Gate Supports Virtua (TVK) to Vanar (VANRY) Token Migration

According to the Virtua (TVK) team, Virtua (TVK) tokens would be swapped for Vanar (VANRY) at a ratio of 1:1. Gate will provide seamless token swap services for users. If your Virtua (TVK) tokens are currently on Gate, you don’t need to do anything in particular.

Details:

1. Before November 26, 2023, 03:00 A.M. UTC, Gate will disable new margin borrowing and crypto loan services for Virtua (TVK).
2. Gate will suspend the deposit, withdrawal, and trading services for Virtua (TVK) staring from November 27, 2023, 03:00 A.M. UTC, including liquidity mining, quantitative trading, Lend & Earn, and margin trading.
3. Users who have in-progress Virtua (TVK) quantitative trading should adjust your trading strategies beforehand. Otherwise, the trading will be terminated automatically before November 27, 2023, 03:00 A.M. UTC.
4. Users who have assets in Lend & Earn may manually redeem them in advance. Otherwise the assets will be liquidated before November 27, 2023, 03:00 A.M. UTC.
5. Users who have outstanding Virtua (TVK) loans in the margin trading market should repay the loans in advance. Otherwise, the loan will be settled automatically before November 27, 2023, 03:00 A.M. UTC.
6. Users who have provided liquidity for Virtua (TVK) in the liquidity mining pool should withdraw the liquidity in advance. Otherwise the liquidity will be automatically redeemed before November 27, 2023, 03:00 A.M. UTC.
7. New Vanar (VANRY) Token ID:
   0x8DE5B80a0C1B02Fe4976851D030B36122dbb8624 (ETH)

Tokenomics:
Total supply of $TVK: 1,200,000,000
Total supply of $VANRY: 2,400,000,000
(After this token exchange, there is a risk of additional issuance of tokens. Please be aware of transaction risks.)

Old Tokenomics：
Marketing：20%--240,000,000
Advisors：5%--60,000,000
Business Development&Partnerships：7.29%--87,480,000
Ecosystem Reserve：20%--240,000,000
Rewards (Early Supporters)：0.15%--1,800,000
Team：10%--120,000,000
Private：20.94%--251,280,000
Private 2-Marketing：1.14%--13,680,000
Equity Investors：3.62%--
Seed：5.83%--69,960,000
2018 Round：5.31%--63,720,000
Public：0.73%--8,760,000
Total: 100%--1,200,000,000

New Tokenomics：
Token Swap：50%--1,200,000,000
Block Rewards：41.5%--996,000,000（20 year vesting, released as rewards for block mined. To begin Q1 2024.）
Ecosystem Development：6.5%--156,000,000
Airdrop/Staking：2%--48,000,000
Total：100%--2,400,000,000

Please note that Gate will not support the old Virtua (TVK) tokens after the swap. The listing time of the new Vanar (VANRY) tokens will be announced later when Gate completes the listing review.

Project team's announcement: https://medium.com/vanarchain/announcement-tvk-to-vanry-token-swap-details-revealed-fbb6329e6d1f

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Gate Team
November 24,2023