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Statement on KIMCHI and SUSHI Liquidity Mining

2020-09-05 07:09:39Read:43998

Gate.io's 'HOLD & Earn' will launch KIMCHI and SUSHI DeFi liquidity mining soon. Users can participate in the campaign in the following ways:

Web Users: https://www.gate.io/hodl

Mobile Users: Markets>>HODL & Earn


Trading rules are as follows:

1) The 'HOLD & Earn' for KIMCHI and SUSHI will be available on Gate.io at the same time. Users can participate in them separately or in both.
2) KIMCHI and SUSHI liquidity mining involves an "impermanent loss." The interest will be distributed with the "impermanent loss" deducted.
3) To reduce the impact on the platform, the interest will be swapped for USDT in a decentralized platform before being distributed to users. A bigger portion of interest will be allocated to KIMCHI based on market situations.
4) As KIMCHI is seeing inflation at a faster speed, to avoid impact on the platform, we will close KIMCHI deposits. The current amount of KIMCHI deposits in Gate.io is 8,690,000.
5) Since the current DeFi market is changing rapidly, we will adopt 'PoS & Earn' for KIMCHI and SUSHI.
6) Unlike general blockchain mining, liquidity mining is seeing significant changes in daily mining earnings. Users should do their own research before making investments.

Attention: Please note that due to the intrinsic liquidity mining mechanism, the current token supplies of the two projects are quite large, subject to huge inflations. The prices of the tokens have been jumping a lot recently. Moreover, given decentralized projects might suffer from unexpected situations (i.e. project team runaway or assets being attacked), we do not recommend trading of the two tokens for non-professional investors. Please be cautious when making investment decisions. Gate.io is not liable for any financial loss incurred by investors.


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Sep 5, 2020









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