Announcements Gate.io Startup Initial Free Offering: Chainflip(FLIP)and Announcement of Free Distribution Rules( 21,858 FLIP free of charge)

Gate.io Startup Initial Free Offering: Chainflip(FLIP)and Announcement of Free Distribution Rules( 21,858 FLIP free of charge)

2023-11-21 13:16:16 UTC 30420 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 Chainflip(FLIP) 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 Chainflip(FLIP)
Chainflip is a cross-chain DEX which uses threshold signature schemes, an independent application specific blockchain, and a purpose-built AMM using Just In Time liquidity to facilitate native cross-chain swaps. Chainflip grants users access to native assets that are currently isolated from the DeFi landscape and not well served by existing DEXes - like ETH, DOT, and BTC, to name a few. The Chainflip protocol maximises capital efficiency to enable trades at extremely low slippage and at price parity to a centralised exchange.
 
(The information below is provided by the Chainflip(FLIP) team. Please follow Chainflip(FLIP) for more information）
 
Token Information
Token Name: Chainflip
Token Symbol: FLIP
Max Supply：Chainflip has an elastic supply, however the total supply is 90,000,000 on TGE, for more information about Emissions & Burning, please refer to: https://docs.chainflip.io/concepts/components/incentive-design-emission-and-burning 
Token Type: ERC-20
Contract: https://etherscan.io/token/0x826180541412D574cf1336d22c0C0a287822678A 
Token distribution ratio and unlocking rules: 
Private sales, 25.94%, 34,181,497 FLIP, 50% Lock up A: 1 year cliff followed by full unlock and 50% on Lock up B: 20% unlocked upon TGE followed by linear vesting.
Locked Treasury, 20.37%, 26,833,686 FLIP, 48 month cliff.
Team, 9.87%, 13,000,000 FLIP, Mix of lockups but generally vesting linearly over 3 years.
Liquidity, 3.8%, 5,000,000 FLIP, Available immediately for LP.
Protocol Development, 3.19%, 4,200,000 FLIP, 1 year linear unlock.
Airdrops, 3.61%, 4,750,000 FLIP, Immediately upon TGE.
Public Sale, 1.57%, 2,066,314 FLIP, Immediately upon TGE.
Estimated Validator Rewards,  51.79%, 68,228,270 FLIP, 84 months.
Token Burn Mechanism, -20.12%, -26,510,829 FLIP, 84 months.

Website: https://chainflip.io/ 
WhitePaper ：https://chainflip.io/whitepaper.pdf

Chainflip(FLIP)  Startup Sale Rules
(1) Duration: 08:00 AM November 22nd, 2023 - 08:00 AM November 23rd, 2023 (UTC)(Orders placed by qualified users within these 24 hours will be treated equally.)
(2) Trading Starts Time: 12: 00 PM November 23rd, 2023 (UTC)
Trading Pairs: FLIP/USDT
(3) Price: 0 USDT
(4)Startup Supply : 21,858 FLIP
(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 Chainflip(FLIP) 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
November 21st, 2023

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Gate.io Startup Initial Free Offering: Chainflip(FLIP)and Announcement of Free Distribution Rules( 21,858 FLIP free of charge)

Gate.io Startup Initial Free Offering: Chainflip(FLIP)and Announcement of Free Distribution Rules( 21,858 FLIP free of charge)

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