Recently, DeFi has become one of the wildest topics in crypto as liquidity mining comes with a high annualized interest rate. Despite the popularity, however, general users are barred from the high returns of liquidity mining due to the high threshold and high risks. Liquidity mining not only raises a high requirement for users on the management of private keys, but it is also likely to lead to unexpected situations (i.e. project team runaway or assets being attacked).
To show appreciation for the continuous support of our users, Gate announced it would take out $20 million USD worth of blockchain assets for DeFi liquidity mining. All earnings will be distributed to our users entirely, especially GT holders. Gate will not charge any additional fees. Specifically, part of the profits will be distributed to GT Lock-up & Earn users directly through an airdrop; the rest will be used as an incentive reward for the upcoming Gate/GateChain DeFi platform.
The "Gate GT Lock-up & Earn - DeFi Liquidity Mining #1" was launched on 04:00 AM GMT September 2nd, 2020. With a total amount of 10 million GT to be locked up, the first GT Lock-up & Earn was sold out within two minutes after launch.
To cater to user demands, Gate will be launching another round of GT Lock-up & Earn, starting on the 3rd of September, 4:00 AM GMT. Total amounts to be locked are 10 million GT, with an annual interest rate of 50% to 200%. Users can participate in the event in the following ways:
Web Users: https://www.gate.com/hodl
Mobile Users: Markets>>HODL & Earn
Attention:
The DeFi explosion might indicate the presence of a big bubble. Due to the high market capitalization of DeFi projects, the annualized interest rate of liquidity mining is extremely high at the moment. However, with the market cooling down in the future, the price will drop to a reduced level, which might lead to the decline of mining profits. Please be aware of the related risks.
Trading Rules
- Token to be locked up: GT
- Zero handling fee
- Annual interest rate of around 50%-200%
- Start on 04:00 AM GMT September 3rd, 2020
- Principals will be distributed after the lock-up period; interest will be distributed on a daily basis and obtained through the liquidity mining token, such as CRV, SUSHI
- End on 06:00 AM GMT October 1st, 2020
- Users' GT holding will not be affected if they participate in the "GT Lock-up & Earn." They are eligible to participate in campaigns and events held by the platform as usual.
- The DeFi explosion might indicate the presence of a big bubble. Due to the high market capitalization of DeFi projects, the annualized interest rate of liquidity mining is extremely high at the moment. However, with the market cooling down in the future, the price will drop to a reduced level, which might lead to the decline of mining profits. Please be aware of the related risks.
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Sep 2, 2020
