Announcements Gate.io’s Compensation Plan for Wise Monkey（MONKY） Trading Discrepancy

Gate.io’s Compensation Plan for Wise Monkey（MONKY） Trading Discrepancy

2024-12-15 13:47:45 UTC 39009 Read

MONKY/USDT + 3.20%

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After the listing of MONKY for trading, we observed abnormal trading activity, which caused irregular price fluctuations within the first 8 minutes. We immediately reached out to the project team, who responded promptly and discussed solutions with us. We finally decided to provide compensation for users who made purchases between 10:00 and 10:08 (UTC) on December 12, 2024. The details of the compensation are as follows:

**Compensation Plan:**
**1.Compensation Rate: **We will provide compensation in MONKY at a rate of 0.00002 USDT per MONKY to users who made purchases between 10:00 and 10:08 (UTC) on December 12, 2024.
Compensation Calculation: (USDT spent for purchase - USDT obtained from sale) / 0.00002 USDT = Amount of MONKY to be compensated. If the user has not yet sold the purchased MONKY, the amount of USDT obtained from the sale will be calculated as: (Amount of MONKY purchased - Amount of MONKY sold) * 0.00002 USDT.

**2.Application Process: **
a. Users must submit a form to apply for the compensation.
b. Form Link: https://www.gate.io/questionnaire/5734

**3.Deadline: **Please submit the form by 16:00 UTC on December 27, 2024. Applications submitted after this deadline will not be processed.

**4.Review and Issuance: **We will review the submitted applications and issue compensation within 7 working days after approval.

We will implement stricter risk control measures to prevent such incidents from occurring again. We would also like to express our sincere gratitude to the project team for their positive cooperation in addressing this issue.

**Important Notes:**
-We will release updates on the compensation process and results through official channels. Please stay tuned for further announcements.
-We strongly recommend users to exercise caution when trading and understand the project details fully before making any trades. Users are advised to be especially aware of trading risks during periods of high market volatility.

<sp>
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Gate.io Team
December 15th, 2024

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