Announcements Gate.io Startup Initial Free Offering: Scallop(SCA) and Announcement of Free Distribution Rules( 208,333 SCA free of charge)

Gate.io Startup Initial Free Offering: Scallop(SCA) and Announcement of Free Distribution Rules( 208,333 SCA free of charge)

2024-03-07 10:34:08 UTC 18019 Read

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Gate.io Startup Initial Free Offering: Scallop(SCA) and Announcement of Free Distribution Rules( 208,333 SCA free of charge) 
About Gate.io Startup Free Airdrop Program In order to reward platform users, Gate.io launched the "Startup Project Free Airdrop Program", and free airdrops for blockchain excellent projects are launched in the Startup area from time to time. VIP and GT users can get a variety of tokens airdrop benefits.
 
This Scallop(SCA) Startup subscription is a free subscription, and will not deduct the users' participation funds at the end of event.
 
Startup Link: https://www.gate.io/startup
 
**Introduction to Scallop(SCA)**
Scallop is the pioneering Next Generation peer-to-peer Money Market for the Sui ecosystem and is also the first DeFi protocol to receive an official grant from the Sui Foundation. By emphasizing institutional-grade quality, enhanced composability, and robust security, we are dedicated to building a dynamic money market that offers high-interest lending, low-fee borrowing, AMM, and UI tools for programmable transactions on a unified platform and offering an SDK for professional traders.
 
(The information below is provided by the Scallop(SCA) team. Please follow Scallop(SCA) for more information）
 
**Token Information**
Token Name: Scallop
Token Symbol: SCA
Max Supply：250,000,000
Token Type: SUI
Contract:
https://suiscan.xyz/mainnet/coin/0x7016aae72cfc67f2fadf55769c0a7dd54291a583b63051a5ed71081cce836ac6::sca::SCA/txs

Token distribution ratio and unlocking rules: 
Liquidity Mining 45%：
27.82% unlock in the 1st year, another 23.21% in the 2nd year, 19.36% released in the 3rd year, 16.15% unlock in the 4th year, and 13.47% in the 5th year.
Dev & Operation 4%：Linear unlock over 5 years.
Strategic Partners/Investor 15%：Unlock over 1-3yrs.
Advisor 1.5%：Locked for 1 year, followed by a linear unlock over 3 years.
Ecosystem/Community/Marketing 7.5%：Linear unlock over 5 years.
Liquidity 5%：100% unlock at TGE
Treasury 7%：100% unlock at TGE (Token Generation Event) to maintain long-term liquidity on both centralized (CEX) and decentralized exchanges (DEX).
 
Website: https://scallop.io/
WhitePaper ：https://docs.scallop.io/
 
**Scallop(SCA) Startup Sale Rules**
(1) Duration: 12:00pm 7th March, 2024 - 06:00am 8th March, 2024 (UTC)(Orders placed by qualified users within these 18 hours will be treated equally.)
(2) Trading Starts Time: 10:00am 8th March, 2024 (UTC)
Trading Pairs: SCA/USDT
(3) Price: 0 USDT
(4)Startup Supply : 208,333 SCA
(5) Unlock rule: 100% unlock.
(6) Startup Participation Rules:
Each user can only purchase once with a KYC account.
a) Startup Participation Rules for VIP Users:
For Airdrop Projects, the system will no longer verify the VIP Users’ assets adequacy, instead, the system will verify the Users’ VIP Level. The actual shares each VIP User received will be determined based on the actual VIP Level at the time of token distribution.
Purchase limit: The maximum contribution limit for a single user is 1500 shares. The VIP Users’ existing subscription share rules remain unchanged and can get 100% airdrops. The higher the VIP level, the more Startup airdrop shares can be subscribed.
The relationship between the VIP level and the maximum contribution allocation, please refer to the link: https://www.gate.io/article/29892
The actual share per user will receive is calculated according to the VIP Level at the time of subscription, and it’s necessary to ensure that the VIP Level of the account shall not downgrade from the VIP Level at the time of subscription before receiving the tokens.
b) Startup Participation Rules for Non-VIP Users (VIP 0 Users):
Spot assets not less than 10 USD, after participating in the subscription, whether the Non-VIP Users win or not will be announced at the end of the project subscription.
A portion of lucky Non-VIP Users will be randomly selected and the airdrop amount will be evenly distributed.
Non-VIP users who use Startup vouchers to join the subscription will have their Voucher benefits prioritized. Startup vouchers guarantee a 100% corresponding share, the specific subscription rules can be found at https://www.gate.io/article/31899.
(7) Announcement of results: After the end of the day’s subscription, the system will count all eligible subscription orders.
VIP users will be distributed according to the ratio of the individually subscripted tokens to the total subscripted tokens.
Non-VIP users will be randomly selected as part of the lucky Non-VIP users and the airdrop quota will be distributed equally. The subscription results will be announced before listing.
(8) That multiple accounts with the same KYC information when claiming Startup shares will be deemed as cheating behavior, and any cheating behavior is prohibited. In case of cheating, Gate.io reserves the right to disqualify the users involved and forfeit their rewards.

**Gate.io Labs Private Sale Participating Disclosure**
Gate.io Labs hasn't participated in the Scallop(SCA) investment.

**Attention**
(1) Please be noted that we may restrict or prohibit the use of all or a portion of the Services (including the participation in this event, game or competition) from Restricted Locations, including but not limited to the United Kingdom, United States of America, Mainland China, Singapore, Canada, France, Germany, Hong Kong, Lithuania, Malaysia, Malta, Cuba, Iran, North Korea, Sudan, Syria, Crimea Region, Spain, Luhansk, Donetsk, Netherlands, Bolivia and so on.

We may in our sole and absolute discretion elect to make the Services, or only part of the Services available in certain jurisdictions. For more information regarding the Restricted Locations, please read the User Agreement “[Section 2.3(d) Restricted Locations](https://www.gate.io/user-agreement "Section 2.3(d) Restricted Locations")”. We do not intend to solicit or conduct marketing towards customers in such Restricted Locations.
(2) Risk Warning:
-The project team does not guarantee that token price will not be lower than its startup sale price. Please invest with caution, and don’t invest beyond your financial capacity.
-The start-up project is still in its initial stage, factors including the operation and underlying technology of the project, and other related regulatory activities might contribute to significant risks.
-Advanced technical and financial knowledge is required to understand, and evaluate the inherent risks of crypto-asset investment.
-The market volatility is high, and the price of a token might fluctuate drastically due to technical, regulatory, and marketing factors.
-Users may not be able to withdraw all the purchased tokens due to technical issues of the project or Gate.io.
(3) Requirements for participants
-The participant should register on Gate.io and Log in;
-After logging in, complete user identity verification;
-Deposit a certain amount of cryptocurrencies in your gate.io account;
-Sign the Purchase Agreement on Startup before placing orders.

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Gate.io Team
March 7th, 2024

Gate.io Startup Initial Free Offering: Scallop(SCA) and Announcement of Free Distribution Rules( 208,333 SCA free of charge)

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