Berlin, Germany, Oct. 31, 2022 (GLOBE NEWSWIRE) -- THE protocol has recently announced the listing of its token $THE on Gate.io Start up, raising nearly $50M in community funding.
$THE token listing was supported by Gate's startup feature through an airdrop campaign of $100,000 value on the 25th of October.
Participation in the “Startup Sale” was open for users starting from VIP-0 level and a minimum amount of $500 value in assets. VIP-0 level users were offered a contribution share equal to 1/4 of the allocation for VIP-1 level users. Program is using a distribution model where the higher the VIP level, the higher the contributor’s share. A single Gate user was limited to 1000 shares.
At the beginning of the Sale, the valuation of $THE protocol was $0 with 9,723,190 total supply for $THE tokens. During the 17 hours of Sale THE Protocol raised nearly $50M from 15 916 investors. 10% of $THE token supply was allocated to Vitalik Buterin for its contribution, continuous support and inspiration of THE Protocol.
Gate.io exchange, one of the world’s largest and oldest cryptocurrency exchanges, has announced the $THE/$USDT pair available for trading starting at 10.00 a.m (UTC) October, 26.
$THE token listing on other major centralized exchanges
As of October 18, THE protocol emerged as the leading token based on its features, which included zero-tax, burned liquidity, and a renounced contract, which is more related to the theme of decentralization. As of October 20, major centralized exchanges such as MEXC, LBank, and Hotbit had already listed $THE. Centralized exchange listings benefit $THE by storing liquidity for the token to be traded on their platforms. Furthermore, these listings lend legitimacy to $THE's credibility and make $THE more accessible to retail traders.
$THE is also available on decentralized exchanges such as Uniswap and Sushiswap.
About THE Protocol
THE Protocol was inspired by a Twitter post of Vitalik Buterin, co-founder of Ethereum and has received much attention on social media.
Vitalik Buterin, co-founder of Ethereum, tweeted at the DeFi Community on October 14, 2022. He joked about naming a token "THE" in the tweet. Several DeFi developers launched projects across different chains immediately after the tweet. As of October 18, twenty-five contracts were deployed across the Ethereum and BSC Blockchains. THE protocol emerged as the leading token based on its features, which included zero-tax, burned liquidity, and a renounced contract, which is more related to the theme of decentralization and a reflection of Vitalik's vision for the crypto space.
$THE received over 85k Twitter mentions in less than 24 hours, and some of the most influential names in the crypto twitter space have openly expressed their support for the coin.
For more information on $THE, you can reach out via the following channels:
CONTACT: Media Contact: Name: Gunter Schneider Email: theProtocolVB (at) proton.me