Gate.io Launches Single Listing Vote #4 – Polkadot (DOT IOU)
Gate.io is a trading platform that does not charge listing fees, only launches quality projects, and provides users with a variety of blockchain assets trading services. To involve a higher number of users in the process of expanding our list of coins, Gate.io has implemented a new feature called "single listing vote," offering even more opportunities to launch high-quality projects.
In each single listing vote, participants can vote for the project. In this single listing vote, the tokens of the project will be listed on Gate.io. All voters have a chance to win an airdrop of the project token according to the ratio of the votes they contributed to the number of votes in total.
1. Duration: 04:00 AM GMT July 15, 2020 – 04:00 AM GMT July 16, 2020
2. Airdrop Amount:
Once Polkadot gets 10 million votes, the trading service of DOT will be available on Gate.io. Each voter has a chance of sharing a 100 DOT airdrop as per the Single Listing Vote Scheme.
3.Participate in the Listing Vote at: https://www.gate.io/poll/votelist/24
Introduction to Polkadot
1. Project Introduction
Polkadot is an open-source protocol founded by the Web3 Foundation, aiming to enable a completely decentralized web where users are in control. Polkadot can upgrade without hard forks to integrate new features or fix bugs. It enables cross-blockchain transfers of any type of data or asset, not just tokens. Besides, Polkadot's novel data availability and validity scheme allows chains to interact with each other in a meaningful way. It has a sophisticated governance where all stakeholders have a voice, ensuring that Polkadot’s development reflects the values of the community and avoids stagnation.
Official website: https://polkadot.network/
Link to Whitepaper: https://polkadot.network/PolkaDotPaper.pdf
Link to Lightpaper: https://polkadot.network/Polkadot-lightpaper.pdf
2. Token Information
The DOT token serves three distinct purposes: governance over the network, staking and bonding. Polkadot token holders have complete control over the protocol. All privileges, which on other platforms are exclusive to miners, will be given to the Relay Chain participants (DOT holders). Game theory incentivizes token holders to behave in honest ways. It regulates that good actors are rewarded by this mechanism whilst bad actors will lose their stake in the network, ensuring the network security. In addition, new parachains are added by bonding tokens. Outdated or non-useful parachains are removed by removing bonded tokens. This is a form of proof of stake.
(1) Token symbol: DOT
(2) Total supply: 10,000,000
(3) Current Circ. Supply: https://polkadot.js.org/apps/#/explorer
(4) Token allocation:
50% - Sale
20% - it is intended that 2 million DOTs will be sold or otherwise distributed prior to genesis
30% - the Web3 Foundation （retained or distributed at its sole discretion）
(5) Additional issuance
It is intended that the Polkadot genesis block will contain 10 million DOTs. The overall supply of DOTs over time will not be fixed, nor will it be subject to a pre-determined upper limit. DOTs will be subject to an as yet determined inflation model which envisages that the supply of DOTs will increase each year and are likely to be designed to incentivise participants such that a sufficient proportion (yet to be determined, but perhaps 50%) of all DOTs in issue at any point in time will be staked to support the proof of stake consensus mechanism that underpins Polkadot.
3. Instruction of claiming DOT asset (money migrated in about 10 minutes): https://www.gate.io/article/17621
4.Deposit DOT at: https://www.gate.io/myaccount/deposit/DOT
Single Listing Vote Scheme
1.Participants: all the GT holders on Gate.io 1 GT=1 vote
2.Vote allocation: For every participant, their vote equals the average 14-day GT holding including assets in Lending/Borrowing Market, and the GT bought with USDT borrowed from Margin Trading, however, GT borrowed from Margin Trading is not allowed. The user’s votes will be calculated based on the average 14-day GT holding within two hours after the listing vote. Thus, please don’t make any changes to your GT holding before the counting of the votes.
For example, Bob is a new GT holder, and he buys and holds 14000GT one day before the sale. Therefore, his average 14-day GT holding will be 1000GT 14000GT/14 days, and he will have 1000 votes.
3. Every real-name participant can vote with his GT for the project.
4. In this listing vote, when the project gets 10 million votes, the tokens will be listed.
5. After the listing vote, all voters will be rewarded with an airdrop of the tokens. Meanwhile, the time for trading, withdrawal, and deposit of the tokens will be released.
6.The return of GT and holding requirements: after the listing vote, the voter’s GT will be returned to his account. The GT holding of the voter should be higher than the number of his votes within two hours after the activity. Otherwise, the number of the votes will be counted based on the real-time GT holding when the vote counting begins.
7.Rewards in the Listing Vote:
（1）After the project receives 10 million votes, the token will be airdropped. All voters will win the token. The airdrop of the token will be ratioed according to how many votes of the voter account for the votes in total.
（1） Cheating: Gate.io will cancel the votes of an account if any cheating is detected or reported by other users and confirmed. The account will no longer be qualified for the listing vote if more than three cheating records have been registered.
Gate.io reserves the final right to interpret this activity.
Gate.io is a trading platform that does not charge listing fees, only launches quality projects, and provides users with 100% guaranteed and instant deposit-withdrawal services.
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July 14, 2020
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