Gate POINT Sale and GT Reward Distribution Result (Over $500M Orders purchased)

The Gate POINT sale and GT reward distribution for the third day has been completed successfully. Over USD 500 million worth of orders were placed during the sale. Once again we sincerely appreciate your recognition and continuous support!



Today is the third day (April 10, 2019) of Gate POINT Sale with GT reward. The sale started from UTC 4:00 and ended at UTC 6:00, all orders placed during this period are treated equally. The information regarding the distribution is as follows:



GT reward supply limit: 25,000,000

Ordered POINT total value (in USDT): 516,722,590

Qualified ordered POINT total value (in USDT): 507,364,740

Number of orders: 32,913

Number of qualified orders: 31,943

Percentage of qualified orders: 97.0528 %

Percentage of succeeded purchases: 98.1890 %

Number of qualified individuals: 22,453



Average qualified order value (in USDT): 15883

Average qualified order value per user (in USDT): 22596

Average distribution value per user (in USDT): 473

Average GT reward per user: 1113



F (reward ratio)= 0.020967751252606



Per the previous announcement(https://www.gate.com/article/16810), all qualified orders will get POINT and GT reward distributions equally. To provide transparency and fairness as guaranteed, the reservation of all original data is finished for possible third-party auditing.



Data summary compared to the first day of distribution:

1. The GT reward supply limit has decreased by 16.7%
   
2. The ordered POINT total value has increased by 14.23%
   
3. The number of orders has decreased by 3.3%
   
4. The number of qualified individuals has decreased by 6.8%
   
5. The number of orders has increased by 22.6%
   
6. The average GT reward per user has decreased by 10.5%
   
7. The percentage of unqualified orders has decreased.
   
   
   
   The number of users has decreased compared to the second day, the average qualified order value per user has increased by 22.6%. Therefore the average POINT and GT reward per user has decreased by 10.5%. Due to the decrease in GT reward supply limit and the increase in ordered POINT total value, the reward ratio F has dropped by 32%.
   
   
   
   Attention: Most unqualified orders occurred due to insufficient balance in the user account. Please ensure there is sufficient balance (exceeding the purchasing value) for the order until UTC 8:00. The insufficient balance will result in the cancellation of the purchase order.
   
   
   
   Please check the number of qualified POINT orders (from UTC4:00 to UTC6:00) at:
   
   https://www.gate.com/myaccount/point_buy
   
   
   
   Check the purchased POINT and GT reward at:
   
   https://www.gate.com/myaccount/myfunds
   
   
   
   Check the asset log at:
   
   https://www.gate.com/myaccount/mypurselog
   
   
   
   Join the fourth round of Gate POINT sale and get GT reward at UTC 4:00. April 11, 2019
   
   The GT reward ratio is 1 USDT purchased : 2.50.91 GT. Purchase POINT at:
   
   https://www.gate.com/myaccount/point_buy
   
   
   
   1.Gate POINT sales and GT reward Rules
   
   
   
   (1) The sale of POINT starts at UTC 4:00, April 8, 2019, and there are 3 phases of it. Please click here to check the previous announcement regarding the reward daily supply limit, price and other relative information for the sale.
   
   
   
   (2) In the first phase and second phase, users can place orders to
   purchase POINT from UTC 4:00 to UTC 6:00 every day during the
   distribution. Order placed by qualified users within these 2 hours will
   be treated the same.
   
   
   
   (3) To become a qualified user to purchase
   POINT, your user account balance should not be smaller than the value
   of POINT you are purchasing.
   
   
   
   (4) Each user can only use one
   account, and the purchase limit is 10 plans per day. Users who violate
   this rule will be disqualified, and the payments will be refunded.
   
   
   
   (5) Users can place orders using other coins (we take
   USDT，BTC，ETH，EOS，BNB，HT). Each order can only use one type of coin, and
   each type of coin can only be used once per day.
   
