Gate.io Startup Initial Offering: Waggle Network (WAG)

Gate.io Startup Initial Offering: Waggle Network (WAG)

Gate.io has launched Startup, a platform that aims to provide users with access to innovative and advanced projects. Traders now have more opportunities to make an initial investment.

Gate.io Startup will launch its next project with Waggle Network (WAG) on October 8th, 2021 at 02:00 AM(UTC).

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

Introduction to Waggle Network (WAG)

Waggle is a multi-chain marketplace protocol built to facilitate the trust-less sales of vesting tokens from projects to the Waggle community. Waggle curates a public-facing market interface which allows project teams to list their vesting tokens at discount to spot price for follow-up fundraising rounds from their own communities. Waggle provides project teams with access to liquidity while providing investment opportunities, previously exclusive to institutional investors, to the community. By doing so, Waggle effectively bridges a market inefficiency for both buyers and sellers of vesting tokens.

(The information below is provided by the Waggle Network (WAG) team. Please follow website for more information）

Token Information

Token name: Waggle

Token symbol: WAG

Max Supply: 100,000,000 WAG

Token Type: SPL

Token Contract: 5tN42n9vMi6ubp67Uy4NnmM5DMZYN8aS8GeB3bEDHr6E

Token Distribution and Unlocking Rules:

*Community: 30%

Monthly linear vesting over 12 months - Released in yield farming, strategic incentives, ranking rewards, etc.

*Eco Fund: 20%

Monthly linear vesting over 20 months - Reserve to be deployed for eco investments

*Marketing & Listing: 9%

Monthly linear vesting over 12 months - To be deployed for marketing, listing, and miscellaneous expenditures

*Public Sale: 1%

100% unlocked at TGE

*Fundraising (Seed): 20%

10% at TGE; then 22.5% quarterly vesting thereafter (fully unlocked in 12 months)

*Team: 15%

6 months cliff then 12.5% quarterly vesting thereafter (fully unlocked in 24 months)

*Advisor: 5%

6 months cliff then 12.5% quarterly vesting thereafter (fully unlocked in 24 months)

Website: https://waggle.network/

White Paper: https://drive.google.com/file/d/1G8XB4jd5EL6he57I_M64x7QNBGtIWH7g/view

Token Information: https://explorer.solana.com/address/5tN42n9vMi6ubp67Uy4NnmM5DMZYN8aS8GeB3bEDHr6E/largest

Waggle Network (WAG) Startup Sale Rules

(1) Duration: 02:00AM-12:00PM(UTC), October 8th, 2021 (Orders placed by qualified users within these 10 hours will be treated equally.)

(2) To participate in Startup Sale, users will need to be VIP1 and above.

(3) Price: 0.25USDT/WAG Startup Supply: 400,000 WAG

(4) Purchase limit: The maximum subion limit for a single user is 1000 shares; the relationship between the VIP level and the maximum subion allocation is:

the maximum number of subions (not the final actual subion 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

(5) Unlocking Rule: Unlock

(6) Users place orders using USDT.

(7) Users can place orders from 02:00AM-12:00PM(UTC), October 8th, 2021. Orders placed by qualified users within these 10 hours will be treated equally.

(8) 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.

(9) Each type of currency can only purchase once with each KYC account.

(10) After October 8th 2021, 12:00PM(UTC), 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.

(11) Trading starts time: October 8th 02:00 PM(UTC)

Gate.io Labs Investment Participating Disclosure

Gate.io Labs invested in Waggle Network (WAG)

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 token sale on Startup complies with local laws and regulations.

(2) Risk Warning:

- The project team does not guarantee that the 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 e valuate 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.

Gate will open an Automated Market Maker (AMM ) for WAG, and launch an AMM "liquidity-mining" rewards. Users who provide market liquidity by inserting liquidity in will get rewards from the liquidity pool transaction fee and GT token rewards from the 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 automated 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 bonus and withdraw at any time

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Gate.io Team

September 30th, 2021