TRAMS DEX to Extend the Migration Schedule from Uniswap
November 19, 2020
The much anticipated liquidity migration onto TRAMS DEX was temporarily put on hold for observation based on the recent -40% decline in Uniswap’s liquidity
In accordance with TRAMS community investors concern, TRAMS DEX has temporarily postponed our Uniswap liquidity migration that was originally scheduled for the 19th of November. As a part of risk mitigation structure, this temporary observation period was implemented to ensure maximum community investors’ safety and community protection.
Since November 17th, Uniswap ended their liquidity mining rewards program. This caused an abrupt liquidity withdrawal from Uniswap to the effect of -40% total value locked (TVL). This incident, together with blockchain being an evolving technology and DeFi being relatively new, TRAMS DEX team decided on best practice to mitigate any possible “unforeseen” adverse effects the liquidity avalanche may have triggered. The observation period would allow our blockchain and smart contract master developers to better prepare the migration process while allowing a reasonable period for Uniswap to resolve any reward refunds or lost settlement issues.
The 4 affected pools on Uniswap: ● TETH-USDC
● ETH WBTC
The current Uniswap liquidity pool (UNI V2 LP) tokens that were staked on TRAMS DEX continues to receive 2x BONUS REWARDS until March of next year (2021). Any pools on Uniswap listed on Trams DEX will continue to operate as normal.
(the 4 pools listed above may be exposed to unforeseen risk)
TRAMS DEX continues to provide yields with additional 2x REWARDS BONUS to all Uniswap LP tokens staked in our pools.
Stay tuned for our liquidity migration public announcement.