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Gate.io Startup MovieBloc Token Sale Result and MBL Trading Service Announcement

2019-05-03 15:28:26Read:293224

The Gate.io Startup MovieBloc(MBL) Token Sale started at UTC 4:00 and ended at UTC 6:00 on May 3rd, 2019. All orders placed during this period were treated equally. With a total of 15,000 participants, a total of $35.23 million USD worth of orders were placed (with a total of 51 million GT). The distribution ratio of orders placed using GT is 8.17%.

Gate.io will distribute MBL based on the data we collected, please go to "My Startup" for the balance detail.
https://www.gateio.co/myaccount/mystartup

Gate.io will enable the trading and deposit/withdrawal service of MBL at UTC 4:00, May 6th 2019.

Please note that the liquidity is low in the project’s initial trading stage, the market price will be volatile and might see pullbacks from its high opening price. Please be aware of the market risks and place your investment cautiously.

Many users have requested for the Margin Trading and Lending/Borrowing markets after the project is listed. However, at the initial stage of trading, the amount of tokens available for borrowing are limited. This could result in an imbalance between the long and the short, and the market price could be driven up. Therefore, the launch of Margin Trading and Lending/Borrowing Markets of MBL will be postponed until the market price becomes less volatile.

In order to protect traders’ interests on Gate.io, we are now adopting the limit order when Startup projects are listed on exchange. Please refer to the announcement Gate.io Startup Projects Adopt Limit Order for Trading for more information.

Here is the calculation rules:
1) The minimum opening price is calculated as follows (temporary calculation rule, trading time is calculated in seconds) :
Psell = P0/(1+C0+T0* Trading Time)
Trading Time= the square root of [(Current Time – Market Opening Time)/15 minutes]

2) The maximum opening price is calculated as follows (temporary calculation rule, trading time is calculated in seconds):
Pbuy = P0 *(1+C0+T0* Trading Time)
Trading Time= the square root of [(Current Time – Market Opening Time)/15 minutes]

For MovieBloc (MBL), the limit order factors were set as follows:
Startup Price P0=0.0012 USDT
Fluctuate factors C0=0%
Time T0=0.5

“Pbuy” is set to be “P0”, from then on the maximum price will increase by time. 15 minutes from the market opening time, “Pbuy” will be 1.5 times higher than “P0”; 30 minutes from the market opening time, “Pbuy” will be 1.7 times higher than “P0”; 1 hour from the market opening time, “Pbuy” will be 2 times higher than “P0”; and so on. Vice versa for “Psell”, the minimum price will decrease by time.
The price limit will be removed the next day.
Users who do not want to buy or sell within this price range can postpone the trade until the range becomes wider.

Trade MBL at:
https://www.gate.io/trade/MBL_USDT

The deposit service of MBL is now available. Deposit MBL at:
https://www.gate.io/myaccount/deposit/MBL

The Gate.io Startup MovieBloc (MBL) Token Sale Result is as follows:

MBL Startup Sale Amount: 2,400,000,000
Total value of orders (in USDT): 35,566,087
Total value of qualified orders (in USDT): 35,239,087
Number of orders: 15,420
Number of Qualified orders: 15,249
Percentage of qualified orders: 98.891 %
Percentage of succeeded purchases: 99.080 %
Number of participants: 15,420
Number of qualified participants: 15,249

Average qualified order value per user (in USDT): 2,310
Average distribution value per user (in GT): 273
Average distributed MBL per user: 157,325

F (distribution ratio with GT) = 0.081727445778948

Per the previous announcement, all qualified orders will obtain the token on sale equally. To guarantee transparency and fairness, all original records are stored for possible third-party auditing.

According to the data above, due to the large number of participants (about 15,000) and the high volume of total value of orders ($51 million GT), the distribution ratio is relatively small(8.17%). Compared to the previous Startup projects, there are fewer participants and the market has seen some downturns.

Gate.io Startup will continue to provide more innovative projects, and users will have more opportunities to make initial investments. Stay tuned and keep up with Gate.io Startup by following our announcements and check out the Startup webpage.

Attention: Most unqualified orders occurred due to insufficient balance in the user account. Please ensure there is sufficient balance (exceeding the purchasing value) for the order by UTC 8:00 A.M. The insufficient balance will result in the cancellation of the purchase order.


Gate.io has launched Startup, a platform that aims to provide users with access to innovative and advanced projects. Traders now have more opportunities to make initial investment. Trading service will be enabled once the startup project fulfills its fund raising goal. Gate.io Startup will launch its third project with MovieBloc.

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

1.Introduction to MovieBloc

MovieBloc is a blockchain based film distribution platform. The Creators will get a transparent revenue share, audience data, and equal screening opportunity; the viewers will access various films & contents and get rewarded for providing curation, foreign subtitle, and marketing material to the MovieBloc eco.

