Announcement on Gate Web3 Startup Project BurnedFi(BURN) and Rules of Participation in Win and Share 8,000 BURN for Free

New York, February 4, 2024 - (500NewsWire) -- To provide feedback on users’ support for the platform, Gate.io officially launched the “Gate Web3 Startup” on July 3, 2023, and occasionally conducts airdrop plans for blockchain projects. Gate Web3 Wallet users can receive tokens or NFT airdrop benefits by participating in the Web3 Startup.

This project will obtain quota allocation airdrop rewards through lottery, and users connecting to Gate Web3 Wallet can participate in the lottery for free to divide 8,000 BURN. This time, you only need to make sure your EVM-chain assets is more than 10 USD equivalent amount. The chance for winning the airdrop rewards is not 100% in the activity. The higher the current wallet assets, the greater the probability of obtaining an airdrop!

I. How to Participate?

Web:

Go to the Gate Web3 Startup interface

Connect the wallet (if you do not already have the Gate Web3 Wallet, you can download and install the Chrome Extension first and then create the Gate Web3 Wallet)

Click on the Web3 homepage navigation bar ‘Launch’ - ‘Startup Airdrop’

Select the project icon in the “In Progress” section, click to jump to the details page, and click to participate in subscription.

APP:

Download/update the Gate.io App (version 5.5.0 and above)

Go to the App homepage and switch to Web3 wallet

Create or import the Gate Web3 Wallet

Click on the Web3 homepage ‘Startup’

Select the project icon in the “In Progress” section, click to jump to the details page, and participate

(Reminder: After transferring to the wallet, it takes approximately 5-10 minutes for on-chain asset confirmation)

II. What is the Current Project of Gate Web3 Startup?

The current Gate Web3 Startup will be launched for Project BurnedFi(BURN) subscription, which is free and will not deduct user participation funds after completion

Introduction to the Selection Area of the Startup Project

First and unique token economics in the crypto industry. The token started from fair mint. The token was programmed to launch automatically and immediately after 150,000 mints. It took less than 2 days to fully mint the 150,000 mints. The token was launched on 17th December 2023.

Project details at: https://www.gate.io/web3/startup/1123 

Basic information of BurnedFi(BURN) project: (According to the official information disclosure of BurnedFi, please refer to the official website of BurnedFi for details)

(1) Full English name: BurnedFi

(2) Full Chinese name: N/A

(3) Token symbol: BURN

(4) Token Contract: 0x19c018e13CFf682e729CC7b5Fb68c8A641bf98A4

(5) Token Type: BSC

(6) Website: https://burnedfi.com/#/home 

III. BurnedFi(BURN) Subscription Rules:

(1) Subscription start time: From 06:00 on 17/1/2024 to 06:00 on 19/1/2024 (UTC) (valid orders within 24 hours are treated equally)

(2) Subscription price: 0 USDT

(3) Total subscription amount: 8,000 BURN

(4) Unlock method: 100% unlock

(5) Participation conditions for this time: Gate Web3 Wallet EVM chain assets need to be no less than $10 to participate in subscription

(6) Purchase limit: Users can only claim once, and the higher the amount of EVM chain funds in the Gate Web3 Wallet, the greater the probability of obtaining an airdrop.

IV. Gate.io Labs Investment Publicity

Gate.io Labs did not participate in BurnedFi(BURN) investment.

V. Web3 Startup Related Instructions (if there are any changes, the subsequent announcement shall prevail)

(1) Participation conditions: Gate Web3 Wallet EVM chain asset balance ≥ 10 USD equivalent assets can participate in subscription, users can only claim once; The higher the balance of wallet assets, the higher the subscription limit. (EVM chain includes: GateChain, Ethereum, BNB Chain, Arbitrum, Polygon, Optimism, Avalanche, etc.)

(2) Adequate amount: Before completing the distribution, users must ensure a sufficient amount of no less than $10 in the Gate Web3 Wallet; Insufficient amounts will automatically be excluded from valid orders.

(3) Result announcement: After the end of the day’s subscription, the system will count all eligible subscription orders and extract quota based on probability. The higher the wallet funds, the higher the probability of being drawn. The airdrop token/NFT will be directly distributed to the user’s participating wallet address, and winning users can view the received airdrop rewards in the Gate Web3 Wallet or trading history.

(4) Reward distribution: Rewards will be distributed and announced 48 hours after the end of the project. The whitelist or some NFT projects may have issues with extended distribution times. Thanks a lot for your understanding for any inconveniences caused.

VI. Other Precautions

(1) Risk reminder:

·The Startup project is a blockchain start-up project that is still in its early stages, and there may be significant risks in the project’s operation, underlying technology, legal and regulatory environment, etc.

·Understanding blockchain startups and evaluating their inherent risks requires advanced technical and financial knowledge.

·Due to the influence of technology, laws and regulations, market, and other factors, the prices of the projects you participate in may fluctuate sharply, and the prices may significantly decrease or increase.

·Due to the underlying technology of the project or the Gate.io trading platform, the project you are participating in may not be able to fully or partially withdraw cash.

·Virtual coin or NFT projects have high risks. Virtual coin or NFT prices have high volatility. The project teams have not set up a deposit and do not provide any price commitment or breach guarantee. Please be sure to participate in situations where you fully understand the risks and are able to bear them. The platform strongly reminds you of the risks, but cannot assume any responsibility for investment behavior such as guarantee and compensation.

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