Let me explain in detail: On January 20th, at 8:00 AM, the Musk-issued Tesla token subscription rules will be launched. If the subscription is not fulfilled, the token will not be listed, and the funds will be refunded uniformly. These rules are officially announced by Gate.io. If you are unsure, you can contact customer service for specific details. Therefore, there is no issue of "cutting leek" (exploiting investors). If the token cannot be listed, the Gate.io official system will automatically refund the money to the buyers.

Token Subscription ( 3 phases ):
Phase One: Support users to participate in token subscription using spot account GT. During the subscription phase, ( not in the last 15 minutes ) users can subscribe and redeem at any time. The maximum subscription amount per account is 500 GT, with each subscription or redemption not less than 1 GT.

Phase Two: In the last 15 minutes before the end of the token subscription, only redemption is supported; no new subscriptions are allowed.

Phase Three: After the token subscription ends, the listing of the token will be decided based on the subscribed GT amount. If the token is successfully listed, the page will automatically redirect to the corresponding Alpha token details page and open trading; if not listed, the subscription fails, and the page will automatically close.

Token Airdrop: Tokens will be airdropped proportionally based on each user's subscription share. The airdrop will be sent directly to the Alpha account ( without manual claim ), processed in the order of users' first subscription time.

Funds Refund: After the token subscription ends, if the subscribed GT amount does not reach 1,000 GT, the full amount of the subscription funds will be refunded to the user. If the subscribed GT exceeds the target, the excess amount will be refunded. Refunds will be automatically returned to the spot account without manual claiming.

Adding Liquidity: After the token subscription ends, if the subscribed GT reaches 1,000 GT, the platform will automatically pair the actual subscribed GT ( minus the refund portion ) with 500 million KOL tokens ( representing 50% of the total supply ) and add it to the Gate Swap liquidity pool, enabling the KOL token to be officially listed and support free trading. Airdropped tokens obtained by participants can also be traded immediately.

On-chain Fees: Each time a user performs a subscription or redemption, they need to pay an on-chain token fee ( fixed at 0.01 GT, supporting GT and USDT ).

Note: The platform does not charge any fees other than the "on-chain fee." All GT participating in the subscription will be used to add liquidity to Gate Swap.