Announcements Announcement on Gate.io Web3 Startup Non-Initial Token Project Veloce and Rules of Participation in Lottery for Free (Win and Share 5,882 Veloce)

Announcement on Gate.io Web3 Startup Non-Initial Token Project Veloce and Rules of Participation in Lottery for Free (Win and Share 5,882 Veloce)

2023-09-28 12:56:36 UTC 24437 Read

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To provide feedback on users’ support for the platform, Gate.io officially launched the “Gate Web3 Startup” on July 3, 2023, and occasionally conducts airdrop plans for blockchain projects. Gate Web3 Wallet users can receive tokens or NFT airdrop benefits by participating in the Web3 Startup.

The project will obtain quota allocation airdrop rewards through lottery, and users can participate for free to share 5,882 Veloce. This time, you only need to make sure your EVM-chain assets is more than 100 USD equivalent amount. The higher the current wallet assets, the greater the probability of obtaining an airdrop!

## I. What is Gate Web3 Startup？
Gate Web3 Startup is a Web3 innovation project issuance platform. Users can easily participate in the Startup by connecting to the Gate Web3 Wallet and holding a designated amount of funds, receiving free tokens or NFT airdrops.

## II. How to Participate?
Web:
Go to the Gate Web3 Startup interface
Connect the wallet (if you do not already have the Gate Web3 Wallet, you can download and install the Chrome Extension first and then create the Gate Web3 Wallet)
Click on the Web3 homepage navigation bar ‘Launch’ - ‘Startup’
Select the project icon in the “In Progress” section, click to jump to the details page, and click to participate in subscription.
![](https://gimg2.gateimg.com/image/article/1692090689VLeZAdIY_VzhSAwhY7nGJRxNBmzut0mHry9kC_C0Ibz7n4K9N3gg1To8YbaWNS_qy4wqsAOFueIOKwJZ5-Ea59rIUI6sGBzQAzQmTsZNjAPVN8YEzuhR1HLGKUVA.png)

APP:
Download/update the Gate.io App (version 5.5.0 and above)
Go to the App homepage and switch to Web3 wallet
Create or import the Gate Web3 Wallet
Click on the Web3 homepage ‘Launch’
Select the project icon in the “In Progress” section, click to jump to the details page, and participate
(Reminder: After transferring to the wallet, it takes approximately 5-10 minutes for on-chain asset confirmation)
![](https://gimg2.gateimg.com/image/article/16920934702.jpg)

## III. What is the Current Project of Gate Web3 Startup?
The current Gate Web3 Startup will be launched for Veloce subscription, which is free and will not deduct user participation funds after completion
Introduction to the Selection Area of the Startup Project
1.Veloce (VEXT) Project Introduction:

Veloce (VEXT), the world’s leading digital racing media network, entered the world of Web3 with the launch of its blockchain utility and governance token, VEXT. VEXT allows the Veloce community to influence and govern key decentralized Veloce assets. The Veloce brand comprises industry-leading gaming and racing platform Veloce Esports, and race-winning outfit Veloce Racing, which competes in the renowned Extreme E championship.

Within this Veloce network are some of the most influential names in gaming and racing, including Mercedes AMG, McLaren, as well as established joint venture sub-brands, such as Lando Norris’ gaming and lifestyle brand Quadrant. With the largest racing community in the world, attracting 35 million subscribers across their social media platforms so far and hitting nearly one billion monthly views, the Veloce group represented a perfect fit for Web3. Their vast reach and credibility is playing a pivotal role in promoting Web3 by building trust, simplifying complex concepts, and driving widespread adoption.

