GAT Network Update: Binance Labs Incubation, Growth Fund

GAT Network joins the 3rd season of Binance Labs Incubation Program and updates their community on Growth Fund details.

November 19, 2021

Big News for GAT

The core team of GAT Network is looking forward to working with expert mentors, expanding its network & partnerships and achieving new ambitious milestones after joining the Binance Labs Incubation Program. The acceptance into the program means significant support for further advancement and also a prospect for more assistance in the future

Other Progress Initiatives

At the same time, GAT Network announced additional measures to bring its projects to the next level. 

In order to on-board future investors and create a Growth Fund, the GAT token will be relaunched with an extended total supply (2 MM tokens). The circulating supply will NOT be affected in the short term, though! Check out the full story on the GAT Network Medium.  

A new GATe token will be launched with a 2MM token supply and a possibility to swap 1:1 from GAT to GATe.

GAT Network Growth Fund

GATe is launched with a serious Growth Fund that is fully transparent. The reserved purposes of the fund are: 

  • Top-tier CEX listing (e.g. Binance) — provide tokens for listing
  • Key strategic partnerships (e.g. use tokens for special joint-venture events)
  • Key strategic marketing (e.g. as rewards/giveaway on strategically crucial marketing events)
  • Key investors - Long-term locking
  • Reward system - Plans to add/improve rewards systems — especially in Minted Vodka — that incentivize activity over the next months/years
  • Challenges / Giveaways - Smaller amounts of GATe could be used in continuous engaging marketing events
  • Incentives for new core team-members - Locked token payments to the new team members

These tokens will only be used in the best interests of the GAT ecosystem and their distribution to the market shall be carefully extended over a longer time-period — preventing any market-overflow through a sharp increase in circulating supply.

The founding team locks all their tokens for 5 years (locked for 1 year + 4 years linear vesting).

For more details visit the official announcement on Medium and the updated tokenomics. Follow GAT Network on Twitter and join their Telegram group to get the latest news from the project.

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