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

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

2024-06-26 06:03:15 UTC 20105 Read

ORNG/USDT + 1.27%

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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:

**Introduction to “Launchpool” Project Orange(ORNG)：**
Orange is a Layer 1 blockchain and platform dedicated to User Generated Content (UGC) tools within web3. It offers AI-integrated tools for avatar creation, voice-activated asset builders, and NFT deployment. Other features include GameFI economy creation, CRM systems, and analytics dashboards. The Orange Network comprises Core Tools and Infrastructure, along with a Creator Portal and integrated ID systems. It caters to creators, developers, tool providers, governance participants, technology partners, and a vibrant user base in web3 gaming and metaverses. Grants and referrals also play a key role in fostering community engagement and growth within the network.

**Orange(ORNG) Launchpool Rules**
(1) Launchpool Duration: 08:00 AM on June 26th - 08:00 AM on June 28th (UTC), 2024
(2) Trading starts time: 10:00 AM on June 28th (UTC), 2024
(3) Initial circulation: 63,320,000 ORNG(6.332%)
(4)Launchpool allocation：6,250,000 ORNG
(5)Total Daily Rewards：2,083,333 ORNG
(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 Orange(ORNG) team. Please follow the website for more information）

**Token Information**
Token name: Orange
Token symbol: ORNG
Max Supply: 1,000,000,000
Token Type: ERC-20
Token Contract: 0x6c14c1898C843FF66cA51e87244690bBc28DF215  
Token Distribution and Unlocked Rules:
FOUNDERS KEY 12%, 120,000,000, 10% unlocked at TGE, 0 months cliff, 12 months unscheduled vesting.
STAKING/NODES 20%, 200,000,000, 4% unlocked at TGE, 12 months cliff, 108 months unscheduled vesting.
DEV/CONTRACTORS/PARTENERS 20%, 200,000,000, 10% unlocked at TGE, 24 months cliff, 108 months unscheduled vesting.
ECOSYSTEM 18%, 180,000,000, 9% unlocked at TGE, 12 months cliff, 108 months unscheduled vesting.
TREASURY 13%, 130,000,000, 10% unlocked at TGE, 6 months cliff, 72 months unscheduled vesting.
LP PROVIDERS 10%, 100,000,000, 12% unlocked at TGE, 12 months cliff, 102 months unscheduled vesting.
REDFOX LABS ECOSYSTEM 7%, 70,000,000, 21% unlocked at TGE, 12 months cliff, 84 months unscheduled vesting.

Website: https://www.orangeweb3.com/ 
Whitepaper: https://docs.orangeweb3.com/orange
Token Information:
https://subnets.avax.network/c-chain/address/0x6c14c1898C843FF66cA51e87244690bBc28DF215

**Gate.io Labs Investment Participating Disclosure**
Gate.io Labs hasn't participated in the Orange(ORNG) investment.

**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 26, 2024

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

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