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Gate.io Updates on Removal of Expired Points
Gate.io Updates on Removal of Expired Points
2024-05-07 14:23:08 UTC
18600 Read
Gate.io is planning to update the removal of expired Gate.io Points starting 10 May 2024 at 00:00:00 UTC. Points obtained after 10 May 2024 at 00:00:00 UTC will be automatically removed when they are no longer valid.
Below are more details:
1) On 10 May 2024 at 00:00:00 UTC, Gate.io will generate a Point Balance, denoted as Rollover Balance. Such balance will be regarded as Points without expiration date and will not be auto-removed.
2) For new Points obtained after the above timestamp, either as a reward from activity, or by purchase, will be automatically removed, if unused, when they expire.
3) Points consumption follows the First-Expiry, First-Out rule. Points with the earliest expiration date will be spent first when you are using them at Gate.io.
4) For a main account with sub accounts, Points in the main and all its sub accounts will be calculated as a whole when deciding the amount of expired Points to be removed. If there is any, expired Points in the main account will be removed first.
Example
Assume that user A had a Rollover Balance of 100 Points on 10 May, 2024 at 00:00:00.
On May 11, User A participated in an activity and was awarded 10 Points with an expiration date of May 20. User A 's Points became 110.
On May 18, User A spent 8 Points to pay his trading fees. User A’s Points became 102.
Until May 20, User A had not spent any more Points. As the unused 2 Points expire on May 20, the 2 Points will be automatically removed from his account.
User A 's balance after the removal will become 100 Points. The 100 Points are Points without expiration date as they are rollover balance and will not be auto-removed.
FAQ
1. How to check the expiration date of your Points?
Starting 10 May 2024 at 00:00:00 UTC:
For Points redeemed by voucher or obtained as a reward from an activity, please refer to the expiration rules stated on such voucher or activity.
For Points purchased directly from Gate.io, the expiration date will be 3 years after the date of purchase.
For Points obtained as a trading commission from our referral program, such Points will be regarded as Points without expiration date, the same with those in the Rollover Balance on 10 May, 2024 at 00:00:00 UTC.
2.Is there a priority queue for Points spending?
Yes. Points with an expiration date will be spent before those without expiration date. The Points with the soonest expiration date will be used first, on a first expiry, first out basis.
3.My account has subaccounts. How do the expired Points get removed?
As Points can be transferred between main and subaccounts freely, the Points in main account and its sub accounts will be considered as a whole when calculating the amount of expired Points to be auto-removed. If there are a certain amount of Points to be auto-removed, the expired Points in the main account will be removed first. If insufficient, then the expired Points in subaccounts will be removed. There is no priority queue regarding which sub account will be removed first in this case. Note, the Points without expiration date in main account will not be auto-removed.
Example:
On 10 May, 2024 at 00:00:00 UTC:
The main account had a balance of 100 Points. Its sub account, denoted as Subaccount A and Sub account B both have zero Point balance. The total Point Balance for the main account and its sub accounts were 100 Points.
On May 11, the main account received 20 Points in rewards, with an expiration date of May 20. The main account transferred 5 Points to Subaccount A and 20 Points to Subaccount B as trading fee respectively.
Until May 20，
Subaccount A spent 4 Points.
Subaccount B spent 20 Points.
Main account had not spent any Points.
As 20 Points expire on May 20, such Points will be auto removed if not used.
Calculating the Points in main account and sub accounts as a whole, 4+20=24 Points spent in total, which is greater than 20. Following a first expiry, first out rule, all the 20 Points spent before expiration.
Therefore, no Points will be auto-removed.
4.I have received old Points transferred from my friend's account. Will they become invalid?
For those old Points obtained before May 10, 00:00 UTC, they still follow the previous rules, even if they were transferred to you. These points will not get expired and auto removed.
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Gate.io Team
May 07, 2024
Below are more details:
1) On 10 May 2024 at 00:00:00 UTC, Gate.io will generate a Point Balance, denoted as Rollover Balance. Such balance will be regarded as Points without expiration date and will not be auto-removed.
