Announcements Gate.io Startup Initial Free Offering: Auction Light(ACL) and Announcement of Free Distribution Rules (2,000,000 ACL free of charge)

Gate.io Startup Initial Free Offering: Auction Light(ACL) and Announcement of Free Distribution Rules (2,000,000 ACL free of charge)

2024-07-17 08:28:28 UTC 12342 Read

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Gate.io has launched the “Startup Project Free Airdrop Program” in order to reward users. Free airdrops for potential blockchain projects will be launched in Startup from time to time, where users can get a variety of tokens via airdrop benefits.

User's participation funds will not be deducted for Startup project Auction Light(ACL) free airdrop.

1.How to Participate:
Step 1: Login to your Gate.io account(Complete KYC2 verification)
Step 2: Hold no less than 10 USD of spot asset 
Step 3: Click "$0 Free to Claim"

<div style="text-align: center;"><a data-type="gate-activity" rel="nofollow noopener noreferrer"  href="/startup/1690" target="_blank" style="text-decoration: none;display: inline-block;"><div style="text-align:center;background: #2354E6; padding: 16px; border-radius: 8px; width: 200px; margin: 0 auto;"><strong><span style="color:#fff; text-decoration: none;">Click to Subscribe</span></strong></div></a></div>

2.Auction Light(ACL) Startup Participation Rules
Duration: 05:00 AM July 22nd, 2024 - 05:00 AM July 24th, 2024 (UTC) (Orders placed by qualified users within the subscription period will be treated equally.)
Trading starts time: 09:00 AM July 24th, 2024 (UTC) (Trading pair: ACL/USDT)
Fundraising Goal: $40,000 USDT
Startup Supply: 2,000,000 ACL
Unlocking Rule: 100% Unlock
Participation Requirements: Complete KYC2 verification and the value of spot asset balance held is not less than 10 USD.
Startup Participation Rules:
(1) The higher the VIP level, the more Startup airdrop shares can be claimed. Each user can receive up to 8,000 shares. For specific information about available shares, please refer to: https://www.gate.io/announcements/article/37836
(2) Non-VIP Users can join the lucky draw of free airdrop by holding no less than 10 USD of spot assets, 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.
(3) The user's VIP level will be checked when the tokens are distributed. The actual share per user will receive is calculated according to the VIP Level when distribution happens.
(4)Announcement of results: After the subscription ends, the system will count all eligible subscription order and distribute the project tokens accordingly. Tokens for VIP users will be distributed according to the ratio of their valid subscription amount to the total valid subscription amount, while Non-VIP users will have a portion of lucky users randomly selected to evenly distribute the airdrop quota. The subscription results will be announced before listing.
Note: That mATRSple 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.
Learn more about the rules for available shares of different VIP levels: https://www.gate.io/announcements/article/37836
Check participation tutorial: https://www.gate.io/help/guide/functional_guidelines/22401/how-to-participate-in-startup

3.Project Information (The information below is provided by the Auction Light(ACL) team. Please follow the Auction Light(ACL) website for more information）
(1)Introduction：
Auction Light is an auction-based NFT marketplace that aims to increase NFT market efficiency through using auction mechanisms and gas-free transactions. As the NFT market shifts towards small-value NFT, gas fee takes a higher portion of the transaction cost. Our platform solves the emerging pain point for active NFT traders, users only need to sign a message to place trades on NFT, resulting in better execution price and less gas fee paid.

More details: 
(2)Token name: Auction Light
(3)Token symbol: ACL
(4)Max Supply: 2,000,000,000
(5)Token Type: ERC-20
(6)Token Contract: https://etherscan.io/address/0x15C12530382E8653904e81B8aad7ffdEF55b0256
(7)Token Distribution and Unlocked Rules:
Borrow & Lending Incentive:30%    Linearly vested over 36 months
Retroactive Airdrop:2%                    Unlocked at TGE
Token LP:13%                                    20% unlocked at TGE, 80% linearly vested over 36 months
Initial Liquidity Offering:5%              Unlocked at TGE
Token Vesting Incentives:10%          Linearly vested over 36 months
Treasury:10%                                      20% unlocked at TGE，80% linearly vested over 36 months
Founding Team:15%                          Linearly vested over 30 months, 6 months cliff
Seed Investors:15%                           Linearly vested over 30 months, 6 months cliff

(8)Website: https://auctionlight.io
(9)Whitepaper:  https://docs.auctionlight.io/

4.Gate.io Labs Private Sale Participating Disclosure
Gate.io Labs has not invested in Auction Light(ACL).

5.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 "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.

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Gate.io Team
July 17th, 2024

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Gate.io Startup Initial Free Offering: Auction Light(ACL) and Announcement of Free Distribution Rules (2,000,000 ACL free of charge)

Gate.io Startup Initial Free Offering: Auction Light(ACL) and Announcement of Free Distribution Rules (2,000,000 ACL free of charge)

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