Gate.io Startup 20% Discount ETH Sale Result Announcement
2019-09-24 10:26:02 UTCRead：88914
ETH Startup Sale Result
The Gate.io Startup Special Offer with 20% Discount ETH Sale has been successfully completed. Upcoming next are more top currency sales with discounts. To participate Startup Special Offers with Top Currencies, please go to: https://www.gate.io/startup.
In this sale, there were 3057 participants, and a total of about 3.58 million USDT worth of orders were placed to purchase ETH with a 20% discount. Users can check the balance at https://www.gate.io/myaccount/mystartup
The special offer has applied the minimum 14-day GT holding calculation method which also oofers a lower user purchase limit. Compared to the previous Startup Special Offer, the distribution ratio has largely increased to a 8.966%. The average distributed token per user has also significantly increased.
The purchase result is as follows:
ETH Startup Sale Amount: 1,914.79174236 ETH
Total value of orders (in USDT): 3,582,415.603845101
Total value of qualified orders (in USDT): 3,568,852.212997599
Number of orders: 3,057
Number of Qualified orders: 3,038
Percentage of qualified orders: 99.378475629702 %
Percentage of succeeded purchases: 99.621389800978 %
Number of participants: 3,057
Number of qualified participants: 3,038
Average qualified order value per user (in USDT): 1,174.7373973001 USDT
Average distributed ETH per user: 0.63028036285714 ETH
F (distribution ratio with GT) = 0.089664682339486
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.
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.
GT Buy-back and Burn
In this Special Offer. Gate.io has received 320,000 USDT. The team has purchased 449028.5264 GT from the open market, and the purchased GT has now all transferred to the token burning address.
https://etherscan.io/tx/0xbe19b4508700ce2daf3ebdb4ea112cb5e7f794f1d1561196ac67da3bdbac5dfbToken burning address:
About Startup Special Offers
To bring more benefits to our users, Gate.io has upgraded Startup Special Offer and we will launch sales for top currencies (i.e. BTC, ETH, EOS) with discounts. VIP users and GT holders can participate in the sales with USDT. All the USDT received from the Special Offer token sale will be used to purchase GT from the open market, and the purchased GT will be burned publicly. For more details of the Gate.io Startup Special Offer Upgrade, check out https://www.gate.io/article/16985
The detail purchase rules are as follows:
1) User can purchase some of the top currencies (i.e. ETH) with discounts (i.e. 20% off) via the Startup Special Offers.
2) To participate in the Startup Special Offers, users are required to have certain VIP levels. The purchase limit will be calculated based on users’ GT holdings. Please refer to the announcement of each sale for the details.
3) The amount of token distributed to each user will be calculated based on the total amount of token on sale and the number of orders placed within the 2-hour sale (The distribution ratio will be raised to decrease the amount of USDT user need to place, lottery distribution model with GT may apply in the future).
4) Users can participate in the Special Offer sales with USDT (Borrowed USDT is also allowed. For other Startup Sales, users need to participate with GT).
5) The USDT received from all the Startup Special Offer will be used to purchase GT from the open market.
6) All the GT purchased will be burned publicly.
Let’s take an example, based on one of our previous’ campaigns: The ETH $250,000 Startup Special Offer with a 20% discount. We are operating the example under the assumption
Bob is a VIP4 user, and his lowest 14-Day GT holding is 10,000 GT.
1) According to the purchasing rules, with a VIP4 Status, Bob has a purchase limit of 6,000 USDT and so places an order worth 6,000 USDT.
2) The value of the total order placed within the 2-hour sale is 5,000,000 USDT. The distribution ratio is hence 5%.
3) Based on the data above, Bob can get 6,000 USDT * 5% = 300 USDT worth of ETH.
4) The received 200,000 USDT (20% of 250,000) are used to purchase GT from the open market.
5) All the purchased GT are burned.
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