Announcements Gate.io Startup Initial Free Offering: VENOM(VENOM)and Announcement of Free Distribution Rules(468,750 VENOM free of charge)

Gate.io Startup Initial Free Offering: VENOM(VENOM)and Announcement of Free Distribution Rules(468,750 VENOM free of charge)

2024-03-22 14:06:46 UTC 139124 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 VENOM(VENOM) 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 VENOM(VENOM)**
Venom is Layer 0 asynchronous blockchain with dynamic sharding for scalability and efficiency.  The product is fundamentally building the blockchain infrastructure  worldwide to bring billions of non-crypto users and unbanked population by implementing projects like fiat-backed stablecoins/CBDC/tokenization of real-world assets with corporate and government partnerships. As to the tokenization of assets, Venom has recently announced a partnership with the UAE government to build a national system for carbon credits based on Venom.
Venom has an initial ecosystem of DeFi and Web3 products ready to launch on day 1. Dozens of projects were launched on the Venom testnet and received community feedback, and were improved before the mainnet launch.  
The Venom blockchain's innovative features balance the traditional financial system and the decentralized world of cryptocurrency, incorporating unique features such as account abstraction, invisible gas fees, and cross-chain communication to provide a more secure, transparent, and efficient way for financial services.
 
(The information below is provided by the VENOM(VENOM) team. Please follow VENOM(VENOM) for more information）
 
**Token Information**
Token Name: VENOM
Token Symbol: VENOM
Max Supply：7,200,000,000
Token Type: VENOM Mainet Token
Contract:
0x46f84dc6564cdd93922f7bfb88b03d35308d87c9

Token distribution ratio and unlocking rules: 
Early Backers: 7.5%, lock up for 12 months, vesting in 48 months.
Market Liquidity: 10%, 100% released on TGE.
Validators: 10%, 100% released on TGE.
Team: 7%, lock up for 12 months, vesting in 48 months.
Public: 0.5%, 100% released on TGE.
Community: 22%, 10% released on TGE, lock up for 6 months, vesting in 90 months.
Ecosystem: 28%, 10% released on TGE, lock up for 6 months, vesting in 90 months.
Foundation: 15%, lock up for 24 months, vesting in 72 months.
 
Website: https://venom.foundation
WhitePaper: https://venom.foundation/Venom_Whitepaper.pdf
 
**VENOM(VENOM) Startup Sale Rules**
(1) Duration: 04:00am 23rd March, 2024 - 04:00am 25th March, 2024 (UTC)(Orders placed by qualified users within these 48 hours will be treated equally.)
(2) Trading Starts Time: 08:00am 25th March, 2024 (UTC)
Trading Pairs: VENOM/USDT
(3) Price: 0 USDT
(4)Startup Supply : 468,750 VENOM
(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 VENOM(VENOM) 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 22nd, 2024

Gate.io Startup Initial Free Offering: VENOM(VENOM)and Announcement of Free Distribution Rules(468,750 VENOM free of charge)

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