Crypto exchange Gate io is launching a support fund to reduce the impact of negative events in the crypto winter.
With the FTX collapse, a liquidity crisis erupted in the cryptocurrency market. Strong projects and exchanges continue to work to provide liquidity. In the toughest times of the crypto bear market, a support came from Gate.io after Binance. Gate.io will launch a fund to support strong projects affected by the current processes.
$100 Million Support Fund from Gate.io
Gate.io has launched a $100 million liquidity support fund as a move to mitigate the negative effects of the bear market and ecosystem collapses.
Gate.io’s $100 million liquidity support aims to help crypto businesses stay focused on their business while being protected from market uncertainties. Eligible crypto projects will receive up to $10 million in funding primarily for market creation, i.e. providing liquidity for traders.
Lin Han, Founder and CEO of Gate.io, said:
“Unforeseen obstacles during the bear market should not negatively impact users and hinder innovation. Now is the time to work together to rebuild, protect users and strengthen the market.”
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