Gate Startup Free Offering: Genshiro(GENS) and Announcement of Free Distribution Rules(1,277,825 GENS free of charge)

About Gate Startup Free Airdrop Program In order to reward platform users, Gate launched the "Startup Project Free Airdrop Program", and free airdrops for blockchain excellent projects are launched in the Startup area from time to time. VIP and GT users can get a variety of tokens airdrop benefits.

This Genshiro(GENS) Startup contribution is a free contribution, and will not deduct the users' participation funds at the end of the event.



Startup Link: https://www.gate.com/startup



Introduction to Genshiro(GENS)

Genshiro is a sister-chain of Equilibrium blockchain on Kusama network, a cross-chain DeFi one-stop-shop with novel liquidation mechanics and portfolio margin. It runs a money market, a spot market with up to 20x leverage, and the futures market is coming soon. Genshiro works with portfolios rather than single collateral vaults to minimize risks for users. The native token of Genshiro is GENS, which is a multipurpose token that allows its holders to govern the protocol and among other use cases significantly boosts staking rewards when locked in the system.



(The information below is provided by the Genshiro(GENS) team. Please follow Genshiro(GENS) for more information）



Token Information

Token name: Genshiro

Token symbol: GENS

Max Supply：1,200,000,000

Token Type: BEP-20

Contract: 0x2CD14cbA3F26254beeD1d78158cd2B6F91809600

Token distribution ratio and unlocking rules:

Lockdrop to EQ holders: 45%, Initial distribution to EQ holders pro-rata their holdings

EQ Staking Bonus: 5%, Additional rewards for those who participated in a lockdrop

Liquidity Farming: 15%, Reward liquidity providers in the Genshiro network

Kusama crowd loan rewards: 20%, Incentivize KSM holders to vote for Genshiro in para chain auctions

Treasury: 15%, Cover extreme losses in case of "Black Swan" events.

-Lockdrop to EQ holders has 60 days unlock schedule

-Kusama Crowdloan rewards are vested with 10% distributed initially and 90% vested over the course of 48 weeks.

Both mechanics start on 20 Jan 2022



Website: https://genshiro.equilibrium.io/

Whitepaper:https://equilibrium.io/docs/Equilibrium_WP.pdf



Genshiro Startup Sale Rules

(1) Duration: 07:00 AM January 12th, 2022 - 07:00 AM January 13th, 2022 (UTC)(Orders placed by qualified users within these 24 hours will be treated equally.)

(2) Trading starts time: 10:00 AM January 13th, 2022 (UTC)

Trading pairs: GENS/USDT

(3) Price: 0 USDT(Secondary Marketing Price: $0.0815)

(4)Startup Supply : 1,277,825 GENS

(5) Users purchase using USDT.

(6) Unlock rule: 100% unlock.

(7) To participate in Startup Sale, users will need to be VIP1 and above, can only purchase once with each KYC account.

(8) Purchase limit: The maximum contribution limit for a single user is 1000 shares; the relationship between the VIP level and the maximum contribution allocation is:

the maximum number of contributions (not the final actual contribution 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

(9) 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.

(10) 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 before trading starts.



Gate Labs Private Sale Participating Disclosure

Gate Labs has not participated in the Genshiro(GENS) investment.



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 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 GENS, and launch an AMM "liquidity-mining" rewards. Users who provide market liquidity by inserting liqudity in will get rewards from liquidity pool transaction fee and GT token rewards from liquidity reward pool. High annual rate rewards with secure.
  
  
  
  AMM Trading Market and AMM Liquidity Mining
  
  Gate has launched a new version of the liquidity pool (centralized automatic market maker (AMM) transaction service) on August 1st, 2021: 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:
  

1. Fixed 0.3% commission fee for both Taker and Maker (temporarily consistent with Uniswap, subject to the needs of both market parties)
   
2. 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.
   
3. 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.
   
4. 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.
   
5. Liquidity providers can take bonus and withdraw at any time
   
   
   
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   January 11th, 2022