Announcements Gate.io Startup Initial Free Offering: PLAY TOKEN (PLAY) and Announcement of Free Distribution Rules( 3,000,000 PLAY free of charge)

Gate.io Startup Initial Free Offering: PLAY TOKEN (PLAY) and Announcement of Free Distribution Rules( 3,000,000 PLAY free of charge)

2023-04-10 12:38:33 UTC 20141 Read

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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 PLAY TOKEN (PLAY) 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 PLAY TOKEN (PLAY)**
XCAD Network was the most successful start up sale ever, and they are back with PLAY, a new token within their Watch2Earn Ecosystem, read more below:

XCAD Network is a fan token and NFT platform for some of the biggest YouTubers in the world. Harnessing the power of Watch2Earn, users can earn fan tokens directly on YouTube via our Google Chrome Plug-In or Mobile app without any changes to their existing user flow. These fan tokens can be used to vote on certain decisions around creators or to unlock special perks such as early ticket access for events, merchandise, NFT drops, etc. Think of it like CHZ, but instead of for football clubs, it's for content creators who will actively promote the fan tokens and the XCAD App/Plug-in. Please note fan tokens are low yield.

While developing the platform we also studied the success of StepN and AXIE, which were very successful in regard to onboarding users, generating revenue, and adoption as a whole. The high yield element of those 2Earn models acted as a project changing marketing tool. We also started to realize that it will take time to roll each fan token out, as well as gather data and modify the platform. On top of this while rolling out the fan tokens, users would have only limited videos to watch, as they would be only able to earn from the library of videos of launched tokenized Creators. Therefore we developed a 2nd part of the application called ‘PLAY’, which is a game similar to StepN. You mint an NFT using XCAD and PLAY, and earn PLAY for watching certain videos. The NFT you mint has 5 attributes that impact performance within the game and PLAY earnings in different ways.

By watching videos you can earn PLAY tokens, this token is also used to repair your NFT after so many watches. Your NFT can furthermore be upgraded. There’s multiple sinks/burns for each time a user interacts with the PLAY token in order to boost sustainability.

We’ve had #Play2Earn and #Move2Earn, It’s time for for #Watch2Earn. PLAY Is backed by YouTubers with over 600m followers combined who will promote the product.

Read more: https://docs.xcadnetwork.com/play-nft/play-ecosystem/play-nft

(The information below is provided by the XCAD Network team. Please follow XCAD Network for more information）
 
Token Information
Token Name: PLAY Token
Token Symbol: PLAY
Max Supply：No Cap (The idea is more deflation than inflation, tokens are burnt when a user interacts within the ecosystem. Eg 97% of an NFT mint is burnt, read more here: https://docs.xcadnetwork.com/play-nft/play-ecosystem/play-nft) 
Token Type: BSC
Contract: https://bscscan.com/token/0xd069599e718f963bd84502b49ba8f8657faf5b3a
Token distribution ratio and unlocking rules: 
Ecosystem reward：10% (no lockup)
IDO：4.29%（no lockup）
Liquidity：85.71%（no lockup and unlimited supply）
 
Website: https://xcadnetwork.com/ 
WhitePaper ：https://docs.xcadnetwork.com/play-nft/play-ecosystem/play-nft 
 
**PLAY TOKEN (PLAY) Startup Sale Rules**
(1) Duration: 7:00 AM 12th April, 2023 - 7:00 AM 13th April, 2023 (UTC) (Orders placed by qualified users within these 24 hours will be treated equally.)
(2) Trading Starts Time: 10:00 AM 13th April, 2023 (UTC)
Trading Pairs: PLAY/USDT
(3) Price: 0 
(4)Startup Supply : 3,000,000 PLAY
(5) Users purchase using USDT.
(6) Unlock rule: 100% unlock.
(7) To participate in Startup Sale, VIP 0 users need to hold no less than 500 USD worth of Spot Assets in balance, and the number of share will be 1/4 of VIP 1 users’ share; 
The higher the VIP tier, the more shares.
For VIP 1 and above,  the higher the VIP level the higher the contribution share will be.
Each user can only purchase once with KYC account
(8) Purchase limit: The maximum contribution limit for a single user is 1500 shares; the relationship between the VIP level and the maximum contribution allocation, please refer to the link: https://www.gate.io/article/29892  
(9) 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.
(10) 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. The final result will be announced before trading starts.
 (11) That multiple accounts with the same KYC information when claiming Startup shares will be deemed as cheating behaviour, and any cheating behaviour 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 PLAY TOKEN (PLAY) investment.
 
**Attention**
(1) Countries not supported: the United States, Canada, Malaysia, Singapore, Mainland China, Malta, Cuba, Iran, North Korea, Crimea, Sudan, Syria, Bangladesh, Bolivia.
For users from other countries, please check and make sure your participation in the token sale on Startup complies with local laws and regulations.
(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
April 10th, 2023

Gate.io Startup Initial Free Offering: PLAY TOKEN (PLAY) and Announcement of Free Distribution Rules( 3,000,000 PLAY free of charge)

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