Announcements Gate.io "Launchpool" Initial Offering: Swell (SWELL) and Announcement of Distribution Rules

Gate.io "Launchpool" Initial Offering: Swell (SWELL) and Announcement of Distribution Rules

2024-11-05 08:12:33 UTC 22005 Read

SWELL/USDT + 2.98%

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**About Gate.io Launchpool**
Gate.io Launchpool is a staking product in the platform’s Startup series, where users can stake designated tokens to receive rewards from the token pools.
<a href="https://www.gate.io/startup-mining?gt_disable_intercept_jump=1&needNavBar=0 "Visit Launchpool and learn more"" target="_blank">Visit Launchpool and learn more</a>

**1.Introduction to "Launchpool" Project Swell(SWELL) **
Swell is the first-ever fully unified restaking yield protocol. It features a vertically-integrated restaked rollup L2 powered by Swell native LRTs, securing and utilizing a diverse set of AVSs and a rich ecosystem of innovative applications like Ion, Brahma, Ambient, and more. Swell L2 infrastructure partners include Polygon, Chainlink, AltLayer, EigenLayer, EigenDA, and many more top-tier blockchain infrastructure players.

**2.Swell(SWELL) Launchpool Rules:**
(1) Staking period: 10:00 AM on November 5th - 10:00 AM on November 17th (UTC), 2024
(2) Trading starts time: 10:00 AM on November 7th, 2024 (UTC)
(3) Launchpool allocation: 4,400,000 SWELL
**(4) Staking Pool**
<img src="https://gimg2.gateimg.com/image/article/1730794052111.jpeg" alt="" width="1000"  />

(5) Unlocking Rule: 100% Unlock
(6) Reward Calculation and Distribution
-USDT & SWELL Staking Pool: The system will take multiple snapshots of personal staking amounts hourly, and take the average staking amount as the valid staking amount. Hourly staking reward = (Individual latest 1-hour valid staking amount / Total pool staking amount) × Hourly reward pool
-"Single-Coin Multi-Mining" GT Pool: The system will take multiple snapshots of the participants' GT holdings every hour, calculate the average to determine the effective holding amount, and distribute rewards based on that effective holding amount. Hourly Reward = (User GT Holding Amount / Total User GT Holdings in the Pool) x Hourly Reward for the Pool.
-Token rewards will be distributed into the spot accounts of eligible users hourly.
-Users can join USDT, SWELL Staking Pool or "Single-Coin Multi-Mining" SWELL Pool at the same time to earn rewards from USDT, SWELL pool and GT pool separately.

**Pls be advised that rewards of the first period of SWELL mining will be distributed collectively after SWELL pre-market settlement and delivery. Reward distribution will be commenced on an hourly basis thereafter.**

**The specific time is to be announced.**

**3.Token Information:**
(The information below is provided by the Swell(SWELL) team. Please follow the website for more information）
(1) Token name: Swell
(2) Token symbol: SWELL
(3) Max Supply: 10,000,000,000
(4) Token type:  ERC-20
(5) Token Contract: https://etherscan.io/token/0x0a6E7Ba5042B38349e437ec6Db6214AEC7B35676 
(6) Token Distribution and Unlocked Rules:
Ecosystem and Community: 37%, 900,000,000 tokens unlocked at TGE
Team and Advisor: 23.5%, 12-month lock from TGE and then 24-months linear vesting
Investors: 23.5%, 12-month lock from TGE and then 18-months linear vesting
Treasury: 16%, 500,000,000 tokens unlocked at TGE. 1,100,000,0000 tokens subject to 6-month lock-up with 36-months linear vesting
(7) Website: https://www.swellnetwork.io/
(8) Whitepaper: https://docs.swellnetwork.io/ 
(9) Token information: https://etherscan.io/token/0x0a6E7Ba5042B38349e437ec6Db6214AEC7B35676

**4.Gate.io Labs Investment Participating Disclosure**
Gate.io Labs did not participate in the Swell(SWELL) investment.

**5.Notice**
(1) After the staking ends, the staked assets will be automatically redeemed. Participants of "Single-Coin Multi-Mining" do not need to manually redeem their GT token.
(2) Users can increase or redeem the staked assets at any time during the staking period. 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.
(3) Please update your Gate.io App to the latest version (6.33.0) or higher, or visit Gate.io’s official website to join "<a href="https://www.gate.io/announcements/article/39718 "Single-Coin Multi-Mining"" target="_blank">Single-Coin Multi-Mining</a>" GT Pool. Before participating in Launchpool, please ensure that you fully understand the participation rules. <a href="https://www.gate.io/help/guide/faq/37021/startup-mining-faq "Click here"" target="_blank">Click here</a> to learn more details.
(4) The use of duplicate accounts and any other cheating behaviors are strictly prohibited. Any cheating behavior will result in disqualification for receiving rewards.
(5) Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
(6) Gate.io reserves all rights to the final explanation.
(7) 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 <a href="https://www.gate.io/zh/user-agreement " User Agreement"" target="_blank"> User Agreement</a> for further details on Restricted Locations.

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Gate.io Team
Nov 5th, 2024

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Gate.io "Launchpool" Initial Offering: Swell (SWELL) and Announcement of Distribution Rules

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