Picasso Network(PICA) Startup Free Offering on Gate.io

This Picasso Network (PICA) Startup subscription is a free subscription, and will not deduct the users' participation funds at the end of event.​​

Startup Link: https://www.gateio.io/startup

Introduction to Picasso Network (PICA)

Picasso is Composable’s layer 1 blockchain, built as a parachain on Kusama. Picasso acts as an infrastructure layer to pioneer interoperable DeFi solutions and functions as a home for substrate and CosmWasm based dApps through its implementation of the CosmWasm Virtual Machine.

At its core, Picasso is a network for cross-chain infrastructure enabling the transfer of assets and cross-chain contract execution. Picasso is equipped with a robust set of novel DeFi primitives that are built as modular pallets. These pallets are designed to attract liquidity from the broader DeFi landscape whilst promoting interoperability between various ecosystems.

(The information below is provided by the Picasso Network (PICA) team. Please follow Picasso Network (PICA) for more information）

Token Information
Token Name: Picasso
Token Symbol: PICA
Max Supply：10,000,000,000
Mainnet explorer: https://picasso.subscan.io/
Contract: N/A（Mainnet）
Token distribution ratio and unlocking rules:
Team: 13.65% supply , 6-month cliff + 2-year linear
Partners & Advisors: 6.35% supply, 6-month cliff + 2-year linear
Treasury: 18% supply, ‘soft-locked’; to be used only under direction of governance vote
Crowdloan: 30% supply, 50% TGE + 48-week linear
Eco Incentives: 10% supply, ‘soft-locked’; to be used under direction governance for activities such as collator & oracle operators, infrastructure rewards (collator staking), market making agreements, exchange listings, grants, and marketing initiatives
Series A: 7% supply, 3-month cliff + 2 year linear
Liquidity Programs: 15%, ‘soft-locked’; to be used under direction governance for activities such as initial seeding of liquidity pools, and liquidity incentives for LP’s

Website: https://picasso.xyz/
WhitePaper ：https://docs.composable.finance/parachains/picasso-parachain-overview

Picasso Network (PICA) Startup Sale Rules

(1) Duration: 01:00 am 12th, November, 2023 - 01:00 am 13th, November, 2023 (UTC)(Orders placed by qualified users within these 24 hours will be treated equally.)
(2) Trading Starts Time: 13th, November, 2023 UTC 04:00 AM
Trading Pairs: PICA/USDT
(3) Price: 0 USDT
(4)Startup Supply : 6,857,143 PICA
(5) Unlock rule: 100% unlock.
(6) Startup Participation Rules:
Each user can only purchase once with a KYC account.
a) Startup Participation Rules for VIP Users:
For Airdrop Projects, the system will no longer verify the VIP Users’ assets adequacy, instead, the system will verify the Users’ VIP Level. The actual shares each VIP User received will be determined based on the actual VIP Level at the time of token distribution.
Purchase limit: The maximum contribution limit for a single user is 1500 shares. The VIP Users’ existing subscription share rules remain unchanged and can get 100% airdrops. The higher the VIP level, the more Startup airdrop shares can be subscribed.
The relationship between the VIP level and the maximum contribution allocation, please refer to the link: https://www.gate.io/article/29892
b) Startup Participation Rules for Non-VIP Users (VIP 0 Users):
Spot assets not less than 10 USD, after participating in the subscription, 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.
Non-VIP users who use Startup vouchers to join the subscription will have their Voucher benefits prioritized. Startup vouchers guarantee a 100% corresponding share, the specific subscription rules can be found at https://www.gate.io/article/31899.
(7) Announcement of results: After the end of the day’s subscription, the system will count all eligible subscription orders.
VIP users will be distributed according to the ratio of the individually subscripted tokens to the total subscripted tokens.
Non-VIP users will be randomly selected as part of the lucky Non-VIP users and the airdrop quota will be distributed equally. The subscription results will be announced before listing.
(8) That multiple 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.