Gate Event Contracts are officially live. New users’ first order includes Loss Coverage, with a total $20,000 reward pool to be shared

Gate News: According to Gate’s official announcement, Gate’s lightweight new product, Event Contracts, has officially launched. The platform is temporarily running a “Newcomers’ First Order Loss Coverage” campaign. During the event, users can split a total $20,000 airdrop reward by trading the event’s Futures contracts. Event Contracts are trading products that primarily determine outcomes based on price direction. Users need to determine the price trend of assets such as BTC, ETH, and others over time horizons like 5 minutes and 15 minutes, then choose to trade either bullish or bearish.

The event runs from 2026-07-27 10:00 to 2026-08-01 00:00 (UTC+8). The reward mechanism is First Order Loss Coverage. Based on the order in which trades are placed by time, the first 4,000 users whose first trades result in a loss can receive compensation. Payouts are issued based on the actual loss amount, capped at $5 per user.

In addition, Gate’s event contracts launch celebration contest is also underway: profits from doubled first-order loss coverage can be used to share a $50,000 prize pool.