Gate is going to commence BitDAO(BIT) trading on Aug 17th, 2021 5:00am UTC.

About BitDAO:

BitDAO is banking on the success of DeFi and will allocate massive financial and talent resources to support DeFi growth.

1\ Research and Development

BitDAO partners will establish R&D centers to develop BitDAO core protocols (governance and treasury management), develop BitDAO DeFi products, support DeFi partners, and provide incubation services to emerging DeFi projects. We imagine that BitDAO affiliated R&D centers will employ hundreds of people in the coming years.

2\ Liquidity

BitDAO will control one of the largest pools of assets, which can be used to provide liquidity to partner protocols. BitDAO can bootstrap new protocols such as DEX, lending, synthetics.

3\ Funding

BitDAO will support blockchain technologies through grants (e.g. via Gitcoin), and support DeFi projects through token swaps.

Token symbol：BIT

Token Contract: 0x1A4b46696b2bB4794Eb3D4c26f1c55F9170fa4C5

Website：https://www.bitdao.io/

BitDAO(BIT)/USDT Trading starts: Aug.17th, 2021 5:00am UTC.

Deposit BitDAO(BIT) at https://www.gate.com/myaccount/deposit/BIT

Trade BitDAO(BIT) in USDT market via: https://www.gate.com/trade/BIT_USDT

Gate will open an Automated Market Maker (AMM ) for BIT, 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 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 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:

Fixed 0.3% commission fee for both Taker and Maker (temporarily consistent with Uniswap, subject to the needs of both market parties)
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.
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.
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.
Liquidity providers can take bonus and withdraw at any time

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Gate Team

Aug 17, 2021

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