10 March 2023 19:14, UTC
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Mintlayer is a layer-2 solution that opens Bitcoin to decentralized finance (DeFi) and more. Users can autonomously swap bitcoin (BTC), through automatic swaps, for other tokens minted on the platform.
Gate.io to list ML
The ML token is for staking, governance, and powering the protocol’s ecosystem tools. Besides, the token is used for paying network fees. Projects wishing to issue tokens on the layer-2 platform must also pay issuance fees in ML.
On Mar. 23, Gate.io will officially begin supporting ML token depositing. Coincidentally, this day is when Mintlayer will officially initiate their token generation event (TGE), minting and distributing the token to users.
On this day, the protocol will release 15.82m ML tokens. The remaining tokens will be vested for different periods. However, after two years, 335m ML tokens will be unlocked. It will take 10 years for the total supply, 600m, to be released.
Holders who earned or purchased the coin would have the ML token reflected on their Gate.io dashboard. Those who earned the token, initially specifying their whitelisted address on Ethereum, can claim ML on their non-custodial wallets such as MetaMask.
Crowdfunding on Startup and trading
On Mar. 22 at 9 AM CET, Mintlayer said the token would be available on Gate.io Startup Launchpad.
This launchpad assists quality projects to raise funds and have their token listed on Gate.io.
As of Mar. 10, over 670 projects had been launched through the Startup, enabling more than 10.5m users to help companies raise over $89.5m.
Mintlayer aims to raise 100,000 USDT from Gate.io users who have been verified.
Startup investors won’t be levied a fee for their participation. Mintlayer will issue 5,000 shares. Each share will be sold for 20 USDT, and the buyer will be allocated 80 ML.
Mintlayer has also clarified that though the official depositing day begins on Mar. 21, traders must wait until official trading starts on Mar. 23 at 12 PM CET. The token will be paired with USDT, the world’s most liquid stablecoin in market capitalization.
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