YGEM and its Liquidity Building Event
Generation Finance was developed so that Yield Farming and Staking multiple liquidity pools is seamless by using their native tokens also known as YGEM.
YGEM tokens are trusted and invested by the Generation Finance platform users to purchase financial products. This will allow DeFi markets to be in the spotlight with the probability of massive positive returns on investments. They also have ideas to expand their protocol and launch other finance services which gel and aggregate other organizations to lend money and offer tokens in the DeFi space. These tokens are specifically offered to support the release and governance protocols for use in many different sectors which desire and require liquidity.
DECENTRALIZED LIQUIDITY POOLS
A liquidity pool is a broad term used to refer to cryptocurrency projects that are designed to enhance liquidity by creating a large pool of liquidity which allows swapping between assets instead of having set trading pairs.
UNISWAP
Uniswap is a completely decentralized automated liquidity protocol based on Ethereum. You can use Uniswap to trade between ETH or ERC-20 tokens on-chain. However, it’s what goes on behind the scenes to boost liquidity which is interesting.
Uniswap is a bunch of smart contracts that hold reserves of different ERC-20 tokens. People are able to become liquidity providers by depositing tokens to Uniswap in exchange for pool tokens, which are used to track how much has been deposited to the pool by each person. Pool tokens can be redeemed at any time.
THE BEGINNING OF SOMETHING EXCITING !
One of the leading projects in the DeFi space GENERATION.FINANCE and about to do host a Liquidity Building Event (LBE).
We have expected this for a long time now and recently Generation Finance has launched its very first YGEM distribution utilizing a system called Liquidity Building Event (LBE). The mechanism used for the Liquidity Building Event will be a major boost for creating new liquidity pools with other token pairs.
This being said, during the initial trial period, YGEM’s LBE smart contract will be collecting 995 ETH and 12,000 YGEM tokens from different participating users. All the tokens will go straight to the liquidity contract and will be deposited into the UNISWAP platform making YGEM tradable.
The next step is going to be the distribution of YGEM/ETH tokens to all the LBE participants. To achieve a fair distribution, early bonuses or developer shares were ruled out. Generation Finance and YGEM was designed to allow the addition of new capabilities or functionality. Thus the possible creation of new YGEM and 1% fee on trades.
GROWTH THROUGH LIQUIDITY
As this is our first LBE, YGEM is expected to expand and grow further, directly affecting the price floor and linking its value to an additional asset. A radical change will occur in the DeFi space via LBE and will bring even more possibilities to YGEM leading to a major stepping-stone and giving the team and the coin the trust factor it deserves while keeping it totally decentralised.
The token pair will be announced shortly. Be sure to follow us on Twitter and join our Telegram community to not miss the updates.
JOIN US TODAY !
Telegram community: https://t.me/generationygem
Twitter page: https://twitter.com/Generationfina2