   
   
   (6) Before
   UTC8:00, users need to ensure there is sufficient balance (exceeding the
   purchase value) in accounts for the purchase after placing the orders.
   An insufficient balance will result in the cancellation of the purchase
   order.
   
   
   
   (7) Users can purchase POINT on any specific day or
   several days during the distribution (please note that the amount of GT
   reward will reduce over time). After UTC 6:00, we will collect all the
   qualified orders and distribute the POINT and GT reward according to the
   individual purchased plans: total purchased plans ratio. The final
   result will be announced at UTC 8:00 each day.
   
   
   
   (8) The distribution calculation rules are as follow:
   
   
   
   F (reward ratio) =GT reward daily supply limit÷ordered POINT GT reward total
   
   P (actual individual purchased POINT) = F×qualified individual ordered POINT
   
   G (actual individual GT reward) = F qualified individual ordered POINT GT reward
   
   M (actual payment amount) = F×qualified individual ordered POINT payment amount
   
   
   
   E.g. GT reward daily supply limit is 10 million. The ordered POINT GT
   reward total is 20 mllion. User X has placed an order to purchase 10
   thousand POINTs which comes with 23 thousand GT reward. Thus:
   
   F (reward ratio)= 10,000 ÷ 20,000 =0.5
   
   P (actual individual purchased POINT) = 0.5 × 10,000 = 5,000
   
   G (actual individual GT reward) = 0.5×23,000 = 11,500 GT
   
   M (actual payment amount) = 0.5 ×9200 USDT = 4600USDT
   
   
   
   (9) The Gatechain Token (GT) distribution is entirely public and
   transparent. There is no ICO, no private sale no distribution to the
   team, no pre-order, or reservations for institutions. Please be aware of
   scams. Click the only official link below to get GT：https://www.gate.com/point_gt_reward
   
   
   

10. Users in the United States, Canada, Japan and other restricted countries cannot participate in this POINT purchasement.
    
    
    
    2.The FAQ of GT and POINTs
    
    
    
    1) what is GT?
    
    
    
    GT stands for Gatechain Token, it is the base currency of Gatechain's
    public chain, supporting the infrastructure of the Gatechain public
    chain. GT is the main network fuel of Gatechain, paying the network
    transfer fee. Gatechain encourages GT holders to protect the network
    health through PoS equity mining. Gate will also adopt GT as part of
    its eco.
    
    
    
    2) How to Get GT?
    
    
    
    GT can
    only be acquired via Gate. We will give away 300 million GT to users
    in the initial stage of the POINT launch. The GT distribution starts at
    UTC 4:00, April 8th, 2019. There is no ICO, no private sale. Please be
    careful of scams.
    
    
    
    Purchase POINT and Get GT (for WEB only, mobile users, please use the browser)：https://www.gate.com/point_gt_reward
    
    
    
    3) In the initial stage, will there be ERC20 based GT on Ethereum?
    
    
    
    NO. The alleged ERC20 based GT is a scam. GT can only be gained on
    Gate. The deposit and withdrawal of GT will only be available when
    the Gatechain Mainnet is launched in Q4 2019.
    
    
    
    4) What is the core value of Gatechain and why is it different?
    
    
    
    Other than the DEX it provides, Gatechain creatively solves two safety
    issues, including 1) how to recover stolen digital assets and 2) how to
    find lost private keys.. Gate will reveal more details when the
    Gatechain Mainnet is launched. Gate will also make it open source to
    benefit users and the community.
    
    
    
    5) Why is the initial amount of GT 300 million, but will end up being 1 billion after ten years?
    
    
    
    Users have raised doubt about our supply and distribution mechanism,
    regarding our large max supply and low circulating supply in particular.
    Though this design is not quite like the others, we believe it can
    benefit both our platform and users in the long run. The 300 million GT
    will be entirely distributed to users, with no ICO or private sales, and
    no distribution to the team, meaning the distribution is entirely fair.
    The remaining GT will be locked for 12 months and vested for 10 years
    so that the funds can be slowly released to support our projects
    throughout the future.
    
