Gate Token

GATE Community Update

14 April 2021 by In News

Dear GATE Community

With the anticipation of GATE staking going live in the coming days, followed by the listing of GATE on Mine Digital, we wanted to provide you with an update on timelines and what to do next!

Staking

We have created a handy ‘Staking Guide’ outlining your staking options and related awards.

To be clear – there is nothing for you to do today – the Staking Guide is provided for your information.

In summary, the Staking Guide outlines the following:

Lock-In Periods:

30 days 

6 Months

12 Months

Staking Rewards:

GATENet Fee AwardA variable award based on a percentage of GATENet fees (as set out in the GATENet WP)
GATENet Monthly Loyalty Reward0.8% per month (10.04% per annum compounded)
GATENet Monthly Random Loyalty Reward0.1% per month (1.21% per annum compounded)
GATENet Weekly Lottery Loyalty Reward10,000 GATE token weekly lottery
GATENet Bonus Loyalty Reward (6 month lock-in and 12 month lock-in)1% additional reward – for 6 month lock-ins 3% additional reward – for 12 month lock-ins

You can see a full breakdown of the staking reward opportunities in the guide, needless to say it is packed with reward incentives! Meaning stakers of GATE will earn rewards and soon be able to participate in our governance framework.

As a final word on staking, and a thank you for your patience – anyone who chooses to stake their tokens at House of HODL between go-live and 31 May 2021, will have their rewards backdated to 1 April 2021!  So please don’t worry about being late to stake as there’s time for everyone to stake and earn rewards.

Listing of GATE Token on Exchange

Mine Digital are making progress but there’s going to be a slight delay as they make the finishing touches to their platform. We will keep you informed.

Meanwhile, we are progressing well with the process to get GATE relisted on Liquid and we are ready and set up to push the button to activate the listing on Uniswap.

Our strategy currently is to go live on Mine Digital and Uniswap simultaneously, and we hope Liquid (further information to be provided as and when we have it). 

Onboarding and GBX Customers “You Decide”

Today we are also releasing a ‘Token Transfer Guide’ with links to House of HODL and Mine Digital Exchange onboarding, and to provide options for GBX customers whose assets are being transmitted to Mine Digital to make the choice of how they want their tokens allocated; House of HODL (STAKING); Mine Digital Exchange (TRADING); or a combination of both!  You Decide!

“You Decide”, available on gatetoken.io, allows GBX customers to tell us your preference for the destination of your GATE tokens when House of HODL is live, expected to be in the next few days, and GATE tokens are listed on Mine Digital Exchange, which is likely to follow later on this month. The current (default option) is that all GBX customer assets will be transferred to Mine Digital Exchange unless specified, but we wanted our community to have the option to choose.

If you hold your GATE tokens in your own wallet, as soon as House of HODL (STAKING) is activated you can proceed to deposit your GATE tokens (deposit address will be displayed on your House of HODL account when it has been opened) and you can choose whichever trading venue you wish to trade GATE.