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Gate.io Has Added New Points Management Functionalities

2020-09-21 18:00:35Read:33649

Gate.io has added a brand new point management center for the new points. You can view your points information and purchase more at the new point management center now. Transfer function is now only available for old points. Old points are phasing out at Gate.io and no free upgrade are allowed after September 1. To upgrade the old points after September 1, you are required to buy the same or more quantity of new points to be allowed to upgrade those old points to new points.

Explore the new functionalities at: https://www.gate.io/myaccount/point_manage
Or tap Points Management icon at Markets screen on Apps.

Starting on September 1sth, 2020, the following rules take effect:

1)Old points can only be used at fiat trading and lending sections. Old points are transferable to an account that hasn't upgraded to new points yet or started to use or purchase new points.
2)New points converted from old points have a valid duration of 2 years as over one year consumed when they were old points. After conversion, the terms surrounding the use of new points apply. They are not transferable and when debiting trading fee at spot or future tradings, they are not eligible for a further VIP discount.
3) If accounts holding old points wish to expand their use cases to crypto-to-crypto trading, they can buy a certain amount of new points no less than the old points in holding to be allowed to convert the old points to the new points. The converted new points expire in 2 years.
4) Converting old points to new points is a one -way only operation. You can not convert them back.
5) Institutional traders or professional traders can buy points as fee reserve to fix their trading costs. The new points purchased are valid for 3 years, starting from the purchase date. No VIP discount applies when using points at spot and futures trading.
6) We encourage users who do not purchase Points in advance to use GT when debiting fees to reduce their trading cost. Using GT can facilitate your VIP discount.
7) Starting from September, Gate.io points (new or old) consumed when debiting trading fees at Gate.io will be regarded as a source of income of Gate.io, based on which we will make our GT buyback and burn plans. We use point’ s fair price and average cost to calculate the amount of this source of income ( we use 0.3 USDT per point now)

Gate.io Team
September 21, 2020

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