Gate.io introduces 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 first project with Cryto Neo-value Neural (CNNS).
Over the past six years, Gate.io has endeavored to conduct in-depth research and provided over 100 excellent projects with our secure, fast, and leading trading services. Gate.io also aims to promote the growth of blockchain industry. We do not charge any listing fees and offer traders a transparent and secure trading environment with no market manipulation. Gate.io has been making an effort to improve the situation where exchanges tend to ask for high listing fees and where blockchain investors have limited access to accurate and transparent information. In the future, we will continue to present projects with strong utilities, establish prolonged cooperation with our partners, and provide timely updates on Gate.io Startup.
Startup Link: https://www.gateio.co/startup
1.Introduction to CNNS
CNNS, short for Crypto Neo-value Neural , intends to build a vibrant blockchain ecosphere to facilitate users to discover, invest in, and exchange information and values of crypto assets. The CNNS Ecosphere contains four modules: CNNS Information Terminal (CIT), CNNS Asset Management Platform (CAMP), CNNS Value Exchange Platform (CVEP) and CNNS Global Community (CGC).
Click here to check out more: https://www.gateio.co/startup/2
CNNS Project Overview (for more detailed information, please visit CNNS official website)
(1) Token Symbol: CNNS
(2) Total Supply: 10 billion
(3) Initial Circ. Supply: 13%
(4) Amount Raised in Public Sale: $3.6 million USD
(5) Startup Total Supply: 600 million
150 million in USDT;
450 million in GT
(6) Price: 1 CNNS=0.006 USDT; 1 CNNS=0.01 GT
Please note: Since GT trading service is not available, the temporary price “P1” is set to be 1GT=0.60 USDT. One month after the project launch, the price “P2” will be adjusted according to the GT daily opening price on Gate.io from April 25 to May 25 (GMT +8:00). If P2 is over 10% higher than P1, which is more than $0.66 USD, Gate.io will refund the exceeding amount (P2-P1*110%) in GT based on P2 to users who invested with GTs.
(7) Token Allocation:
- Startup 6%
- Private Placement 14%
0.3% of these tokens will be unlocked each day three months after the exchange listing, it takes 333 days to unlock all of them.
- Foundation 20%
2% of total distribution will be used for running the foundation at an early stage, and 10% of total distributed tokens will be unlocked every year after exchange listing.
- Team 10%
2% of total distributed tokens will be unlocked every year after exchange listing. It takes 5 years to unlock all of them.
- Community Reserved 50%
5% will be used for building the eco at an early stage, and 10% of total distributed tokens will be unlocked every year after exchange listing.
2.CNNS Startup Sale Rules
(1) Start Time: April 22, UTC 4:00–6:00
(2) Purchase limit: no less than 20,000 CNNS and no more than 500,000 CNNS per individual
(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) Each user can only use one account, and the purchase limit is 10 plans per day. Users who violate this rule will be disqualified, and the payments will be refunded.
(6) Users can place orders using other coins (we take USDT and GT). Each order can only use one type of coin.
(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.
(8) The distribution calculation rules are as follow:
F (reward ratio) = Daily CNNS supply limit ÷ Total CNNS supply limit
P (actual individual purchased CNNS) = F × qualified individual orders
M (actual payment amount) = Startup Sale Price × P
E.g. CNNS daily supply limit is 100 million. The ordered CNNS is 200 million. User X has placed an order to purchase 100 thousand CNNS.
F (reward ratio) = 100,000,000 ÷ 200,000,000 =0.5
P (actual individual purchased POINT) = 0.5 × 100,000 = 50,000
M (actual payment amount in USDT) = 50,000 × 0.006 USDT = 300 USDT
M (actual payment amount in GT) = 50,000 × 0.01 GT = 500 GT
If the project cannot fulfill its fund-raising goal within the given time, users will get refunded and the project will be delisted.
(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.
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April 18, 2019