Gate.io is going to commence Evrynet(EVRY) trading on October 20th, 2021 at 13:00 PM(UTC).
About Evrynet:
Evrynet is creating a CeDeFi platform that allows other financial services applications to be built on. The chain uses Tendermint consensus and focuses on creating a high-speed, interoperable, secure and regulator-friendly chain. The project is regionally focused on Southeast Asia which has over 435m unbanked/underbanked population and will look at ways to address the gap in financial services through launching several dApps in the future. The first dApp we’re launching is a decentralized exchange called Evry.Finance which will look to bring institutional liquidity and CeFi assets into DeFi. Together with EvryHub (interoperability product), Evry.Finance will evolve to be next generation CeDeFi interexchange that can process transactions at high speed.
Token symbol：EVRY
Website：https://evrynet.io
Evrynet(EVRY) Trading starts: October 20th, 2021 13:00 PM(UTC).
Deposit Evrynet(EVRY) at https://www.gate.io/myaccount/deposit/EVRY
Trade Evrynet(EVRY) in USDT market via: https://www.gate.io/trade/EVRY_USDT
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Gate will open an Automated Market Maker (AMM ) for EVRY, 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 20th, 2021
