Gate launches Discount UMB Sale on Startup

Gate Startup Special Offers



The Gate Startup Special Offers with high quality cryptocurrencies is
now available. We will launch sales of some of high quality traded
currencies with discounts on a monthly basis. Participate the latest
Startup Sales at (for Web only): https://www.gate.com/startup



Introduction to Umbrella Network

Umbrella Network is a community owned, decentralized oracle service
providing secure, low cost and massively scalable data solutions to
blockchain and decentralized finance (DeFi) applications. Umbrella
provides access to data previously unavailable to blockchain developers
across multiple segments including mid and long tail crypto assets as
well as real world financial data.

(The information below is provided by the Umbrella Network team. Please follow Umbrella Network for more information）



Token Information

Token name: Umbrella Network

Token symbol: UMB

Max Supply: 500,000,000 UMB

Token Type: ERC-20

Contract: 0x6fc13eace26590b80cccab1ba5d51890577d83b2

Token distribution ratio and unlocking rules:

304,000,000 tokens locked in foundation controlled wallets. Unlocked linearly over 4 years

Token Information: https://medium.com/umbrella-network/an-update-on-umbrella-networks-umb-tokenomics-b81030bd699e

Website：https://www.umb.network/

Document：https://www.umb.network/wp-content/uploads/2021/02/umb_litepaper_design_v3.1.pdf





Gate Startup Discount UMB Sale



To thank our users’continuous support, Gate and Umbrella Network
will be offering $50k worth of UMB for sale with a discount on Startup.
The Startup price is calculated based on the average closing price of 3
days before the announcement (1.2 USDT/UMB) and doing a half-price sale.
Umbrella Network will be offering 41,666 UMB (worth of $50,000 USD).
The trading service of /USDT,/ETH will be enabled after the Startup
Sale.



The purchase rules for Startup UMB Sale with Discount are as follows:



(1) Time: UTC1:00 – 23:00, April 10th

All the orders placed within these 22 hours are treated equally.

(2) Participants can purchase with USDT.

(3) Participants should be VIP1 and above.

(4) 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

(5) 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.

(6) Each type of currency can only purchase once with each KYC account.

(7) 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 two hours later
01:00 11th April, 2021(UTC)

The distribution calculation rules are as follow:



F (distribution ratio) = Daily UMB supply limit ÷ Total UMB supply limit

P (actual individual purchased UMB) = F × qualified individual orders

M (actual payment amount) = Startup Sale Price × P



E.g. UMB daily supply limit is 100 million. The ordered UMB is 200
million. User X has placed an order to purchase 100 thousand UMB.



Thus:

F (distribution ratio) = 100,000,000 ÷ 200,000,000 =0.5

P (actual individual purchased UMB) = 0.5 × 100,000 = 50,000

M (actual payment amount in usdt) = 50,000 × Startup Price in usdt



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 is an established exchange that holds integrity, transparency,
  and fairness to a very high standard. We charge zero listing fees and
  only choose quality and promising projects. Our exchange consists only
  of 100% real trading volume. Thanks to everyone who has joined us in our
  journey. We always intend to improve and innovate to reward our users
  for their continuous support.
  
  
  
  Gate Team
  
  April 8, 2021
  
  
  
  Get 40% of all referees' trading fees in the affiliate program at https://www.gate.com/referral
  
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