Gate.io is going to commence Scallop (SCLP) trading on October 28th, 2021 11:00AM UTC.
About Scallop:
Scallop is an innovative fintech eco for users that want a faster, more efficient way to securely manage their crypto + fiat in a single place.
Scallop combines decentralised financial services with banking features such as banking accounts, cards, remittance and much more - all aimed at promoting the general usage of crypto in daily life.
Scallop’s mission is to bring digital assets into mainstream use and accelerate the transition to a more equitable and decentralised eco.
Token symbol: SCLP
Website：https://scallopx.com/
Scallop (SCLP) Trading starts: October 28th, 2021 11:00AM UTC.
Deposit Scallop (SCLP) at
Trade Scallop (SCLP) in USDT market via:https://www.gate.io/trade/SCLP_USDT
Trade Scallop (SCLP) in ETH market via: https://www.gate.io/trade/SCLP_ETH
Gate.io is a Cryptocurrency Trading Platform Since 2013
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Gate will open an Automated Market Maker (AMM ) for SCLP, and launch an AMM "liquidity-mining" rewards. Users who provide market liquidity by inserting liquidity in will get rewards from the liquidity pool transaction fee and GT token rewards from the liquidity reward pool. High annual rate rewards with security.
AMM Trading Market and AMM Liquidity Mining
Gate.io has launched a new version of the liquidity pool (centralized automated market maker (AMM) transaction service) on August 1st, 2021: allowing most of the new currency and non-mainstream currency markets to obtain the same liquidity advantage as Uniswap, and allows users to enjoy the low-cost and high-quality user experience of the centralized platform. Gate.io will continue to add different currencies, please pay close attention to follow-up announcements.
The rules for markets to upgrade to the Automated Market Maker (AMM) model are as follows:
1) Fixed 0.3% commission fee for both Taker and Maker (temporarily consistent with Uniswap, subject to the needs of both market parties)
2) A fixed percentage (such as 50%) of the transaction fee will automatically be changed into GT through the open market and put into the AMM Reward Pool.
3) Anyone can become a liquidity provider (LP) and get the transaction fee rewards from the liquidity pool and the GT rewards that are invested in the liquidity bonus pool.
4) Liquidity providers provide liquidity to the market, but they need to bear in mind the risk of impermanent losses. For example, if the market price doubles, the impermanence loss is about 7%, and if the market price drops back to the original point, the impermanence loss disappears.
5) Liquidity providers can take bonus and withdraw at any time
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Gate.io Team
October 28th, 2021
