Gate 12th Crazy Wednesday: SOMI, Apple Prizes & 16% USDT Yield
Gate launched its 12th Crazy Wednesday event on November 12 (UTC+8), running until November 16. In this Crazy Wednesday campaign, users complete tasks to unlock blind boxes with 100% win rates, receiving SOMI tokens and luxury Apple prizes, including AirPods Pro 3, iPad Pro (M5) and MacBook Pro (M5). Alongside, Gate has introduced a 3-day USDT fixed-term product offering 16% annualized yield and has boosted the prize pool with 500,000 CC tokens. The blind box mechanic and high-yield USDT investment aim to boost platform engagement, SOMI token circulation and liquidity. Traders should monitor potential increases in SOMI demand and the impact of the USDT yield product on short-term liquidity.
Neutral
The Gate Crazy Wednesday event combines gamified blind boxes and a high-yield USDT deposit product, which can spur platform activity and increase demand for SOMI and CC tokens. Similar to past exchange promotions, such as Binance’s lottery events, user participation tends to temporarily boost trading volumes without long-term price appreciation. The 16% USDT yield may attract short-term capital, but the limited duration and low barrier to entry suggest any liquidity inflow is likely transient. Hence, while the event can support short-term SOMI demand, it does not fundamentally alter market dynamics, resulting in a neutral impact.