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Statement on GT Collateral for DeFi Liquidity Mining

2020-09-02 05:04:36Read:67475

Recently, DeFi has become one of the wildest topics in crypto as liquidity mining comes with a high annualized interest rate. Despite the popularity, however, general users are barred from the high returns of liquidity mining due to the high threshold and high risks. Liquidity mining not only raises a high requirement for users on the management of private keys, but it is also likely to lead to unexpected situations (i.e. project team runaway or assets being attacked).

Gate.io introduced a POINT sales and GT reward scheme in 2019, receiving a warm response from our community. Thanks to this program, we have collected a lot of high-value blockchain assets, with the total value surpassing $100 million USD by now. To show appreciation for the continuous support of our users, Gate.io will take out $20 million USD worth of blockchain assets for DeFi liquidity mining. All earnings will be distributed to our users entirely, especially GT holders. Gate.io will not charge any additional fees. Specifically, part of the profits will be distributed to GT Lock-up & Earn users directly through an airdrop; the rest will be used as an incentive reward for the upcoming Gate/GateChain DeFi platform.

To guarantee asset security, Gate.io will only distribute the funds to widely verified and smart contract audited DeFi liquidity mining projects. Currently, those projects boast an annual interest rate from around 50% to 200% (with interest in CRV, YAM, or SUSHI).

Gate.io 'HODL & Earn' will launch "GT Lock-up & Earn (10 million GT)" soon. Please stay tuned!

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

Mobile Users: Markets>>HODL & Earn

Attention:

(1) Users' GT holding will not be affected if they participate in the "GT Lock-up & Earn." They are eligible to participate in campaigns and events held by the platform as usual.

(2) The DeFi explosion might indicate the presence of a big bubble. Due to the high market capitalization of DeFi projects, the annualized interest rate of liquidity mining is extremely high at the moment. However, with the market cooling down in the future, the price will drop to a reduced level, which might lead to the decline of mining profits. Please be aware of the related risks.

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Sep 1, 2020
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