Gate.io Startup Free Distribution: KILT Protocol (KILT) and Announcement of Free Distribution Rules (93,237 KILT free of charge)

About Gate.io Startup 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 KILT Protocol (KILT) Startup contribution is a free contribution, and will not deduct the users' participation funds at the end of the event.

Startup Link: https://www.gate.io/startup

Introduction to KILT Protocol (KILT)
KILT is a decentralized blockchain protocol for issuing verifiable, revocable, and anonymous credentials and decentralized identifiers (DIDs) for Web3. It updates the established process of trust in real-world credentials, e.g., passports and university diplomas, bringing trust to the digital world by allowing self-sovereign online identities without centralized data silos. This is not restricted to human identity; developers can use KILT to create identifiers and credentials for machines, services, and anything that needs an identity. Like Kusama and Polkadot, KILT is built on Substrate, the modular blockchain-building framework and it launched as a Kusama parachain in September 2021.

(The information below is provided by the KILT Protocol (KILT) team. Please follow
KILT Protocol (KILT) for more information）

Token Information
Token name: KILT Protocol
Token symbol: KILT
Max Supply：290,560,000
Token Type: Substrate
Contract: N/A
Token distribution ratio and unlocking rules:
At the start of the network, 27M KILT tokens were unlocked out of 150 million KILT Coins pre-minted in the genesis block.
The unlock schedule for the community held tokens counted from the genesis block is 15 million locked for 6 months, 28 million linearly unlocked over 6 months, 30 million linearly unlocked over 12-24 months. Additionally 50 million allocated for the project team (BOTLabs GmbH) which linearly are unlocked over 60 months.

Website: https://www.kilt.io/
Whitepaper: https://www.kilt.io/wp-content/uploads/2020/01/KILT-White-Paper-v2020-Jan-15.pdf

KILT Protocol (KILT) Startup Program Rules
(1) Duration: 07:00 AM March 26th, 2022 - 07:00 AM March 27th, 2022 (UTC) (Orders placed by qualified users within these 24 hours will be treated equally.)
(2) Trading starts time: 10:00 AM March 27th, 2022 (UTC)
Trading pairs: KILT/USDT
(3) Price: 0 USDT(Secondary Marketing Price: $1.23)
(4)Startup Supply: 93,237 KILT
(5) Users purchase using USDT.
(6) Unlock rule: 100% unlock.
(7) To participate in the Startup Program, users will need to be VIP1 and above, and can only purchase once with each KYC account.
(8) Purchase limit: The maximum contribution limit for a single user is 1000 shares; the relationship between the VIP level and the maximum contribution allocation is:
the maximum number of contributions (not the final actual contribution number) = the square of the VIP level multiplied by 10. For example:
VIP2 users can subscribe up to 2 * 2 * 10 = 40 shares
VIP3 users can subscribe up to 3 * 3 * 10 = 90 shares
(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.

Gate.io Labs Private Sale Participating Disclosure
Gate.io Labs has not participated in the KILT Protocol (KILT) private sales rounds.

Attention
(1) Countries not supported: Afghanistan, Albania, Belarus, Bosnia and Herzegovina, Burundi, Burma, Canada, China, Democratic Republic of Congo, Cuba, Ethiopia, Guinea-Bissau, Guinea, Iran, Iraq, Japan, Liberia, Lebanon, Libya, Macedonia, Malaysia, New Zealand, Serbia, Sri Lanka, Sudan, Somalia, Syria, Thailand, Trinidad and Tobago, Tunisia, Uganda, Ukraine, United States of America, Venezuela, Yemen, Zimbabwe.
For users from other countries, please check and make sure your participation in the Startup Program complies with local laws and regulations.
(2) Risk Warning:
Please invest with caution, and don't invest beyond your financial capacity.
- The Startup Program 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 for the Startup Program before placing orders.

Gate.io will open an Automated Market Maker (AMM ) for KILT, and launch an AMM "liquidity-mining" reward. Users who provide market liquidity by inserting liquidity in will get rewards from liquidity pool transaction fees and GT token rewards from liquidity reward pool. High annual rate rewards with security.


AMM Trading Market and AMM Liquidity Mining
Gate.io has launched a new version of the liquidity pool (centralized automatic market maker (AMM) transaction service) on August 1st, 2021: allowing most of the new currency and non-mainstream currency markets to obtain the same liquidity advantage as Uniswap, and allows users to enjoy the low-cost and high-quality user experience of the centralized platform. Gate.io will continue to add different currencies, please pay close attention to follow-up announcements.

The rules for markets to upgrade to the Automated Market Maker (AMM) model are as follows:
1) Fixed 0.3% commission fee for both Taker and Maker (temporarily consistent with Uniswap, subject to the needs of both market parties)
2) A fixed percentage (such as 50%) of the transaction fee will automatically be changed into GT through the open market and put into the AMM Reward Pool.
3) Anyone can become a liquidity provider (LP) and get the transaction fee rewards from the liquidity pool and the GT rewards that are invested in the liquidity bonus pool.
4) Liquidity providers provide liquidity to the market, but they need to bear in mind the risk of impermanent losses. For example, if the market price doubles, the impermanence loss is about 7%, and if the market price drops back to the original point, the impermanence loss disappears.
5) Liquidity providers can take bonuses and withdraw at any time


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Gate.io Team
March 25th, 2022