Cryptonovae to rebalance Uniswap Liquidity in anticipation of upcoming CEX listing
The Cryptonovae team has decided to remove some of the liquidity currently supporting the Uniswap YAE/ETH pool and repurpose it to a market maker who will take ownership over managing the price action on an upcoming centralized exchange where the YAE token will be listed.
The decision was made in light of relatively low volumes on Uniswap and the growing need to bring in additional exposure to the YAE token and as such the Cryptonovae platform. Naturally, most of the liquidity will remain in the pool to continue supporting the decentralized community and users who prefer trading on Uniswap.
PancakeSwap liquidity will not be affected at this time.
At the time of writing, before any liquidity rebalancing has happened, the situation looks as follows:
- Total Liquidity: $183 767
- Volume (24hrs): $7,270
Cryptonovae owns roughly 96% of the entire liquidity pool on Uniswap which amounts to assets worth approximately $175k. From the total Uniswap liquidity, 30% will be withdrawn this Monday (September 19th, 2022).
Both ETH and YAE tokens will be used exclusively toward new centralized exchange listings and supporting market maker operations.
The community and interested parties can follow the process by watching the Uniswap YAE/ETH LP token contract address on Etherscan.
In general, we expect a reasonable increase of interest in the project, as a result of near future listings and as such invite the community to be vigilant and help answer questions, provide guidance, and work together with moderators to make sure all new YAE token holders find a place within our community.
There are great things on the way, and we are beyond excited to share them with you. We appreciate the support from each and every community member and welcome your praise or criticism (hopefully constructive) on our official discord channel.
About Cryptonovae
Cryptonovae is an all-in-one trading ecosystem to manage digital assets across multiple cryptocurrency exchanges. It provides users with a sophisticated trading experience through advanced charting features and trade management — intuitive, homogenous, and easy to use for traders at all levels of experience.
With its integrated marketplace for automated trading systems, signals, and trading tools, Cryptonovae provides an all-encompassing and state-of-the-art trading experience. Its very own utility token YAE serves as a central piece to the ecosystem, allowing users to engage with the ecosystem through its core function as native payment.
To learn more about Cryptonovae check out below and don’t forget to subscribe to our newsletter here.
Official links
Investing in YAE tokens involves the risk of a partial or total loss of the investment. There can be no assurance as to the liquidity of the tokens acquired during the offer, the existence of a secondary market for such tokens, the value of the tokens acquired during the offer, and the equivalent value of these tokens in foreign currency.
The YAE tokens do not constitute financial instruments within the meaning of European regulations (MIFID) and do not confer any other rights than those described in our pitch deck and technical white paper. In addition, the regulatory framework applicable to the offer and to the tokens and the tax regime applicable to the holding of the tokens is not currently defined in certain jurisdictions
