Gate.io Exchange announce listing of Spherium (SPHRI) Token
Gate.io will be listing Spherium (SPHRI) in its Trading platform and open trading for SPHRI/USDT trading pair. The specific timeline is as shown below:
- Trading starts: Aug.18th, 20211
- Trading time: 1:00am UTC.
Deposit Spherium(SPHRI) at https://www.gate.io/myaccount/deposit/SPHRI
Trade Spherium(SPHRI) in USDT market via: https://www.gate.io/trade/SPHRI_USDT
Gate will open an Automated Market Maker (AMM ) for SPHRI, and launch an AMM “liquidity-mining” rewards. Users who provide market liquidity by inserting liqudity in will get rewards from liquidity pool transaction fee and GT token rewards from liquidity reward pool. High annual rate rewards with secure.
AMM Trading Market and AMM Liquidity Mining
Gate.io has launched a new version of the liquidity pool (centralized automatic 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.
About Gate.io
Gate.io is a Cryptocurrency Trading Platform Since 2013, Top ranking, Trustworthy, Transparent.
About Spherium:
Spherium offers a complete suite of financial services comprising of a universal wallet, token swap platform, money markets, and inter-blockchain liquidity transfer. Spherium will function as a global financial service provider, extending fundamental financial services to the unbanked.
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