    
    
    6) What is the POINT?
    
    
    
    POINT is a new . That can be used to deduct trading fees. 1 POINT
    equals 1 USDT fee. Users can get further handling fee discounts by
    purchasing a prepaid plan.
    
    
    
    7) How can users use POINTs?
    
    
    
    Initially, POINTs can be used to deduct trading fees in Markets and
    margin trading. In the future, POINTs can be used to deduct trading fees
    in other sections such as Fiat trading, Fiat lending/borrowing and
    contract trading, else.
    
    
    
    8) Will I purchase POINT plans without getting the GT rewards if all the GT has been given away that day?
    
    
    
    No. During the distribution, if the daily GT supply is all distributed,
    POINTs cannot be purchased. The sales of POINTs will be resumed the
    next day. Users will not purchase POINT plans without getting GT
    rewards. Users will be notified via announcements if all the GT are
    given away and when the POINTs do not come with GT rewards.
    
    
    
    9) Can POINTs be transferred?
    
    
    
    Initially, POINTs can only be transferred within a certain period of
    time. However, users have raised concerns about not being able to
    transfer POINTs in time or at a reasonable price. To address users
    needs, we have now decided that users can transfer their POINTs.
    However, Please be aware of the risk during transfers.
    
    
    
    10) Can GT be pre-ordered? Is there any private sale? Is there a reservation for institutions?
    
    
    
    The 300 million GT will be awarded to users with the POINTs purchased
    publicly. We have announced all the supply and distribution rules to
    ensure fairness and transparency. There is no ICO, no private sale, no
    distribution to the team, no pre-order, and no reservation for
    institutions.
    
    
    
    11) When will GT be listed for trading?
    
    
    
    After the second phase distribution, GT will be listed on Gate for
    trading. GT deposits and withdrawals will be enabled after the GT
    mainnet launches.
    
    
    
    3. GT distribution Timetable
    
    
    
    1)GT Reward Phase 1 Details, starting from UTC 4:00, April 8, 2019
    
    Each day supply limits
    
    Day 1 40,000,000
    Day 2 30,000,000
    Day 3 25,000,000
    Day 4 20,000,000
    Day 5 15,000,000
    Day 6 12,000,000
    Day 7 8,000,000
    
    2) GT Reward Phase 2 Details, starting from UTC 4:00, April 15, 2019
    The reward for old users:
    
    
    3) The reward for VIP users, starting from UTC 4:00, April 18, 2019
    
    
    Note: The distribution details might be fine-tuned during the distribution phases.
    Please refer to Gate Launches the Next Big Thing and Distributes 300 million Gatechain Tokens (GT)
    
    Gate is a trading platform that does not charge listing fee, only launches quality projects, and provides users with a 100% guarantee and instant deposit-withdrawal services.
    Get 30% trading fee in the affiliate program at https://www.gate.com/myaccount/myreferrals
    
    Gate New Features:
    Spot Trading on Gate (200+ tokens):https://www.gate.com/trade/BTC_USDT
    Margin Trading on Gate (Long or Short):https://www.gate.com/margin_trade/BTC_USDT
    Perpetual Contract Trading:https://www.gate.com/futures_trade/BTC_USD
    Lending on Gate (secure and stable, high annual return):https://www.gate.com/margin/lend/USDT
    C2C Trading on Gate:https://www.gate.com/c2c/usdt_cny
    Download Gate APP:https://www.gate.com/mobileapp
    Download Wallet.io (ALL in ONE):https://www.wallet.io/
    
    Follow us and get updated at (Follow as to win bonus)
    Facebook: https://facebook.com/gateioglobal
    Twitter: https://twitter.com/gate_io
    Telegram：https://t.me/gate_zh
    Instagram：https://www.instagram.com/gateioglobal
    Medium：https://medium.com/@gateio
    
    Gate
    April 10, 2019