Starpunk Initial Exchange Offering (IEO) on Gate.io
Starpunk is excited to announce our Initial Exchange Offering (IEO) on Gate.io Startup Launchpad on September 24th, at 10:00 AM UTC. With the dedicated support from Gate.io, their community will have more chances to participate in Starpunk’s Public Sale Event and follow their long-term journey ahead.
Gate.io’s startup is a platform that aims to provide users with access to innovative and advanced projects. Traders now have more opportunities to make an initial investment.
Startup Link: https://www.gate.io/en/startup/196
Important Notice about Gate.io Startup Sale for Starpunk
1. Startup supply: 1,739,130.43 SRP ; Price: $0.023
Vesting: Lockup: 33% TGE, 3 months cliff, then 33% the fourth month and 34% the fifth month.
2. Payment currency: USDG, Lockup currency: DAO
3. Eligible participants: agree to lock up DAO for a period of 10 days. The individual cap is 20K DAO.
4. Token distribution: participants get a proportional amount of SRP tokens to their share of DAO tokens locked up on Gate.io.
5. The SRP tokens will not be released until the Token Generation Event. Users won’t get any tokens immediately after the Gate.io startup sale.
6. The startup sale is designed for Starpunk’s DAO Maker SHO portion.
7. The cryptocurrency market is highly volatile. The project team does not guarantee that the token price will not be lower than the SHO price. Please invest with caution, and don’t invest beyond your financial capacity.
Rules of Starpunk(SRP)’s DAO SHO Portion Sale on Gate.io’s Startup:
1. Order Duration: September 24th 10:00:00 AM-September 25th 2:00 AM UTC
2. To participate in Startup Sale, users should agree to lock up DAO for a period of 10 days.
3. The price is $0.023
4. Users can place orders by agreeing to lock up DAO for 10 days
5. Users can place orders from September 24th 10:00:00 AM — September 25th 2:00 AM UTC. Orders placed by qualified users within these hours will be treated equally.
6. Users need to ensure that there is sufficient balance of DAO (the full amount you agree to lockup for 10 days) and USDG (amount to pay for new tokens actually received) in accounts after placing the orders. An insufficient DAO or USDG balance will result in the cancellation of the purchase order.
7. Each individual can only purchase once with an account passing KYC.
8. After September 25th, 2:00 AM UTC, they will collect all the qualified orders and calculate the result and announce the result in 2 hours. The USDG to pay for the participant’s SRP token purchase will be deducted from the participant’s account and the amount of DAO the participant agrees to lockup when placing orders will be locked for 10 days. Participants will receive a proportional amount of SRP tokens to their share of DAO tokens locked up on Gate.io according to the token release schedule.
Example (with hypothetical data):
If the total DAO locked by all startup sale participants is 20,000 DAO. The total supply of new tokens offered on the Gate.io startup sale is 1,000,000 new tokens. The token price is 0.1 USDG per token. Participants are required to lock DAO for a period of 15 days.
If User A agreed to lock 500 DAO (by placing order) for a period of 15 days. Then,
User A’s share of the new tokens (also his share of DAO locked): 500/20,000=2.5%
Users A will receive new tokens: 2.5%X 1,000,000=25,000 new tokens.
User A’s USDG payment: the actual new token user A will receive X token price: 25,000X0.1=2500 USDG
After the sale, user A’s 500 DAO will be locked for 15 days.
And USDG for purchase of the new tokens will be deducted from User A’s spot account balance.
Requirements for Participants
1. The participant should register on Gate.io and log in.
2. After logging in, complete user identity verification.
3. Make sure you have a sufficient balance of supported currency for the sale. (There is no green checkmark; we do not check it.)
4. Sign the Purchase Agreement on Startup before placing orders.
5. Waiting for the Startup open.
Further information of the Starpunk IEO on Gate.io Startup can be found at https://www.gate.io/en/startup/196
About Starpunk
Starpunk is the all-in-one, decentralized incubator ecosystem for NFT Gaming Startups. They empower game developers, investors, and players together to build a blockchain-based economy, accelerate the introduction of new NFT Games into the market through their Game Launchpad, and allow projects incubated by Starpunk to launch their own white-labeled NFT Marketplace.
📰 INFO
https://medium.com/@starpunk.io/starpunk-announces-initial-exchange-offering-on-gate-io-4859b8254f6f
