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 initial investment. Trading service will be enabled once the startup project fulfills its fund raising goal. Gate.io Startup will launch its third project with FACTS.
Startup Link: https://www.gate.io/startup
1.Introduction to FACTS
The core idea of FACTS is to construct a set of “Factual Content Incentive Mechanism “that is based on blockchain technology, namely Proof of Facts (PoF). Users can obtain the right of reward allocation through any operational behavior on the factual content. By doing so, they help to solve current problems on the Internet such as massive false content, underpowered creation, low propagation efficiency and so on.
FACTS uates content through the “FACTS Index” assessment model which provides a strong credibility reference for content review panel and users. After the assessment, the trusted content is stored in the Facts Pool and then is automatically used to build Facts Graph through the NLP engine.
Click here to check out more: https://www.gateio.co/startup/4
1.FACTS Project Overview (for more detailed information, please visit FACTS official website)
(1) Token Symbol: BKC
(2) Total Supply: 9 billion
(3) Initial Circ. Supply: 27%
(4) Private Sale Token Price: 1 BKC=0.0023 USDT
(5) Public Sale Token Price: 1 BKC=0.00294 USDT
(6) Startup Goal: 1,539,000 USDT
(7) Startup Total Supply: 15%
(8) Price (USDT): 1 BKC=0.00114 USDT; Price (GT): To be confirmed
Please note that since GT is already listed on Gate.io and trading, the market price of GT will vary. Therefore, the Price of GT in related to the Startup projects will be calculated within 3 hours prior to the sale. The calculation rule is as following: A specific time stamp within 3 hours before the start of sale will be randomly chosen. Then, a 72 hours average value of GT-USDT on Gate.io before the chosen time stamp would be calculated and referenced as the Startup Price.
(8)Token Lock-up and Release：
•Startup (15%): No lock-up
•Public Sale (2%): No lock-up
•Community and Ecological Construction (35%): 3.75% for compliance and strategic consulting, the rest will be released after exchange listing
•Team (15%): four years to unlock, release 25% annually
•Foundation (20%): 3% will be used for foundation’s Daily operating expenses, 10% of the remaining tokens will be released every year the second year after exchange listing.
•Private Sale (13%): Release 25% after listing on exchange, the rest will be unlocked in six months.
(9)Please note: Apart from FACTS, tokens with the same token symbol (BKC) are also available on the market. Please double check the token address when making transactions with “BKC” token to avoid confusion.
2.FACTS (BKC) Startup Sale Rules
(1) Start Time: April 29, UTC 4:00–6:00
(2) Purchase limit: To be confirmed. The purchase limit will be set based on the Startup price in GT. Please see Gate.io Announcement for further information.
(3) Users can place orders from UTC 4:00 to UTC 6:00. Order placed by qualified users within these 2 hours will be treated equally.
(4) Users need to ensure there is sufficient balance (exceeding the purchase value) in accounts for the purchase after placing the orders. An insufficient balance will result in the cancellation of the purchase order.
(5) Users can place orders using GT.
(6) Each type of currency can only purchase once with each KYC account.
(7) After UTC 6:00, we will collect all the qualified orders and distribute the tokens according to the individual purchased orders: total purchased orders ratio. The final result will be announced at UTC 8:00 each day.
The distribution calculation rules are as follow:
F (distribution ratio) = Daily BKC supply limit ÷ Total BKC supply limit
P (actual individual purchased BKC) = F × qualified individual orders
M (actual payment amount) = Startup Sale Price × P
E.g. BKC daily supply limit is 100 million. The ordered BKC is 200 million. User X has placed an order to purchase 100 thousand BKC.
Thus:
F (distribution ratio) = 100,000,000 ÷ 200,000,000 =0.5
P (actual individual purchased BKC) = 0.5 × 100,000 = 50,000
M (actual payment amount in GT) = 50,000 × Startup Price in GT
If the project cannot fulfill its fund-raising goal within the given time, users will get refunded and the project will be delisted.
3. 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 token sale on Startup complies with local laws and regulations.
(2) Risk Warning:
- 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 significant risks.
- Advanced technical and financial knowledge is required to understand and uate the inherent risks of crypto-asset investment.
- The volatility of market is high, and the price of token might fluctuate drastically due to technical, regulatory and marketing factors etc.
- 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
- Participant should register on Gate.io and Log in;
- After logging in, complete user identity verification;
- Deposit a certain amount of cryptocurrencies in gate.io account;
- Sign the Purchase Agreement on Startup before placing orders.
Gate.io is a trading platform that does not charge listing fee, only launches quality projects, and provides users with a 100% guarantee and instant deposit-withdrawal services.
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