The Gateio Startup CNNS Token Sale started at UTC 4:00 and ended at UTC 6:00, April 22, 2019, all orders placed during this period were treated equally. There were 49,000 participants, and over $110 million USD worth of orders were placed. The distribution ratio for orders placed using USDT is 1.37%, the distribution ratio of orders placed using GT is 5.91%. Per the previous agreement, the Startup fund raising goal has been reached and the project is considered successfully completed. Gate will distirbute CNNS based on the data we collected, and we will enable the trading and deposit/withdrawal service of CNNS at UTC 4:00, April 24, 2019.
Trade CNNS at:
https://www.gate.com/trade/CNNS_BTC
https://www.gate.com/trade/CNNS_ETH
The deposit service of CNNS is now available. Deposit CNNS at:
https://www.gate.com/myaccount/deposit/CNNS
The Gate Startup CNNS Token Sale Result is as follows:
CNNS Startup Sale Amount: 600,000,000
Total value of orders (in USDT): 112,484,280
Total value of qualified orders (in USDT): 111,141,960
Number of orders: 55,591
Number of Qualified orders: 54,508
Percentage of qualified orders: 98.05184 %
Percentage of succeeded purchases: 98.80666 %
Number of participants: 49,260
Number of qualified participants: 48,731
Average qualified order value (in USDT): 2,039
Average qualified order value per user (in USDT): 2,280
Average distribution value per user (in USDT): 73
Average distributed CNNS per user: 12,312
F (ditribution ratio with USDT) = 0.013741674835329
F (ditribution ratio with GT) = 0.059148575965173
Per the previous announcement, all qualified orders will obtain the token on sale equally. To guarantee transparency and fairness, all original records are stored for possible third-party auditing.
According to the above data, due to the large number of participants (about 50 thousand) and the high volume of total value of orders ($110 million USD), the distribution ratio was relatively small (especially with USDT). Gate startup will continue to provide more innovative and advanced projects, users will be able to have more opportunities to make initial investments. Stay tune and keep up with Gate Startup by following our announcements and check out the Startup webpage.
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 by UTC 8:00 A.M. The insufficient balance will result in the cancellation of the purchase order.
Gate Startup Launches 1st Project with CNNS#
Gate introduces Startup, a platform that aims to provide users with
access to innovative and advanced projects. Traders now have more
opportunities to make initial investment. Trading service will be
enabled once the startup project fulfills its fund raising goal. Gate
Startup will launch its first project with Cryto Neo-value Neural
(CNNS).
Over the past six years, Gate has endeavored to
conduct in-depth research and listed hundreds of the most sought after
projects for our users to trade using our secure, fast, and industry
leading trading services. Gate aims to promote the growth of the
blockchain industry, by not charging any listing fees and offers traders
a transparent and secure trading environment with no market
manipulation. Gate has been making an effort to improve the situation
where exchanges tend to ask for high listing fees and where blockchain
investors have limited access to accurate and transparent information.
In the future, we will continue to present projects with strong
utilities, establish prolonged cooperation with our partners, and
provide timely updates on Gate Startup.
Startup Link: https://www.gate.com/startup
1.Introduction to CNNS
CNNS, short for Crypto Neo-value Neural , intends to build a vibrant
blockchain ecosphere to facilitate users to discover, invest in, and
exchange information and values of crypto assets. The CNNS Ecosphere
contains four modules: CNNS Information Terminal (CIT), CNNS Asset
Management Platform (CAMP), CNNS Value Exchange Platform (CVEP) and CNNS
Global Community (CGC).
Click here to check out more: https://www.gate.com/startup/2
CNNS Project Overview (for more detailed information, please visit CNNS official website)
(1) Token Symbol: CNNS
(2) Total Supply: 10 billion
(3) Initial Circ. Supply: 13%
(4) Amount Raised in Public Sale: $3.6 million USD
(5) Startup Total Supply: 600 million
150 million in USDT;
450 million in GT
(6) Price: 1 CNNS=0.006 USDT; 1 CNNS=0.01 GT
Please
note: Since GT trading service is not available, the temporary price
"P1" is set to be 1GT=0.60 USDT. One month after the project launch, the
price "P2" will be adjusted according to the GT daily opening price on
Gate from April 25 to May 25 (GMT +8:00). If P2 is over 10% higher
than P1, which is more than $0.66 USD, Gate will refund the exceeding
amount (P2-P1*110%) in GT based on P2 to users who invested with GTs.
(7) Token Allocation:
- Startup 6%
Unlocked
- Private Placement 14%
0.3% of these tokens will be unlocked each day three months after the
exchange listing, it takes 333 days to unlock all of them.
- Foundation 20%
2% of total distribution will be used for running the foundation at an
early stage, and 10% of total distributed tokens will be unlocked every
year after exchange listing.
- Team 10%
2% of total distributed tokens will be unlocked every year after exchange listing. It takes 5 years to unlock all of them.
- Community Reserved 50%
5% will be used for building the eco at an early stage, and 10% of
total distributed tokens will be unlocked every year after exchange
listing.
2.CNNS Startup Sale Rules
(1) Start Time: April 22, UTC 4:00 - 6:00
(2) Purchase limit: no less than 20,000 CNNS and no more than 500,000 CNNS per individual
(3) Users can place orders from UTC 4:00 to UTC 6:00. Order placed by
qualified users within these 2 hours will be treated equally.
(4)
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.
(5) Users can place orders using other coins (we take USDT and GT). Each order can only use one type of coin.
(6) After UTC 6:00, we will collect all the qualified orders and
distribute the tokens according to the individual purchased orders:
total purchased orders ratio. The final result will be announced at UTC
8:00 each day.
(7) The distribution calculation rules are as follow:
F (distribution ratio) = Daily CNNS supply limit ÷ Total CNNS supply limit
P (actual individual purchased CNNS) = F × qualified individual orders
M (actual payment amount) = Startup Sale Price × P
E.g. CNNS daily supply limit is 100 million. The ordered CNNS is 200
million. User X has placed an order to purchase 100 thousand CNNS.
Thus:
F (distribution ratio) = 100,000,000 ÷ 200,000,000 =0.5
P (actual individual purchased POINT) = 0.5 × 100,000 = 50,000
M (actual payment amount in USDT) = 50,000 × 0.006 USDT = 300 USDT
M (actual payment amount in GT) = 50,000 × 0.01 GT = 500 GT
If the project cannot fulfill its fund-raising goal within the given
time, users will get refunded and the project will be delisted.
3. 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 token sale on Startup complies with local laws and
regulations.
(2) Risk Warning:
- 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 significant risks.
- Advanced technical and financial knowledge is required to understand and uate the inherent risks of crypto-asset investment.
- The volatility of market is high, and the price of token might
fluctuate drastically due to technical, regulatory and marketing factors
etc.
- Users may not be able to withdraw all the purchased tokens due to technical issues of the project or Gate.
(3) Requirements for participants
- Participant should register on Gate and Log in;
- After logging in, complete user identity verification;
- Deposit a certain amount of cryptocurrencies in gate.io account;
- Sign the Purchase Agreement on Startup before placing orders.
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
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Gate
April 22, 2019
