Announcements OverProtocol(OVER): Gate.io Launchpool Initial Offering, Stake to Earn Rewards Hourly!

OverProtocol(OVER): Gate.io Launchpool Initial Offering, Stake to Earn Rewards Hourly!

2024-12-13 09:47:52 UTC 47161 Read

OVER/USDT 0.00%

[//]:content-type-MARKDOWN-DONOT-DELETE
OverProtocol(OVER) is now live on Gate.io Launchpool! Stake supported assets to earn OVER token rewards every hour!

**1.Introduction to OverProtocol(OVER)**
OverProtocol is a Layer 1 blockchain that enables individuals to run full nodes on their personal computers. Through the OverScape app, anyone can participate as a validator without requiring specialized knowledge. By reducing reliance on institutional validators, OverProtocol creates new financial opportunities and aims to establish a stable, global P2P financial network. Users can validate transactions, propose blocks, and earn native OVER tokens as rewards.

**2.OverProtocol(OVER) Mining Rules:**
(1) Staking period: 10:00 AM on December 13th - 10:00 AM on December 16th(UTC), 2024
(2) Trading starts time: 10:00 AM December 16th, 2024(UTC)
(3) Launchpool allocation: 615,000 OVER

|Staking Token   |Total Staking Rewards   |Prize Pool Per Hour   |Hourly Reward Cap Per User   |Minimum Staking Amount   |
| ------------ | ------------ | ------------ | ------------ | ------------ |
|USDT   |200,000 OVER   |2,777.77 OVER   |83.33 OVER   |0.1 USDT   |
|GT   |415,000 OVER   |5,763.88 OVER   |57.64 OVER   |0.01 GT   |

(4) Unlocking Rule: 100% Unlock

**3.Reward Calculation and Distribution**
(1)The system will take multiple snapshots of personal staking amounts hourly, and take the average staking amount as the valid staking amount. Hourly staking reward = (Individual latest 1-hour valid staking amount / Total pool staking amount) × Hourly reward pool
(2)Token rewards will be distributed into the spot accounts of eligible users hourly.
(3)Users can join USDT and GT Staking Pool at the same time to earn rewards from USDT and GT pool separately.

**4.Token Information:**
(The information below is provided by the Over Protocol(OVER) team. Please follow the website for more information）
(1) Token name: OverProtocol
(2) Token symbol: OVER
(3) Max Supply: 1,000,000,000 OVER
(4) Token type: Mainnet 
(5) Token Contract: https://scan.over.network/
(6) Token Distribution and Unlocked Rules:
Community Reserve (Staking Rewards):   300,000,000 , 30%, Staking rewards are released every block
DAO Treasury:   100,000,000, 10%, 10 years of linear vesting per block
Core Contributor:   150,000,000, 15%, 18 month linear vesting per block (75%) with 6 month cliff (25%)
Investors:   100,000,000, 10%, 18 month linear vesting per block (75%), with 6 month cliff (25%)
Over Technologies:   100,000,000, 10%, TGE (20%), 18 month linear vesting per block (60%), with 6 month cliff (20%)
Over Foundation:   100,000,000, 10%, TGE (20%) , 18 month linear vesting per block (60%) with 6 month cliff (20%)
Over Community Access Program (OCAP):   150,000,000, 15%, No vesting

(7) Website: https://over.network/
(8) Whitepaper:  https://docsend.com/view/k9wp8p6srir98sm4

**5.Gate.io Labs Investment Participating Disclosure**
Gate.io Labs did not participate in the OverProtocol(OVER) investment.

**6.Notice**
(1) Gate.io Launchpool is a staking product in the platform’s Startup series, where users can stake designated tokens to receive rewards from the token pools. Before participating in Launchpool, please ensure that you fully understand the participation rules. <a href="https://www.gate.io/help/guide/faq/37021/startup-mining-faq "Click here"" target="_blank">Click here</a> to learn more details.
(2) Please complete <a href="https://www.gate.io/myaccount/kyc_home "identity verification"" target="_blank">identity verification</a> before participating in Launchpool to enhance the security of your account and assets.
(3) After the staking ends, the staked assets will be automatically redeemed. Users can increase or redeem the staked assets at any time during the staking period. After the user redeems in advance or the staking is completed, the staked assets will be transferred to Simple Earn by default. If this option is unchecked, the staked assets will be redeemed into spot assets. If the amount of redeemed assets is too small and does not meet the minimum subscription amount of Simple Earn, the assets will be automatically transferred to spot assets. Additionally, if Simple Earn does not support the subscription of the redeemed token, the assets will also be automatically transferred to spot assets.
(4) The use of duplicate accounts and any other cheating behaviors are strictly prohibited. Any cheating behavior will result in disqualification for receiving rewards.
(5) Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
(6) Gate.io reserves all rights to the final explanation.
(7) This event is not affiliated with Apple Inc. Users in the United Kingdom and other Restricted Locations cannot access the Services (including the participation in this event, game or competition). See the <a href="https://www.gate.io/user-agreement "User Agreement"" target="_blank">User Agreement</a> for further details on Restricted Locations.

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Gate.io Team
December 13th, 2024

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OverProtocol(OVER): Gate.io Launchpool Initial Offering, Stake to Earn Rewards Hourly!

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