- Gate.io announced the launch of their Industry Liquidity Support Fund on Twitter.
- The crypto exchange has allotted $100M to support the crypto industry stakeholders.
- Gate.io mentions that the industry liquidity support fund has three features.
Yesterday, Gate.io, a crypto exchange, announced the launch of its Industry Liquidity Support Fund on Twitter. The crypto exchange has allotted $100 million to support the crypto industry stakeholders.
According to the announcement, the $100 million will support all worthy market makers, high-frequency trading institutions, high-quality listing projects, and other institutional clients or HNW individuals, including but not limited to Gate.io or other platforms from the industry.
Mentioning the highlights, Gate.io explained that the Industry Liquidity Support Fund will be assigned based on three criteria: eligibility, funding, and usage of funds.
In the matter of funding, the crypto exchange informs that up to $10 million equivalent token funding support will be given. The crypto exchange further explains that the usage of funds will be allocated for market making/trading in Gate.io’s spot and futures markets, and can be used independently within the scope of risk control.
Furthermore, Gate.io explains that there are no deadlines and the funding amount could be further increased at any time depending on the market conditions.
Concluding, Gate.io promised to continue to provide users with high-quality products, services, and trading experiences. The crypto exchange stated that in the future, Gate.io will focus on strategic measures to ensure the security of funds and the management of user assets.
At press time, the global crypto market cap is at $839.52 billion and has observed a 1.58% fall in the past 24 hours. CoinMarketCap has observed the total market volume over the last 24 hours is $39.68 billion with a 7.35% surge.
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