Announcements Gate.io Startup Free Offering: LAVA(LAVA) and Announcement of Free Distribution Rules( 1,000,000 LAVA free of charge)

Gate.io Startup Free Offering: LAVA(LAVA) and Announcement of Free Distribution Rules( 1,000,000 LAVA free of charge)

2023-11-16 12:36:09 UTC 29739 Read

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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 LAVA(LAVA) Startup subscription is a free subscription, and will not deduct the users' participation funds at the end of event.
 
Startup Link: https://www.gate.io/startup
 
**Introduction to LAVA(LAVA)**
LAVA is the native coin of Elysium blockchain, the Layer 1 by Vulcan Forged. Vulcan Forged is at the forefront of blockchain innovation, pioneering a revolution in the gaming world. With Elysium, our cutting-edge layer 1 blockchain, we've created a robust, secure, and scalable infrastructure tailored explicitly for gamers. Our game studio, Vulcan Studios, produces immersive and captivating blockchain games, while MetaScapes, our "Metaverse as a Service" system, empowers creators to forge their own unique metaverses. Vulcan Forged offers a dynamic ecosystem that merges blockchain technology and gaming seamlessly, as we position ourselves as the gateway to a new era of gaming, offering unprecedented ownership of in-game assets and experiences.
 
(The information below is provided by the LAVA(LAVA) team. Please follow LAVA(LAVA) for more information）
 
**Token Information**
Token Name: LAVA
Token Symbol: LAVA
Max Supply：1,000,000,000
Token Type: Native token
Contract: N/A
Token distribution ratio and unlocking rules: 
LAVA is the native token of the Vulcan Forged ecosystem, serving as the primary medium for transactions, gameplay incentives, and participation rewards. With a total supply capped at 1 billion tokens, LAVA underwent a significant evolution from its origins as a Polygon token to become a pivotal asset within the Elysium blockchain. Notably, LAVA's tokenomics include the conversion of Cold LAVA, earned through active gameplay and XP accumulation, into Hot LAVA, which can be used on the Elysium blockchain and exchanged for fiat currency if desired. Additionally, the introduction of the Frenzy Pass system partitions LAVA earnings between a Frenzy LAVA pool and a non-Frenzy pool, creating a circular economy to maximize player rewards. The LAVA Bank and DeFi District initiatives within VulcanVerse offer users opportunities to stake LAVA and earn APY, further integrating gaming and finance. As for vesting, there are no specific vesting periods mentioned in the whitepaper, indicating a straightforward and flexible token distribution model. LAVA's ongoing innovation and expanding utility underscore its significance within the Vulcan Forged ecosystem, with the potential for future use-cases and features.
 
Website: https://vulcanforged.com & https://elysiumchain.tech/
WhitePaper ：https://vulcan-forged.gitbook.io/whitepaper/ 
 
**LAVA(LAVA) Startup Sale Rules**
(1) Duration: 02:00 am 17th Nov, 2023 - 02:00 am 18th Nov, 2023 (UTC)(Orders placed by qualified users within these 24 hours will be treated equally.)
(2) Trading Starts Time: 06:00 am 18th Nov, 2023 (UTC)
Trading Pairs: LAVA/USDT
(3) Price: 0 USDT
(4)Startup Supply : 1,000,000 LAVA
(5) Unlock rule: 100% unlock.
(6) Startup Participation Rules:
Each user can only purchase once with a KYC account.
a) Startup Participation Rules for VIP Users:
For Airdrop Projects, the system will no longer verify the VIP Users’ assets adequacy, instead, the system will verify the Users’ VIP Level. The actual shares each VIP User received will be determined based on the actual VIP Level at the time of token distribution.
Purchase limit: The maximum contribution limit for a single user is 1500 shares. The VIP Users’ existing subscription share rules remain unchanged and can get 100% airdrops. The higher the VIP level, the more Startup airdrop shares can be subscribed.
The relationship between the VIP level and the maximum contribution allocation, please refer to the link: https://www.gate.io/article/29892
b) Startup Participation Rules for Non-VIP Users (VIP 0 Users):
Spot assets not less than 10 USD, after participating in the subscription, whether the Non-VIP Users win or not will be announced at the end of the project subscription.
A portion of lucky Non-VIP Users will be randomly selected and the airdrop amount will be evenly distributed.
Non-VIP users who use Startup vouchers to join the subscription will have their Voucher benefits prioritized. Startup vouchers guarantee a 100% corresponding share, the specific subscription rules can be found at https://www.gate.io/article/31899.
(7) Announcement of results: After the end of the day’s subscription, the system will count all eligible subscription orders.
VIP users will be distributed according to the ratio of the individually subscripted tokens to the total subscripted tokens.
Non-VIP users will be randomly selected as part of the lucky Non-VIP users and the airdrop quota will be distributed equally. The subscription results will be announced before listing.
(8) That multiple accounts with the same KYC information when claiming Startup shares will be deemed as cheating behavior, and any cheating behavior is prohibited. In case of cheating, Gate.io reserves the right to disqualify the users involved and forfeit their rewards.

**Gate.io Labs Private Sale Participating Disclosure**
Gate.io Labs hasn't participated in the LAVA(LAVA) investment.

**Attention**
(1) Please be noted that we may restrict or prohibit the use of all or a portion of the Services (including the participation in this event, game or competition) from Restricted Locations, including but not limited to the United Kingdom, United States of America, Mainland China, Singapore, Canada, France, Germany, Hong Kong, Lithuania, Malaysia, Malta, Cuba, Iran, North Korea, Sudan, Syria, Crimea Region, Spain, Luhansk, Donetsk, Netherlands, Bolivia and so on.

We may in our sole and absolute discretion elect to make the Services, or only part of the Services available in certain jurisdictions. For more information regarding the Restricted Locations, please read the User Agreement “[Section 2.3(d) Restricted Locations](https://www.gate.io/user-agreement "Section 2.3(d) Restricted Locations")”. We do not intend to solicit or conduct marketing towards customers in such Restricted Locations.
(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 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.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.

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Gate.io Team
Nov 16th, 2023

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Gate.io Startup Free Offering: LAVA(LAVA) and Announcement of Free Distribution Rules( 1,000,000 LAVA free of charge)

Gate.io Startup Free Offering: LAVA(LAVA) and Announcement of Free Distribution Rules( 1,000,000 LAVA free of charge)

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