Gate.io Startup Initial Free Offering: LayerNet (NET) and Announcement of Free Distribution Rules (3,200,000 NET free of charge)

Gate.io has launched the “Startup Project Free Airdrop Program” in order to reward users. Free airdrops for potential blockchain projects will be launched in Startup from time to time, where users can get a variety of tokens via airdrop benefits.

User's participation funds will not be deducted for Startup project LayerNet (NET) free airdrop.

How to Participate:Step 1: Login to your Gate.io account(Complete KYC2 verification)Step 2: Hold no less than 10 USD of spot assetStep 3: Click "$0 Free to Claim"

LayerNet (NET) Startup Participation RulesDuration: 10:00 PM July 23rd, 2024 - 06:00 AM July 25th, 2024 (UTC) (Orders placed by qualified users within the subscription period will be treated equally.)Trading starts time: 10:00 AM July 25th, 2024 (UTC) (Trading pair: NET/USDT)Fundraising Goal: $40,000 USDTStartup Supply: 3,200,000 NETUnlocking Rule: 100% UnlockParticipation Requirements: Complete KYC2 verification and the value of spot asset balance held is not less than 10 USD.Startup Participation Rules:(1) The higher the VIP level, the more Startup airdrop shares can be claimed. Each user can receive up to 1,500 shares. For specific information about available shares, please refer to: https://www.gate.io/help/guide/faq/25687/startup-faq(2) Non-VIP Users can join the lucky draw of free airdrop by holding no less than 10 USD of spot assets, whether the Non-VIP Users win or not will be announced at the end of the project subscription. A portion of lucky Non-VIP Users will be randomly selected and the airdrop amount will be evenly distributed.(3) The user's VIP level will be checked when the tokens are distributed. The actual share per user will receive is calculated according to the VIP Level when distribution happens.(4)Announcement of results: After the subscription ends, the system will count all eligible subscription order and distribute the project tokens accordingly. Tokens for VIP users will be distributed according to the ratio of their valid subscription amount to the total valid subscription amount, while Non-VIP users will have a portion of lucky users randomly selected to evenly distribute the airdrop quota. The subscription results will be announced before listing.Note: That mATRSple accounts with the same KYC information when claiming Startup shares will be deemed as cheating behavior, and any cheating behavior is prohibited. In case of cheating, Gate.io reserves the right to disqualify the users involved and forfeit their rewards: https://www.gate.io/announcements/article/37836Learn more about the rules for available shares of different VIP levels: https://www.gate.io/help/guide/faq/25687/startup-faqCheck participation tutorial: https://www.gate.io/help/guide/functional_guidelines/22401/how-to-participate-in-startup

Project Information (The information below is provided by the LayerNet (NET) team. Please follow the LayerNet (NET) website for more information）(1)Introduction：LayerNet is the first zk-based infrastructure on Solana, aiming to help onboard 900 million Telegram users to Solana, comparable to StarkEx behind IMX. LayerNet plans to create a dedicated space within Solana’s framework, accommodating 900 million Telegram users. In this space, users will enjoy zero gas fees while benefiting from Solana’s robust security. This space is compatible with existing Solana developers and infrastructure, including Phantom wallet.The LayerNet DApp will support applications for payments, social interactions, and gaming, similar to the current functionalities of TON. We aim to challenge the entire TON ecosystem based on Solana! Following Solana’s deployment of Blink on the X platform, we will build LayerNet on Telegram!

More details:(2)Token name: LayerNet(3)Token symbol: NET(4)Max Supply: 800,000,000(5)Token Type(s): ERC-20 ; SOL(6)Token Contract:Solana:https://solscan.io/token/hwTWfDEzrAwrqKR98voJVAAD5CBkhUcG9NxWNfx2mSn

(7)Token Distribution and Unlocked Rules:6.625% Partner : 15% released at TGE, followed by a 1 month cliff and 6 month linear vesting1.875% Bybit IDO : 100% released at TGE40% Community : 60% released at TGE, followed by 1 month cliff and 20 month vesting period25% Ecosystem / Treasury : 1 month cliff, followed by 25 month vesting period10.5% Liquidity Pool / Listing: 80% released at TGE, followed by 1 month cliff and 8 month vesting period16% Team / Advisor: 9 month cliff, followed by 20 month vesting period

(8)Website: https://layernet.ai/(9)Whitepaper: https://layernet-ai.gitbook.io/docs

Gate.io Labs Private Sale Participating DisclosureGate.io Labs has not invested in LayerNet (NET).

Attention(1) Please note that LayerNet (NET) contract owners reserve the rights to additional minting and suspend the contract, so please be aware of the risks associated with this.

(2) Please be noted that we may restrict or prohibit the use of all or a portion of the Services (including the participation in this event, game or competition) from Restricted Locations, including but not limited to the United Kingdom, United States of America, Mainland China, Singapore, Canada, France, Germany, Hong Kong, Lithuania, Malaysia, Malta, Cuba, Iran, North Korea, Sudan, Syria, Crimea Region, Spain, Luhansk, Donetsk, Netherlands, Bolivia and so on.

We may in our sole and absolute discretion elect to make the Services, or only part of the Services available in certain jurisdictions. For more information regarding the Restricted Locations, please read the User Agreement “Section 2.3(d) Restricted Locations”. We do not intend to solicit or conduct marketing towards customers in such Restricted Locations.(3) Risk Warning:-The project team does not guarantee that token price will not be lower than its startup sale price. Please invest with caution, and don’t invest beyond your financial capacity.-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 to significant risks.-Advanced technical and financial knowledge is required to understand, and evaluate the inherent risks of crypto-asset investment.-The market volatility is high, and the price of a token might fluctuate drastically due to technical, regulatory, and marketing factors.-Users may not be able to withdraw all the purchased tokens due to technical issues of the project or Gate.io.(4) Requirements for participants-The participant should register on Gate.io and Log in;-After logging in, complete user identity verification;-Deposit a certain amount of cryptocurrencies in your gate.io account;-Sign the Purchase Agreement on Startup before placing orders.

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Gate.io TeamJuly 23rd, 2024