DeFi Daily News，September 21st, 2020
- According to the ChainNews, the DeFi project Yam Finance (YAM) said on Twitter that the migration to YAM v3 has already begun, and users do not need to rush to migrate, and will begin to distribute rewards to the migrated tokens and principals as the migration progresses . YAM rewards in the YAM / yUSD pool will be distributed from 4 AM tomorrow. YAM further stated on Twitter that when the migration started, the only supported liquidity pool was the incentive-type Uniswap YAM/yUSD fund pool. During the rebase period, all other pools will be unsafe. The first rebase will be performed at 4:00 AM Beijing time on September 22.
2. Bitcoin has lost its market momentum. Meanwhile, the amount of cryptocurrency locked in decentralized exchange Uniswap was nearly doubled on Friday. Bitcoin (BTC) trading around $10,867 as of 20:00 UTC (4 p.m. ET). Slipping 0.42% over the previous 24 hours, which trading range was between $10,812 and $11,039.
3. Coingecko data shows that the ETH/USDT trading pair on Uniswap fluctuates at a depth of USD 5,512,912 when the price fluctuates 2%. In contrast, the Binance Exchange ETH/USDT trading pair fluctuates at a depth of USD 1,708,071 when the price fluctuates 2%, which means The slippage of ETH transactions on decentralized exchanges is better than that of centralized exchanges. - 4. According to BlockBeats news, on the evening of September 20th, DODO, a decentralized trading platform, released the “Announcement on the First Phase of Mining and 1DO Preview”. In order for early supporters to have time to allocate more tokens, DODO decided to extend the first phase of mining by 7 days, and the number of blocks officially ended to 10,959,000 (approximately evening on September 29, Beijing time). The DODO tokens mined in the first phase will be released on the 7th day of 1DO, and will be released linearly in blocks within 6 months. The first time for DODO tokens to provide liquidity is September 29, 2020.
DODO tokens will be launched on the DODO trading platform (app.dodoex.io) on Ethereum in a new way of asset issuance-the vending machine model. The purpose of the 1DO of the DODO token is the price discovery of new assets and the provision of initial liquidity. 1% of the total tokens will be used for DODO 1DO.
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