Gate has launched Startup, a platform that aims to provide users with access to innovative and advanced projects. Traders now have more opportunities to make an initial investment.Gate Startup will launch its next project with Polkarare on May 10th, 2021 at 8:00 AM UTC.
Startup Link: https://www.gate.com/en/startup/102
About PolkaRARE
(The information below is provided by the Polkarare team. Please visit their website for more details)
Introduction to PolkaRARE
PolkaRARE is a web3 economy that allows any user or a brand to create, trade, and discover NFTs. By leveraging NFT’s provable scarcity, transferability, and polkarare’s offerings, we aim to unlock the maximum potential of NFTs. PolkaRare is powered by PolkaDot, Polygon, Ethereum, & Binance Smart Chain. Most NFT platforms are based on Ethereum. However, current Ethereum network congestion issues have become a bottleneck for NFT creation and trading. Polkarare platform targets to be a multi-chain NFT platform, where creators and users can optimize the blockchains they want to use, and seamlessly transfer them across different networks. The initial phase of the platform allows NFT creation on Ethereum and Polygon chains. In phase 2, we will add NFT creation on the BSC and gradually extend it to other blockchain networks.
Token Information
Token symbol - PRARE
Max supply - 100,000,000
Initial Circulation Supply - 5,600,000 PRARE
Token Distribution:
Marketplace Mining & Staking:12% Operations:4%
Company Reserve: 10%
Team: 12%
Advisors: 3%
Marketing &Partnerships: 10% Exchanges&Liquidity: 3%
Seed Round: 12.5%
Private Round1:12.5%
Private Round2:9.375%
Initial DEX Offering: 2%
Eco Fund: 9.625
Price:
Seed Round: $0.04 Private 1: $0.06 Private 2: $0.08 IDO: $0.1
Token Usecase/Economics
Governance
$PRARE token holders will be able to propose and vote on key proposals, a portion of platform transaction fees will be used for the governance rewards.
- Medium of exchange
$PRARE is used as a primary mode of payment on PolkaRARE.
- Staking Rewards
Stakers will be rewarded with platform fees. Stake $PRARE to earn $PRARE.
- NFT Farming
Stake $PRARE to farm rare NFTs.
- Exclusive NFT drops
$PRARE holders will get exclusive drops from the collectibles product.
Website: https://polkarare.com
Tokenomics: https://tokenomics.polkarare.com/
Important Notice about Gate Startup Sale for $PRARE (1)Startup supply: 350,000 PRARE tokens, 100% unlocked. (2) Price: $0.1 , Payment currency: USDT
(3) The $PRARE tokens will be distributed just before Gate Listing time on May 12th (24 hours after the uniswap listing.).
The $PRARE Startup Sales Rules
(1) Order Duration: May 10th 8:00 AM 4:00 -May 11th 2:00 AM UTC
(2) To participate in Startup Sale, users will need to be VIP1 and above.
(3) The price is 0.1 USDT/ $PRARE
(4) Users can place orders using USDT
(5) Users can place orders from May 10th 8:00 AM 4:00 -May 11th 2:00 AM UTC. Orders placed by qualified users within these hours will be treated equally.
(6) Users need to ensure that there is sufficient balance (exceeding the order value) in accounts for the purchase after placing the orders. An insufficient balance will result in the cancellation of the purchase order.
(7) Each individual user can only purchase once with their verified account.
(8) After May 11th 2:00 AM UTC, we will collect all the qualified orders and calculate the result. The final result will be announced two hours later at 4:00 AM UTC.
(9) The $PRARE tokens will be transferable on May 12th.
The distribution calculation rules are as follow:
F (distribution ratio) = startup supply ÷ total booked amount P (individual purchase orders) = F × booked amount
M (payment amount in USDT) = P × Startup Sale Price
E.g. The token ABC’s startup supply is 1 million. The booked amount in all the qualified orders is 200 million. User A has booked 10,000 tokens in his/her order. Thus:
F (distribution ratio) = 1,000,000 ÷ 2,000,000 =0.5
P (individual DAO purchase orders) = 0.5 × 10,000 = 5,000
M (payment amount in USDT) = 50,000 × Startup Price
Individual Cap:
- VIP 0 will have no token to book(See below for how to upgrade)
- The higher VIP level, the higher individual cap.
- The relation of VIP level & individual cap:
Maximum packs you can order (not the actual purchased quantity) = the Square of VIP Level X 10
- The hardcap per person is 1000 packs.
Example:
If a user is VIP2, the maximum packs he/she can order are: 2210=40 packs
If a user is VIP3, the maximum packs he/she can order are: 3310=90 packs (please note, the booked packs are not the actual packs the user can get as startup sales are generally oversubscribed)
How to Upgrade to a higher VIP Level?
There are three VIP schemes available, your VIP level will be escalated when you
meet any of the following:
Scheme 1: meet requirements for both 30 day’s trading volume + 14-day rolling average GT holdings
Scheme 2: Meet the 14-day rolling average GT requirement only
Scheme 3: Meet the total account value requirement only.
Learn more at: https://www.gate.com/en/fee
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
May 4, 2021
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