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Gate IEO: All You Need To Know
Gate.io is a Chinese cryptocurrency exchange, established in 2013, a prominent invest Asia proponent. As per data from the Blockchain Transparency Institute (BTI), the exchange ranks 7th amongst other BTI verified exchanges, by real volumes. Gate.io’s reputation for good security practices and a fantastic customer experience precedes it. Its users do enjoy seamless, easy, and fast access to crypto assets at their convenience.
The platform offers at least 100 various cryptocurrency and blockchain products for trade, including Bitcoin, and Ether. The blockchain assets exchange platform provides other services as well, including margin trading. Another attractive feature of the platform besides its top-notch security features is that it does not charge listing fees. The platform also has no deposit fees and provides cold wallet storage as well to enhance the security of its user’s assets.
Data shows that the platform had over 2.75 million users as of July 2019. This perhaps was spurred on by the introduction of its IEO token platform and successful sales of its native token GT. The initial exchange offering ieo, is crowdfunding model, where a cryptocurrency exchange acts as an intermediary. It has been touted as an enhanced version of the initial coin offering ico for an upcoming ieo.
What is Gate.io Startup and GT?
Gate.io Startup is the blockchain assets exchange platform’s version of the Binance Launchpad. The GateChain Token (GT) powers the GateChain decentralized exchange and is set to launch on the fourth quarter of 2019. Gate.io initially raised $64 million for the GT project, via the purchase of POINTs. POINTs are accumulated through the deduction of operational costs at the exchange; a reward of 1 POINT can give 2.5GT.
The exchange later received $3 billion in orders for the first phase of its POINTs sale and the distribution of GT. On April 8, Gate.io announced that it would offer GT sales with significant cryptocurrencies like USDT, ETH, and BTC for ten days. The buyers could increase their chances of purchasing more GT, if they participated in the token sale, longer.
After the sale, the exchange token has experienced an over 34% surge in value to constitute financial success due to its large number of IEOs. The sale of the GateChain Token has been a public sale and has been done with no pre-order or reservation processes, which makes it very transparent. Following this success, Gate.io has undertaken the second phase of POINTs sale. The second sale is focused on definite buyer groups. Startup was launched on April 18, as the exchange’s users access to its innovative projects and for creators out to launch an ieo.
How successful are Gate.io IEOs?
According to Cryptorank’s analysis of 89 IEOs, Gate.io’s projects have the highest ATH average returns at 1128.33%. Its project’s current average ROI is also the highest so far, at 167.80%. Startup held its first token sale on April 22 and has since then made blockchain news in the ieo calendar. The Crypto Neo-value Neural (CNNS) IEO project, for instance, had a 600 million CNNS supply. Four hundred fifty million of this value was sold off in GT, while the rest was sold in Tether (USDT). TheCrypto Neo-value Neural project is an innovative blockchain platform that facilitates the exchange of values and information of crypto assets.
Startup has also supported the DREP blockchain project. DREP is cofounded by the COO of Riot Games, Xu Xiaolong. Xu is a former lead developer at Qtum. Firms such as BlockVC Capital, Huobi Eco Fund, and OneBoat Capital, amongst others, support DREP. The project aims to solve various segregated public blockchains problems and enhance the availability of blockchain technologies products. DREP has millions of active users in Southeast Asia, the Middle East, and Australia.
Gate.io has also supported the VIDY and SERO projects on Startup. SERO is a privacy blockchain project that, amongst other things, enables the issuance of anonymous assets and the issuance of privacy coins as well. The SERO IEO raised $29.7 million while VIDY raised $43 million.
Gate.io has also supported the MovieBloc and GoWithMi IEOs. MovieBloc like its name suggests is directed at filmmaking, offering a blockchain based movie distribution platform. The project raised 35.6 million USDT surpassing its 2.9 million USDT goal from its 15,000 participants. GoWithMi, on the other hand, is a smart contract distributed map network with multichain support. The IEO has raised $28.74 million from 5,083 participants. The Gate.io CMO Marie Tatibouet notes that the platform’s reputation as a top IEO platform is due to Gate.io Startup’s unique and innovative blockchain startups.