$GEL Token Sale Date and Whitelist Opening

Starting now: Your chance to apply for the $GEL token sale whitelist

Gelato

Published in

Gelato Network

8 min readAug 19, 2021

Updated on August 22, 2021: The whitelist application form is now closed.

TL;DR:

The $GEL Token Sale will happen on September 13th, 2021
Only whitelisted addresses will be able to participate. In order to apply for the whitelist, submit the official application form (Update: The whitelist application form is now closed.)
The whitelist will close very shortly after reaching 10,000 successful applications
From these 10,000 applications, only 5,000 will be invited to complete the KYC process
Only individuals that successfully completed the KYC process will be eligible to participate in the token sale
For a list of countries that cannot participate in the sale, please see below the “KYC Criteria” section
Individuals who already received an email prior to this announcement and who don’t reside in one of the countries mentioned in the KYC Criteria section have a whitelist spot secured and will soon receive an email to complete the KYC process

Please Note:

Be cautious
Team members of Gelato Network will NEVER DM YOU FIRST or ask you for money on any platform. You should be very skeptical of any DMs received by anyone claiming to be a Gelato team member
Only trust Gelato Network’s official channels at the bottom of this announcement for information surrounding the token sale
$GEL will not be available until after the completion of the token sale on September 13th, 2021

GEL Token Sale Details

Whitelist Closing Date: The earlier of Saturday, August 28, 2021, or as soon as 10,000 applications have been reached
Token Sale Date: Monday, September 13th at 09:00 AM PDT / 06:00 PM CEST (Check your local time here)
Total Initial Supply: 420,690,000.00 GEL
Public Sale Token Allocation: 16,827,600.00 GEL (4% of the total initial supply)
Total Raise: $5,000,000.00
Public Sale GEL Price: $0.2971309
Last Private Sale GEL Price: $0.2971309
Mode: First come, first serve (FCFS)
Accepted Payment: ETH ($ amounts mentioned below will be converted to ETH equivalents based on a fixed ETH/USD rate shortly before the sale)
Venue: Self-hosted
Network: Ethereum Mainnet
Initial Circulating Market Cap: $2,900,000.00
Initial Fully Diluted Market Cap: $125,000,000.00

Pool Overview

Pool 1: Whale Pool 🐳

Total Amount: $3,000,000.00
Number of Tokens: 10,096,560.00 (2.40% of total supply)
Maximum Individual Allocation: $20,000.00
Minimum Individual Allocation: $5,000.00
Lock Up: 30% of tokens have no lock-up and 70% will be locked for 6 months

Pool 2: Dolphin Pool 🐬

Total Amount: $2,000,000.00
Number of Tokens: 6,731,040.00 (1.60% of total supply)
Maximum Individual Allocation: $4,000.00
Minimum Individual Allocation: $1,000.00
Lock Up: None

How to Get Whitelisted?

Community members can apply here ((Update: The whitelist application form is now closed) in order to register for a limited spot on the token sale whitelist. After reaching 10,000 successful applications, the whitelist will close and no further applications will be allowed to enter.

From those 10,000 applicants, 5,000 will be selected by the Gelato team based on applicants' responses in the application form and invited to complete the KYC process in order to participate in the sale.

In order to qualify for the whitelist the following tasks MUST be completed:

1) Follow Gelato on Twitter

2) Join Gelato’s Official Telegram or Discord

3) Fill in and submit the application form (Update: The whitelist application form is now closed.)

Whitelisting Requirements

All whitelist applicants will be checked for valid Ethereum Wallet addresses, Twitter handles and Telegram or Discord handles. Bot entries will be removed. Entries with duplicate identities will be disqualified. Entries that have not completed ALL the above tasks will be disqualified.

Only qualified users that meet all the relevant requirements can be whitelisted for the token sale.

Successfully whitelisted individuals will be contacted by email from tokensale@gelato.digital to complete the KYC process in order to be able to participate in the token sale. Restricted countries are mentioned below in the KYC Criteria section.

How do I get whitelisted for the Whale Pool?

Update: The whitelist application form is now closed.

Every community member who gets whitelisted and passes the KYC process will be eligible to participate in the Dolphin Pool. Participants in the Whale pool will be hand-picked by the team based on their past engagement with Gelato and potential future value they can add to the community.

In order to be considered for getting whitelisted for the Whale Pool, please:

Complete the normal whitelist application form and select the amount you want to invest as being no less than $5,000.00
Answer the questions on the whitelist application form to showcase why you would be a positive addition to the Gelato ecosystem

Whale Pool participants will be selected entirely at the discretion of Gelato.

