Announcements Gate.io “Launchpool” Initial Offering: TeleportDAO (TST) and Announcement of Distribution Rules

Gate.io “Launchpool” Initial Offering: TeleportDAO (TST) and Announcement of Distribution Rules

2024-06-24 06:37:11 UTC 29006 Read

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About Gate.io Launchpool Program 
Launchpool is a platform where users can stake their assets or provide liquidity to earn rewards in new project tokens. Users can lock specified tokens in the Launchpool pool to receive corresponding project token rewards.

Visit Launchpool and learn more:

Notice: To participate in mining, please proactively update the app to version 6.80.
 
**Introduction to “Launchpool" Project  TeleportDAO (TST)：**
TeleportDAO enables trustless and Bitcoin-grade secure connections from Bitcoin to EVM chains and Bitcoin Layer 2 solutions through a light-client bridge. The protocol facilitates Bitcoin bridging and supports the creation of cross-chain applications for Bitcoin.

TeleportDAO's light-client bridge facilitates the transfer of messages from Bitcoin to EVM chains and introduces two key decentralized applications (dApps).

-TeleSwap: a decentralized trading platform that enables users to seamlessly bridge and exchange BTC and BRC-20s across Ethereum, Polygon, and BNB Chain with unmatched security. 
-TeleOrdinal: the first cross-chain marketplace for Bitcoin NFTs (Ordinals) that enables decentralized bidding on Ordinals from EVM chains using stablecoins.

**TeleportDAO (TST) Launchpool Rules**
(1) Launchpool Duration:  08:00 AM on June 24th - 08:00 AM on June 27th (UTC), 2024 
(2) Trading starts time: 08:00 AM on June 27th (UTC), 2024    
(3) Initial circulation: 130,480,707 TST（13.0480707%）
(4)Launchpool allocation：666,667 TST
(5)Total Daily Rewards：222,222 TST
(6)Supported pairs：GT
(7) Unlocking Rule: 100% Unlock
(8) Launchpool Participation Rules:
  1.Users can choose Launchpool projects and stake assets for a minimum period of 12 hours on the same day to start earning rewards.
  2.A snapshot of the staked token quantities for qualifying users is taken at 00:00 (UTC+0) daily, and token rewards are distributed to eligible users. Daily earnings will be distributed into users' spot accounts.
  3.Daily staking rewards = Your valid staked asset amount / Total valid staked asset amount by all participants * Daily rewards pool.
  4.Users can increase or redeem the staked assets at any time during the staking period. However, early redemption may result in the loss of accrued rewards.

(The information below is provided by the TeleportDAO (TST) team. Please follow the website for more information）
 
**Token Information**
Token name: Teleport System Token
Token symbol: TST
Max Supply: 1,000,000,000 TST
Token Type:  Ethereum
Token Contract: 0x0828096494ad6252f0f853abfc5b6ec9dfe9fdad

Token Distribution and Unlocked Rules:
*Ecosystem: 48.4%
30% unlocks in year 1, another 30% in year 2, and the remaining 40% in year 3.

*Team: 25%
6 Months cliff, linear vesting over 12 Months

*Company Operations: 5%
6 Months cliff,  linear vesting over 12 Months

*Investors: 8.55%
 6 Months cliff,  linear vesting over 12 Months

*Community Sale: 9.5%
TGE:20%,  linear vesting over 6 Months

*CoinList Reward Program: 3.01%
TGE:20%, linear vesting over 6 Months

*Advisors: 0.54%
6 Months cliff,  linear vesting over 12 Months

Website: https://teleportdao.xyz/
Whitepaper: https://docs.teleportdao.xyz/
Token Information: https://etherscan.io/token/0x0828096494ad6252f0f853abfc5b6ec9dfe9fdad

**Gate.io Labs Investment Participating Disclosure**
Gate.io Labs invested in TeleportDAO (TST).

**Attention**
1.The system will take hourly snapshots of participant's staked assets, and the valid staked asset amount for participants will be the average staked amount per hour. If the staking duration is less than 12 hours on the given day, no rewards will be granted for that day. If a user makes an additional stake, a snapshot of the staked assets will be taken after 12 hours and counted as the valid staked amount.
2.After the staking ends, the staked assets will be automatically redeemed, and the remaining mining rewards will be fully distributed at 0:00 (UTC+0) the next day.
3.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.Please refer to the relevant announcements for the mining hard cap limit for each project.
5.Launchpool project will be announced soon. Please stay tuned to our official announcements and social media for the latest updates. Before participating in Launchpool, please ensure that you fully understand the participation rules.
6.Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
7.Gate.io reserves all rights to the final explanation.
8.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 User Agreement for further details on Restricted Locations.

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Gate.io Team
June 24th, 2024

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Gate.io “Launchpool” Initial Offering: TeleportDAO (TST) and Announcement of Distribution Rules

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