1.4)
(3) Startup Supply : 35,714 SDN
(4) Users purchase using USDT.
(5) To participate in Startup Sale, users will need to be VIP1 and above,can only purchase once with each KYC account.
(6) Purchase limit: The maximum sub-scrip-tion limit for a single user is 1000 shares; the relationship between the VIP level and the maximum sub-scrip-tion allocation is:
the maximum number of sub-scrip-tions (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
(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) 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 Labs Private Sale Participating Disclosure
Gate Labs has not participated in the Shiden(SDN) 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.
(3) Requirements for participants
- The participant should register on Gate 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 Shiden, 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 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 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:
- Fixed 0.3% commission fee for both Taker and Maker (temporarily consistent with Uniswap, subject to the needs of both market parties)
- 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.
- 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.
- 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.
- Liquidity providers can take bonus and withdraw at any time
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Gate Team
Aug 27, 2021
