Gate.io is going to commence Knit Finance (KFT) trading on Sep 2nd, 2021 1:00PM UTC.
About Knit Finance:
Knit
Finance is the first wrapped protocol for creating cross-chain wrappers
for multi-class assets on multiple-chains. Deposit to insured custody
and mint wrapped kAssets on any chain users want. This opens up DeFi for
the next Trillion dollars of assets while reducing congestion on
Ethereum and helping DeFi take root on other chains. All the assets
deposited are real-world insured, hence opening scope for large-scale
deployment at minimal risk for individuals and institutions.
Token symbol：KFT
Website：https://knit.finance/
Contract：0xEF53462838000184F35f7D991452e5f25110b207
Knit Finance (KFT)Trading starts: Sep 2nd, 2021 1:00PM UTC
Deposit Knit Finance (KFT) at https://www.gate.io/myaccount/deposit/KFT
Trade Knit Finance (KFT) in USDT market via: https://www.gate.io/trade/KFT_USDT
Trade Knit Finance (KFT) in ETH market via: https://www.gate.io/trade/KFT_ETH
Gate.io is a Cryptocurrency Trading Platform Since 2013
Top ranking, Trustworthy, Transparent
Gate
will open an Automated Market Maker (AMM ) for KFT, 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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Top ranking, Trustworthy, Transparent
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Gate.io Team
Sep 2, 2021
