UGM is a mechanism that an arbitrage crypto exchange uses to incentivize user activity and increase liquidity on its platform. The UGM token can be used on the exchange for trading and staking.
Here is a brief explanation of the key points:
UGM to pay trading fees: This means that users can use UGM tokens to pay fees for making trades on the exchange.
Receive a plus commission when trading limit orders: This means that users can earn a percentage of the commissions that the exchange earns on trades made using limit orders. Percent plus commission is charged to users based on their staking of UGM tokens.
Token staking in a staking pool: Users can stake their UGM tokens in a staking pool on the exchange. For this, they earn interest, which users can use at their discretion. This could be one way to encourage staking participation and increase the liquidity of the UGM token on the exchange.
Release date: 2022-10-13
Free float: 50,000,000
In the Staking Pool: 950,000,000