100K $ALN x Gate.io AMM Liquidity Mining Reward Pools with 2,391.9% Annualized Yield
To celebrate our recent integration of Gate.io onto the Aluna.Social trading terminal, Aluna has teamed up with Gate.io to launch a new Automated Market Maker (AMM) pool for ALN, with Liquidity Mining Rewards and annualized yield of up to 2,391.9% today.
Anyone can now easily become a market maker and earn attractive rewards! Get started here: https://www.gate.io/en/liquidity/aln.
On top of earning fees for being a liquidity provider (LP), a bonus of 50% of the ALN spot market trading fees are added to the AMM Reward Pool. We have also added 100,000 ALN to the AMM Reward Pool, to be distributed over the next month ending 8th October 2021, 3AM UTC.
ALN spot markets on Gate.io are now upgraded to support AMM pools, thus providing deeper liquidity, greater market depth, and lower slippage on both ALN pairs.
Gate.io AMM Pool and Liquidity Mining Rewards
Gate.io’s new centralized Automated Market Maker (AMM) service enhances the user experience, and enables coins like ALN to gain similar liquidity as Uniswap. This benefits users as they can now enjoy a low-cost and high-quality user experience similar to a DEX but without the high gas fees.
The liquidity mining feature enables any user to easily become a market maker, and earn income from trading fees by providing dual-asset liquidity to the market. By participating, you will help to create deeper liquidity and increase the depth of the order books of the ALN markets, thereby reducing slippage for all traders.
Learn more about Gate.io’s (AMM) Liquidity Mining for ALN.
ALN x Gate.io AMM-enabled Pools
New AMM pools for the ALN markets have been added on top of the existing spot markets, thus providing deeper liquidity, greater market depth, and lower slippage on both ALN pairs.
Annualized yield today is up to 2,391.9%. Click here to start earning now!
This AMM pool complements the spot trading market by adding an additional layer of liquidity. When a trader trades on the spot market, the order will now be matched against both sources of liquidity to provide the best price for the trader. If the AMM pool has a better price for the traders, then the pool will match the order. Otherwise, the order will be matched with the existing spot order book.
With this upgrade, the rules for the ALN markets are as follows:
- Fixed 0.3% commission fee for both Taker and Maker trades on the AMM pool. All trading fees generated by the AMM pool will be credited to the LPs.
- 50% of all trading fees generated by the existing spot trading market will be automatically converted into GT through the open market and added into the AMM Reward Pool. GT reward will be distributed linearly, updated per hour.
- 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.
- LPs 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.
- LPs can remove the liquidity at any time. When they remove the liquidity, the fee generated with the AMM liquidity pool will be given to the LP.
100,000 ALN Bonus for Gate.io AMM Reward Pool
In addition to the transaction fee and GT rewards in the AMM Reward Pool, LPs will also earn from a 100,000 ALN bonus pool which is shared equally between the ALN/USDT and ALN/ETH pools, and will be distributed over the next month.
- Start Time: 8th September 2021, 3AM UTC
- End Time: 8th October 2021, 3AM UTC
To participate, you will need to provide an equivalent value of ALN and USDT/ETH as liquidity to ALN pairs.
For more information, refer to the ALN AMM Liquidity Mining announcement on Gate.io.
About Aluna Social
Aluna.Social is a gamified social trading terminal for the web 3 world. Top traders are rewarded monetary and reputationally for sharing their trades, beginners can learn from and copy trade experts, and all traders can manage multiple exchange accounts from one place. Aluna.Social is currently integrated with 7 exchanges, including Gate.io, BitMEX, Binance, Bitfinex, Bittrex, Poloniex, and Valr, and has over 30,000 users.