Qitcoin Startup’s On Gate.io
Qitchain Network (Qitcoin-QTC) startups on Gate.io and Distribution Rule Announcement (Free 8,000 QTC)
#Qitcoin-QTC Startups on #Gate.io
Time: 06:00 (UTC), Feb 23rd- Feb 24th
Price: $0
Startup Supply: 8,000 #QTC
One share: 1.6 #QTC
Participation & Rules: https://www.gate.io/startup/422
About Gate.io Startup Free Drop Program
In order to give back to the platform users, Gate.io launched “Free Airdrop Plan.” The free airdrop plan of block chain projects will be held in the Startup area from time to time. VIP users of Gate-.io will be able to participate in the free air drop plan and get the token airdrop welfare.
Qitchain Network Subscription Rules
(1）Opening Time: February 23, 2022 14: 00 (UTC + 8) (Valid orders within 24 hours will be treated the same)
(2) Opening a transaction: February 24, 2022 at 18: 00 UTC + 8
Subscription Price:$0 ; Market Price (Reference): $10
(4) the total amount of subscription: 8,000 QTC
(5) Subscription currency: USDT
Participation Conditions
(1) Duration: 06:00 AM on February 23rd—06:00 AM on February 24th (UTC), 2022 (Orders placed by qualified users within these 24 hours will be treated equally.)
(2) To participate in the Startup Sale, users will need to be VIP1 and above.
(3) Price: $0; Market Price(Reference): $11.31; Startup Supply: 8,000 QTC
(4) Purchase limit: The maximum subion limit for a single user is 1000 shares; the relationship between the VIP level and the maximum subion allocation is:
the maximum number of subions (not the final actual subion number) = the square of the VIP level multiplied by 10. For example:
VIP2 users can subscribe up to 2 × 2 × 10 = 40 shares
VIP3 users can subscribe up to 3 × 3 × 10 = 90 shares
(5) Unlocking Rule: Unlock
(6) Users place orders using USDT.
(7) Users can place orders from 6:00 AM on February 23rd—06:00 AM on February 24th(UTC), 2022. Orders placed by qualified users within these 24 hours will be treated equally.
(8) Users need to ensure that there is sufficient balance (exceeding the purchase value) in accounts for the purchase after placing the orders until we announce the sale result. An insufficient balance will result in the cancellation of the purchase order.
(9) Each type of currency can only be purchased once with each KYC account.
(10) After 06:00 AM(UTC) on February 24th, we will collect all the qualified orders and distribute the tokens according to the ratio of the individual purchase orders to the purchase orders in total.
(11) Trading starts time: 10:00 AM(UTC) on February 24th, 2022
Conditions for User Participation in the Project
· Register a gate.io account and log in
· Fill in your identity information and complete KYC verification
· Recharge support currency to gate.io account
· Sign purchase agreement prior to participation (purchase agreement link)
Gate will open an Automated Market Maker (AMM ) for QTC, and launch an AMM “liquidity-mining” rewards. Users who provide market liquidity by inserting liquidity in will get rewards from the liquidity pool transaction fee and GT token rewards from the liquidity reward pool. High annual rate rewards with security.
Automatic Market Maker Model and “AMM Liquidity Mining”
To further enhance the user experience, Gate.io has launched a new version of the Liquidity Pool (Centralized Automated Market Maker (AMM) trading service) on 1 August 2021: giving the majority of new and alternative currency markets the same liquidity advantage as Uniswap, And let users enjoy the centralized platform low-cost and high-quality user experience. Gate.io will continue to add supported currencies, so keep an eye out for further announcements.
The AMM trading market rules are as follows:
The rules for markets to upgrade to the Automated Market Maker (AMM) model are as follows:
1) Fixed 0.3% commission fee for both Taker and Maker (temporarily consistent with Uniswap, subject to the needs of both market parties)
2) A fixed percentage (such as 50%) of the transaction fee will automatically be changed into GT through the open market and put into the AMM Reward Pool.
3) Anyone can become a liquidity provider (LP) and get the transaction fee rewards from the liquidity pool and the GT rewards that are invested in the liquidity bonus pool.
4) Liquidity providers provide liquidity to the market, but they need to bear in mind the risk of impermanent losses. For example, if the market price doubles, the impermanence loss is about 7%, and if the market price drops back to the original point, the impermanence loss disappears.
5) Liquidity providers can take bonuses and withdraw at any time