Gate.io Startup(free) Offering Bifrost(BNC)--The First Liquid Staked Parachain
Gate.io Startup Free Offering: Bifrost(BNC) and Announcement of Free Distribution Rules(20,000 BNC free of charge)
About Gate.io Startup Free Airdrop Program In order to reward platform users, Gate.io 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 Bifrost(BNC) Startup subion is a free subion, and will not deduct the users' participation funds in the end of event.
Startup Link: https://www.gate.tv/startup
Introduction to Bifrost(BNC)
Bifrost is the Polkadot Ecological DeFi basic protocol. It is committed to becoming an infrastructure for pledged assets to provide liquidity. It has launched a derivative vToken for Staking and Polkadot Parachain Slot Auction (SALP). It has obtained $2.15M in fund-raising from NGC, SNZ, DFG, CMS and other institutions and Web3 Foundation Grant. It is also a member of the Substrate Builders Program and Web3 Bootcamp.
(The information below is provided by the Bifrost(BNC) team. Please follow Bifrost(BNC) for more information）
Token name: Bifrost
Token symbol: BNC
Token Type: Substrate Based Asset
Token distribution ratio and unlocking rules:
Eco: Locked for governance
Kusama PLO(tentative): 3.75%
Polkadot PLO (tentative): 13.75%
vToken Mint Incentive:22.5%
Slash Insurance Fund:5%
Founders and Team: 20%
TGE0% unlocked, unlock starting 6 months after TGE, unlocked every month, divided into 24 months to unlock.
Seed Round 1: 6%
TGE25%, unlocked, the remaining 75% unlocked every day 0.25%, 300 days unlocked
Seed Round 2: 4%
TGE25% unlocked, the remaining 75% unlocked every day 0.25%, 300 days unlocked
Strategic Round: 2%
TGE30% unlocked, the remaining 70% unlocked every day 0.23333%, 300 days unlocked.
Private Round: 3%
TGE 30% unlocked, the remaining 70% unlocked every day 0.23333%, 300 days unlocked.
Marketing& Community Build:3%. No vesting
Mint Drop: 2% No vesting
Treasury(Foundation): 10% Locked for governance
Bifrost Startup Sale Rules
(1) Duration: 02:00am 21st Oct, 2021 - 08:00am 21st oct, 2021 (UTC)(Orders placed by qualified users within these 6 hours will be treated equally.)
(2) Trading starts time: 13:00pm 21st Oct, 2021 (UTC)
Trading pairs: BNC/USDT
(3) Price: 0 USDT(Initial listing price price:$2)
(4)Startup Supply :20,000 BNC
(5)Unlocking Rule: Unlock
(6) Users purchase using USDT.
(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 sub-scrip-tion limit for a single user is 1000 shares; the relationship between the VIP level and the maximum sub-scrip-tion allocation is:
the maximum number of sub-scrip-tions (not the final actual subion 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
(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) 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.io Labs Private Sale Participating Disclosure
Gate.io Labs has not participated in the Bifrost(BNC) investment.
(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 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 e valuate 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.io.
(3) Requirements for participants
- The participant should register on Gate.io 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 BNC, 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.io 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.io 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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Oct 20th, 2021
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