GEL Token Distribution

❓ What are the lock-up periods of prior investors and the team?

Total Supply

The total supply will initially be 420,690,000 GEL. Two years after the initial token sale and then once every year thereafter, the community can vote on Proposals that can increase the total supply of Gelato tokens in order to continue incentivizing new participants to join the ecosystem to further grow and develop the protocol sustainably in the long run.

❓ What happens to the 50% of tokens allocated for community development?

50% of the total supply of Gelato tokens will be used to help sustainably grow the Gelato Network ecosystem over the next few years. The tokens will periodically be used to incentivize new participants, such as integration developers and Executors, to join and help grow the ecosystem. The Community Development tokens will be managed by the Gelato Digital GmbH.

❓Use of the raised funds

The funds raised from the public sale will be collected by the Gelato Digital GmbH. The company will use the funds to finance, as appropriate, its ongoing human resources, legal, business, marketing, and software and infrastructure development expenses. All these measures are taken in good faith and to be able to develop Gelato Network as a platform that rewards its contributors in the short and long term.

❓ What are the private financing round details

About Gelato Network

Gelato Network is the protocol for automated smart contract executions on public blockchains like Ethereum, Polygon, and Fantom. Gelato is used as the underlying infrastructure for developers to outsource their web3 DevOps needs to a decentralized network of bots that enables them to automate arbitrary smart contracts reliably and without them becoming the central point of failure.

More Information About Gelato Network

Please follow us on social media:

And our other official social media channels.

Gelato is featured in Cointelegraph | CoinDesk | Yahoo | The Defiant

KYC Criteria

You are not allowed to participate in the GEL token sale if you are located, incorporated, or otherwise established in, or a citizen or resident of:

Afghanistan, Angola, Aruba, Bangladesh, Belarus, Benin, Bhutan, Bolivia, Bosnia, Botswana, Brunei Darussalam, Burkina Faso, Burundi, Cambodia, Cameroon, Cape Verde, Central Africa republic, Chad, China, Comoros, Congo, Congo Democratic republic, Cote d’Ivoire, Cuba, Djibouti, Dominica, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Ethiopia, Gabon, Gambia, Ghana, Guatemala, Guinea, Guinea Bissau, Guyana, Haiti, Honduras, Iran, Iraq, Jordan, Kenya, Kyrgyz Republic, Laos, People’s Republic Lesotho, Lebanon, Liberia, Libya, Madagascar, Malawi, Maldives, Mali, Mauritania, Micronesia, Moldova, Mongolia, Montenegro, Mozambique, Myanmar, Nauru, Nepal, New Caledonia, Nicaragua, Niger, Nigeria, Niue, North Korea, Oman, Pakistan, Palestinian Areas, Papua New Guinea Reunion, Rwanda, Samoa, Sao Tome and Principe, Senegal, Serbia, Sierra Leone, Somalia, South Georgia, South Sudan, Sri Lanka, Sudan, Suriname, Swaziland, Syria, Tajikistan, Tanzania, Timor, Togo, Tonga, Trinidad and Tobago, Tunisia, Turkmenistan, Ukraine, Uganda, USA, Uzbekistan, Venezuela, Western Sahara, Yemen, Zambia, Zimbabwe.

Legal Note / Disclaimer

The party responsible for the GEL token sale will be Gelato Digital GmbH, Zug, Switzerland (“Gelato Digital GmbH”). No other entity or individual is liable to any person in relation to the GEL token sale. The expressions “we”, “us”, “our”, “Gelato”, and similar expressions above are to be construed accordingly.

The present communication is no offer to sell the GEL tokens, and any obligations of Gelato Digital GmbH in relation to the GEL token sale are subject to the entry of the participants into a token purchase agreement with Gelato Digital GmbH. Accordingly, Gelato Digital GmbH denies any liability in relation to the present communication.

Participants in the token sale cannot rely on any of the above information and must assess on their own, as the case may be together with their advisers, whether they are willing and in a position to bear the significant risks associated with a purchase of tokens, including the GEL tokens.

Gelato Digital GmbH reserves the right to change the above terms and conditions (including the point in time of the GEL token sale and the number and price of the GEL tokens available) at any time without prior notice. Furthermore, Gelato Digital GmbH reserves also the right to terminate the process leading to the GEL token sale, respectively the GEL token sale at all at any time.