Project details at: https://www.gate.io/zh/web3/startup/907

Basic information of Veloce  project: (According to the official information disclosure of Veloce , please refer to the official website of Veloce  for details)

(1) Full English name of token: Veloce(VEXT)
(2) Full Chinese name of the token: N/A
(3) Token symbol: VEXT
(4) Total Tokens: 300,000,000
(5) Token Type: ERC-20
(6) Token Contract: 
- Polygon: 0x27842334C55c01DDFE81Bf687425F906816c5141; 
- Ethereum: 0xB2492E97a68a6E4B9E9a11B99F6C42E5aCCD38c7

(7) Token distribution ratio and unlocking rules: 
Treasury 36.17% : TGE unlock 4.35%, 25 months monthly vesting.
Governance Rewards 19.84% : TGE unlock 0.41%, 180 months monthly vesting.
Team & Founder 19.43% : TGE not unlocked, 27 months cliff, 28th month unlocked.
IDO & Pre-Sale 18.27%: TGE unlock 100%.
 Fund Investors 4.23%: TGE unlocks 4.2%, 24 months monthly vesting.
Advisors 1.49%: TGE not unlocked, 13 months monthly vesting.
Veloce Group Other 0.57%: TGE not unlocked, 24 months monthly vesting.
(8) Project official website: http://www.velocemediagroup.com 
Project White Paper: https://www.velocemediagroup.com/vext/whitepaper-pdf

## IV. Veloce Subscription Rules:
(1) Subscription start time: 07:00 AM 5th, October, 2023 - 07:00 AM 6th, October, 2023 (UTC)(Orders placed by qualified users within these 24 hours will be treated equally.)
(2) Trading start time: 10:00 AM 6th, October, 2023 (UTC)
Trading Pairs: VEXT/USDT
(3) Subscription price: 0 USDT
(4) Total subscription amount: 5,882
(5) Unlock method: 100% unlock
(6) Participation conditions: Gate Web3 Wallet EVM chain assets need to be no less than $100 to participate in subscription
(7) Purchase limit: Users can only claim once, and the higher the amount of EVM chain funds in the Gate Web3 Wallet, the more subscribed shares.

## V. Gate.io Labs Private Sale Participating Disclosure
Gate.io Labs has participated in the Veloce investment.

## VI. Web3 Startup Related Instructions (if there are any changes, the subsequent announcement shall prevail)
(1) Participation conditions: Gate Web3 Wallet EVM chain asset balance ≥ 100 USD equivalent assets can participate in subscription; The higher the balance of wallet assets, the higher the subscription limit. (EVM chain includes: GateChain, Ethereum, BNB Chain, Arbitrum, Polygon, Optimism, Avalanche, etc.)
(2) Purchase limit: Users can only claim once, and the higher the amount of EVM chain funds in the Gate Web3 Wallet, the more subscribed shares.
(3) Adequate amount: Before completing the distribution, users must ensure a sufficient amount of no less than $100 in the Gate Web3 Wallet; Insufficient amounts will automatically be excluded from valid orders.
(4) Result announcement: After the end of the day’s subscription, the system will count all eligible subscription orders and extract quota based on probability. The higher the wallet funds, the higher the probability of being drawn. The airdrop token/NFT will be directly distributed to the user’s participating wallet address, and winning users can view the received airdrop rewards in the Gate Web3 Wallet or trading history.

## VII. Other Precautions
(1) Risk reminder
·The Startup project is a blockchain start-up project that is still in its early stages, and there may be significant risks in the project’s operation, underlying technology, legal and regulatory environment, etc.
·Understanding blockchain startups and evaluating their inherent risks requires advanced technical and financial knowledge.
·Due to the influence of technology, laws and regulations, market, and other factors, the prices of the projects you participate in may fluctuate sharply, and the prices may significantly decrease or increase.
·Due to the underlying technology of the project or the Gate.io trading platform, the project you are participating in may not be able to fully or partially withdraw cash.
·Virtual coin or NFT projects have high risks. Virtual coin or NFT prices have high volatility. The project teams have not set up a deposit and do not provide any price commitment or breach guarantee. Please be sure to participate in situations where you fully understand the risks and can bear them. The platform strongly reminds you of the risks, but cannot assume any responsibility for investment behavior such as guarantee and compensation.
·Users in the UK and other Restricted Locations cannot participate in this event (please see the User Agreement for further details on Restricted Locations).

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September 28th, 2023

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Announcement on Gate.io Web3 Startup Non-Initial Token Project Veloce and Rules of Participation in Lottery for Free (Win and Share 5,882 Veloce)

Announcement on Gate.io Web3 Startup Non-Initial Token Project Veloce and Rules of Participation in Lottery for Free (Win and Share 5,882 Veloce)

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