About Gate Startup Free Airdrop Program: In order to reward platform users, Gate launched the "Startup Project Free Airdrop Program." Free airdrops for excellent blockchain projects are launched in the Startup area from time to time. VIP and GT users can get a variety of tokens via airdrop benefits.
Gate Startup will launch its next project, Pocket Network (POKT), at 08:00 AM on January 11th (UTC), 2022.
Startup Link: https://www.gate.com/startup
Introduction to Pocket Network (POKT)
Pocket Network is an infrastructure middleware protocol which provides decentralized computing and abundant bandwidth on full nodes to other applications across many blockchains, including Ethereum, Harmony, Solana, Avalanche, BSC, Gnosis Chain, Polygon, and more. Pocket Network uses a native cryptocurrency, (POKT), to create a permissionless, two-sided market between node providers who run full nodes and developers that want to query data from a blockchain for their application/service. POKT is purchased and staked by both developers and node providers to participate in the network.
(The information below is provided by the Pocket Network team. Please follow the website for more information）
Token Information
Token name: POKT
Token symbol: POKT
Max Supply: 650,000,000
Token Type: Native Token
Token Contract: N/A
Token Distribution and Unlocking Rules:
Pre-Seed: 11.6923%
1-year lockup from mainnet launch
Seed: 5.1346%
1-year lockup from purchase
Direct Sale: 12.3077%
6 to 12 months lockup from purchase
Private Sale: 5.7%
18 to 48 months lockup
DAO: 7.6923%
100% TGE
Incentivized Testnet: 2.0448%
5 unstaking period lockup (105 days)
Foundation Treasury: 5.1220%
100% TGE
PNI Treasury: 3.2947%
100% TGE
MVP: 0.1585%
5 unstaking period lockup (105 days)
Founders: 23.0769%
10% upfront, 3-year vesting from mainnet launch
Advisors: 6.0914%
Vesting varies
Team I: 14.031%
3-4 years vesting from team member start date
Team II: 3.6538%
4-year vesting from team member start date
Website: https://www.pokt.network/
Whitepaper: https://docs.pokt.network/home/
Token Information: N/A
Pocket Network Startup Sale Rules
(1) Duration: 08:00 AM on January 11th-08:00 AM on January 12th (UTC), 2022.(Orders placed by qualified users within these 24 hours will be treated equally.)
(2) To participate in the Startup Sale, users will need to be VIP1 and above.
(3) Price: $0; Reference Price: $2; Startup Supply: 40,000 POKT
(4) Purchase limit: The maximum subscription limit for a single user is 1000 shares; the relationship between the VIP level and the maximum subscription allocation is:
the maximum number of subscriptions (not the final actual subscription 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) Unlocking Rule: Unlock
(6) Users place orders using USDT.
(7) Users can place orders from 08:00 AM on January 11th-08:00 AM on January 12th (UTC), 2022. Orders placed by qualified users within these 24 hours will be treated equally.
(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) Each type of currency can only be purchased once with each KYC account.
(10) After 08:00 AM(UTC) on January 12th, 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.
(11) Trading starts time: 12:00 PM (UTC) on January 12th
Gate Labs Investment Participating Disclosure
Gate Labs invested in Pocket Network
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 that your participation in the token sale on Startup complies with local laws and regulations.
(2) Risk Warning:
- The project team does not guarantee that the 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 evaluate 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 POKT, and launch an AMM "liquidity-mining" rewards. Users who provide market liquidity by inserting liquidity in will get rewards from the liquidity pool transaction fee and GT token rewards from the liquidity reward pool. High annual rate rewards with security.
AMM Trading Market and AMM Liquidity Mining
Gate has launched a new version of the liquidity pool (centralized automated market maker (AMM) transaction service) on August 1st, 2021 by 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 the bonus and withdraw at any time
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Gate Team
January 11th, 2022
