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

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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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Gate.io Team

Sep 2, 2021