Swell Network(SWELL) Startup Mining Initial Offering on Gate.io

About Gate.io Startup Mining

Gate.io Startup Mining is a staking product in the platform's Startup series, where users can stake designated tokens to receive rewards from the token pools.

1.Introduction to "Startup Mining" Project Swell(SWELL)

Swell is the first-ever fully unified restaking yield protocol. It features a vertically-integrated restaked rollup L2 powered by Swell native LRTs, securing and utilizing a diverse set of AVSs and a rich ecosystem of innovative applications like Ion, Brahma, Ambient, and more. Swell L2 infrastructure partners include Polygon, Chainlink, AltLayer, EigenLayer, EigenDA, and many more top-tier blockchain infrastructure players.

2.Swell(SWELL) Startup Mining Rules:

(1) Staking period: 10:00 AM on November 5th - 10:00 AM on November 17th (UTC), 2024

(2) Trading starts time: 10:00 AM on November 7th, 2024 (UTC)

(3) Startup Mining allocation: 4.400.000 SWELL

(4) Staking Pool

https://www.gate.io/zh/startup-mining/70?gt_disable_intercept_jump=1&needNavBar=0

https://www.gate.io/zh/startup-mining/71?gt_disable_intercept_jump=1&needNavBar=0

(5) Unlocking Rule: 100% Unlock

(6) Reward Calculation and Distribution

-USDT & SWELL Staking Pool: The system will take multiple snapshots of personal staking amounts hourly, and take the average staking amount as the valid staking amount. Hourly staking reward = (Individual latest 1-hour valid staking amount / Total pool staking amount) × Hourly reward pool

-"Single-Coin Multi-Mining" GT Pool: The system will take multiple snapshots of the participants' GT holdings every hour, calculate the average to determine the effective holding amount, and distribute rewards based on that effective holding amount. Hourly Reward = (User GT Holding Amount / Total User GT Holdings in the Pool) x Hourly Reward for the Pool.

-Token rewards will be distributed into the spot accounts of eligible users hourly.

-Users can join USDT, SWELL Staking Pool or "Single-Coin Multi-Mining" SWELL Pool at the same time to earn rewards from USDT, SWELL pool and GT pool separately.

3.Token Information:

(The information below is provided by the Swell(SWELL) team. Please follow the website for more information)

(1) Token name: Swell

(2) Token symbol: SWELL

(3) Max Supply: 10.000.000.000

(4) Token type: ERC-20

(5) Token Contract: https://etherscan.io/token/0x0a6E7Ba5042B38349e437ec6Db6214AEC7B35676

(6) Token Distribution and Unlocked Rules:

Ecosystem and Community: 37%, 900.000.000 tokens unlocked at TGE

Team and Advisor: 23.5%, 12-month lock from TGE and then 24-months linear vesting

Investors: 23.5%, 12-month lock from TGE and then 18-months linear vesting

Treasury: 16%, 500.000.000 tokens unlocked at TGE. 1.100.000.0000 tokens subject to 6-month lock-up with 36-months linear vesting

(7) Website: https://www.swellnetwork.io/

(8) Whitepaper: https://docs.swellnetwork.io/

(9) Token information: https://etherscan.io/token/0x0a6E7Ba5042B38349e437ec6Db6214AEC7B35676

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