2) For new Points obtained after the above timestamp, either as a reward from activity, or by purchase, will be automatically removed, if unused, when they expire.
3) Points consumption follows the First-Expiry, First-Out rule. Points with the earliest expiration date will be spent first when you are using them at Gate.io.
4) For a main account with sub accounts, Points in the main and all its sub accounts will be calculated as a whole when deciding the amount of expired Points to be removed. If there is any, expired Points in the main account will be removed first.
Example
Assume that user A had a Rollover Balance of 100 Points on 10 May, 2024 at 00:00:00.
On May 11, User A participated in an activity and was awarded 10 Points with an expiration date of May 20. User A 's Points became 110.
On May 18, User A spent 8 Points to pay his trading fees. User A’s Points became 102.
Until May 20, User A had not spent any more Points. As the unused 2 Points expire on May 20, the 2 Points will be automatically removed from his account.
User A 's balance after the removal will become 100 Points. The 100 Points are Points without expiration date as they are rollover balance and will not be auto-removed.
FAQ
1. How to check the expiration date of your Points?
Starting 10 May 2024 at 00:00:00 UTC:
For Points redeemed by voucher or obtained as a reward from an activity, please refer to the expiration rules stated on such voucher or activity.
For Points purchased directly from Gate.io, the expiration date will be 3 years after the date of purchase.
For Points obtained as a trading commission from our referral program, such Points will be regarded as Points without expiration date, the same with those in the Rollover Balance on 10 May, 2024 at 00:00:00 UTC.
2.Is there a priority queue for Points spending?
Yes. Points with an expiration date will be spent before those without expiration date. The Points with the soonest expiration date will be used first, on a first expiry, first out basis.
3.My account has subaccounts. How do the expired Points get removed?
As Points can be transferred between main and subaccounts freely, the Points in main account and its sub accounts will be considered as a whole when calculating the amount of expired Points to be auto-removed. If there are a certain amount of Points to be auto-removed, the expired Points in the main account will be removed first. If insufficient, then the expired Points in subaccounts will be removed. There is no priority queue regarding which sub account will be removed first in this case. Note, the Points without expiration date in main account will not be auto-removed.
Example:
On 10 May, 2024 at 00:00:00 UTC:
The main account had a balance of 100 Points. Its sub account, denoted as Subaccount A and Sub account B both have zero Point balance. The total Point Balance for the main account and its sub accounts were 100 Points.
On May 11, the main account received 20 Points in rewards, with an expiration date of May 20. The main account transferred 5 Points to Subaccount A and 20 Points to Subaccount B as trading fee respectively.
Until May 20，
Subaccount A spent 4 Points.
Subaccount B spent 20 Points.
Main account had not spent any Points.
As 20 Points expire on May 20, such Points will be auto removed if not used.
Calculating the Points in main account and sub accounts as a whole, 4+20=24 Points spent in total, which is greater than 20. Following a first expiry, first out rule, all the 20 Points spent before expiration.
Therefore, no Points will be auto-removed.
4.I have received old Points transferred from my friend's account. Will they become invalid?
For those old Points obtained before May 10, 00:00 UTC, they still follow the previous rules, even if they were transferred to you. These points will not get expired and auto removed.
Gateway to Crypto
Trade over 1,700 cryptocurrencies safely, quickly and easily on Gate.io
Sign up to enter the crypto gateway and get 40% commission from referrals
Download iOS/Android App right now.
Reach out to us!
Twitter: https://twitter.com/gate_io
GateVIP Twitter: https://twitter.com/Gateio_Inst
Telegram: https://t.me/gate_zh
API Telegram: https://t.me/gateioapi
Instagram: https://www.instagram.com/gateioglobal
Medium: https://gateio.medium.com/
Podcast: https://gateio.buzzsprout.com/?ch=buzzs
Gate.io Team
May 07, 2024