Click here to check out more: https://www.gateio.co/startup/5

1.MOVIEBLOC Project Overview (for more detailed information, please visit MOVIEBLOC official website)
(1) Token Symbol: MBL
(2) Total Supply: 30 billion
(3) Initial Circ. Supply: 13%
(4) Private Sale Token Price: 1 MBL=0.001333 USDT
(5) Startup Goal: 2,880,000 USDT
(6) Startup Total Supply: 8%
(7) Price (USDT): 1 MBL=0.0012 USDT; Price (GT): To be confirmed
Please note that since GT is already listed on Gate.io and trading, the market price of GT will vary. Therefore, the Price of GT in related to the Startup projects will be calculated within 3 hours prior to the sale. The calculation rule is as following: A specific time stamp within 3 hours before the start of sale will be randomly chosen. Then, a 72 hours average value of GT-USDT on Gate.io before the chosen time stamp would be calculated and referenced as the Startup Price.

(8)Token Lock-up and Release:
•Startup (8%): No lock-up
•Private Sale (3%): 3 months lockup and 12 months vesting
•ONT Foundation (10%): 3 months lockup and 12 months vesting
•MBL Foundation (10%): 6 months lockup and 24 months vesting
•MBL Airdrop (11%): No lock up and only 2% released initially. Please refer to official airdrop event on the community accordingly
•MBL Team (15%):12 months lockup and 24 months vesting
•MBL Eco (43%): 3% will be released initially for developing the eco, and the rest 40% will have 6 months lock up and 24 months vesting

2.MOVIEBLOC (MBL) Startup Sale Rules
(1) Start Time: May 3, UTC 4:00 - 6:00
(2) Purchase limit: To be confirmed. The purchase limit will be set based on the Startup price in GT. Please see Gate.io Announcement for further information.
(3) Users can place orders from UTC 4:00 to UTC 6:00. Order placed by qualified users within these 2 hours will be treated equally.
(4) Users need to ensure there is sufficient balance (exceeding the purchase value) in accounts for the purchase after placing the orders. An insufficient balance will result in the cancellation of the purchase order.
(5) Users can place orders using GT.
(6) Each type of currency can only purchase once with each KYC account.
(7) After UTC 6:00, we will collect all the qualified orders and distribute the tokens according to the individual purchased orders: total purchased orders ratio. The final result will be announced at UTC 8:00 each day.
The distribution calculation rules are as follow:

F (distribution ratio) = Daily MBL supply limit ÷ Total MBL supply limit
P (actual individual purchased MBL) = F × qualified individual orders
M (actual payment amount) = Startup Sale Price × P

E.g. MBL daily supply limit is 100 million. The ordered MBL is 200 million. User X has placed an order to purchase 100 thousand MBL.

Thus:
F (distribution ratio) = 100,000,000 ÷ 200,000,000 =0.5
P (actual individual purchased MBL) = 0.5 × 100,000 = 50,000
M (actual payment amount in GT) = 50,000 × Startup Price in GT.

If the project cannot fulfill its fund-raising goal within the given time, users will get refunded and the project will be delisted.

3. Attention:
(1) Countries not supported: Afghanistan, Albania, Belarus, Bosnia and Herzegovina, Burundi, Burma, Canada, China, Democratic Republic of Congo, Cuba, Ethiopia, Guinea-Bissau, Guinea, Iran, Iraq, Japan, Liberia, Lebanon, Libya, Macedonia, Malaysia, New Zealand, Serbia, Sri Lanka, Sudan, Somalia, Syria, Thailand, Trinidad and Tobago, Tunisia, Uganda, Ukraine, United States of America, Venezuela, Yemen, Zimbabwe.
For users from other countries, please check and make sure your participation in token sale on Startup complies with local laws and regulations.

(2) Risk Warning:
- 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 significant risks.
- Advanced technical and financial knowledge is required to understand and uate the inherent risks of crypto-asset investment.
- The volatility of market is high, and the price of token might fluctuate drastically due to technical, regulatory and marketing factors etc.
- Users may not be able to withdraw all the purchased tokens due to technical issues of the project or Gate.io.

(3) Requirements for participants
- Participant should register on Gate.io and Log in;
- After logging in, complete user identity verification;
- Deposit a certain amount of cryptocurrencies in gate.io account;
- Sign the Purchase Agreement on Startup before placing orders.

Gate.io is a trading platform that does not charge listing fee, only launches quality projects, and provides users with a 100% guarantee and instant deposit-withdrawal services.
Get 30% trading fee in the affiliate program at https://www.gate.io/myaccount/myreferrals

Gate.io New Features:
Spot Trading on Gate.io (200+ tokens):https://www.gate.io/trade/BTC_USDT
Margin Trading on Gate.io (Long or Short):https://www.gate.io/margin_trade/BTC_USDT
Perpetual Contract Trading:https://www.gate.io/futures_trade/BTC_USD
Lending on Gate.io (secure and stable, high annual return):https://www.gate.io/margin/lend/USDT
C2C Trading on Gate.io:https://www.gate.io/c2c/usdt_cny
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Gate.io
May 1, 2019