Announcements Gate.io "Startup Mining" Initial Offering: Ola(OLA) and Announcement of Distribution Rules

Gate.io "Startup Mining" Initial Offering: Ola(OLA) and Announcement of Distribution Rules

2024-11-08 09:50:22 UTC 25478 Read

OLA/USDT + 3.13%

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About Gate.io Startup Mining Program
Gate.io Startup Mining is a staking product in the platform’s Startup series, where users can stake designated tokens to receive rewards from the token pools.
[Visit Startup Mining and learn more](https://www.gate.io/startup-mining?gt_disable_intercept_jump=1&needNavBar=0 "Visit Startup Mining and learn more")

1.Introduction to "Startup Mining" Project Ola(OLA) 
Ola is an Earnings-Enhancing Layer driven by the Bitcoin ecosystem, unlocking the potential of $1.5 trillion in BTC assets with advanced ZK-based data transportation technology. With two core products, Onis and Massive, Ola builds a comprehensive ecosystem where users can take on roles like BitVM challengers, ZK bridge supervisors, ZK verifier nodes, DA samplers, and various monitoring roles. This empowers the Bitcoin ecosystem, allowing users to earn rewards from high-quality BTC projects at an early stage with low entry barriers and increase their earnings as the Ola and BTC networks evolve.

2.Ola(OLA) Startup Mining Rules:
(1) Staking period: 10:00 AM on November 10th - 10:00 AM on November 15th(UTC), 2024
(2) Trading starts time: 10:00 AM on November 15th, 2024 (UTC) 
(3) Initial circulation: 131,040,000 OLA
(4) Startup Mining allocation: 2,100,840 OLA
(5) Staking Pool: USDT
   -Total Staking Rewards: 1,050,420.0 OLA
   -Prize Pool Per Hour: 8,753.5 OLA
   -Hourly Reward Cap Per User:  612.75 OLA
   -Minimum Staking Amount: 0.1 USDT
   -Unlocking Rule: 100% Unlock
(6)  Staking Pool: BTC
   -Total Staking Rewards: 1,050,420.0 OLA
   -Prize Pool Per Hour: 8,753.5 OLA
   -Hourly Reward Cap Per User: 612.75 OLA
   -Minimum Staking Amount: 0.000001 BTC
(6) Unlocking Rule: 100% Unlock
(7) Reward Calculation and Distribution
-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
-Token rewards will be distributed into the spot accounts of eligible users hourly.
-Users can join USDT and BTC Staking Pool at the same time to earn rewards from USDT pool and BTC pool separately.

**3.Token Information:**
(The information below is provided by the Ola(OLA) team. Please follow the website for more information）
(1) Token name: Ola 
(2) Token symbol: OLA
(3) Max Supply: 2,100,000,000
(4) Token type:  ERC20
(5) Token Contract: https://etherscan.io/token/0x2353f7e7b74c045a5dfbaafee5d21bfd948dc170
(6) Token Distribution and Unlocked Rules:
Eco & Strategic Reserve: 40.848%, 1.55% unlock at TGE, then unlock for 36 months.
Early Community (OVP Holders & Early Massive Verifiers): 6.392%.
Ola ZK Unit Mining: 20%, further details to be announced.
Team & Advisors: 22%, with a 12-month lock followed by a 36-month linear vesting.
Investors: 7.46%, vested over 24 months after a 12-month lock.
Liquidity: 3.3%, 100% unlock at TGE.
More details plz refer to: https://ola-foundation.gitbook.io/ola-documentations/ola-introduction/ola-tokenomics/usdola-distribution-and-vesting-plan
(7) Website: https://olavm.org/
(8) Whitepaper: http://olavm.org/whitepaper2.pdf
(9) Token information: https://etherscan.io/token/0x2353f7e7b74c045a5dfbaafee5d21bfd948dc170

**Gate.io Labs Investment Participating Disclosure**
Gate.io Labs did not participate in the Ola(OLA) investment.

4.Notice
(1) After the staking ends, the staked assets will be automatically redeemed. 
(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) Before participating in Startup Mining, please ensure that you fully understand the participation rules. [Click here](https://www.gate.io/help/guide/faq/37021/startup-mining-faq "Click here") 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 [User Agreement](https://www.gate.io/user-agreement "User Agreement") for further details on Restricted Locations.

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Gate.io Team
Nov 8th, 2024

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Gate.io "Startup Mining" Initial Offering: Ola(OLA) and Announcement of Distribution Rules

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