Gate.io will list Tranchess(CHESS)
Gate.io is going to commence Tranchess(CHESS) trading on Aug 24, 2021 09:00 UTC.
About CHESS:
CHESS is the native currency of the Tranchess Metaverse. CHESS is a coin with the main function of creating new monsters. When they are created, they burn CHESS, meaning at all times it is a deflationary currency.
Token symbol: CHESS
Website: https://tranchess.com/
Contract: 0x20de22029ab63cf9a7cf5feb2b737ca1ee4c82a6
Tranchess(CHESS)/USDT Trading starts: Aug 24, 2021 09:00 UTC
Deposit Tranchess(CHESS) at https://www.gate.io/myaccount/deposit/CHESS
Trade Tranchess(CHESS) in USDT market via: https://www.gate.io/trade/CHESS_USDT
Trade Tranchess(CHESS) in ETH market via: https://www.gate.io/trade/CHESS_ETH
Gate will open an Automated Market Maker (AMM ) for CHESS, 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.
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Gate.io Team
Aug 24, 2021
