Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list MFT and support deposit and withdrawal & Automated Market Making (AMM) on Oct 20, 2022 (UTC). And its trading pair MFT/USDT will be available on the same day.
1. Deposit: 07:00 Oct 20, 2022 (UTC)
2. Withdrawal: 07:00 Oct 20, 2022 (UTC)
3. Trading pair: MFT/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-09:50 Oct 20, 2022 (UTC)
Orders can be placed and canceled
09:50-10:00 Oct 20, 2022 (UTC)
Orders can be placed but cannot be canceled
10:00 Oct 20, 2022 (UTC)
Hifi uses a bond-like instrument, representing an on-chain obligation that settles on a specific future date. Buying and selling the tokenized debt enables fixed-rate, fixed-term lending and borrowing — something much needed in decentralized finance today.
What can users do with the Hifi Lending Protocol:
- Borrow: Lock collateral in a vault to mint fixed-rate, fixed-term debt tokens. These debt tokens can be swapped for instant liquidity allowing users to leverage long, yield farm, or pursue other strategic trades without selling their collateral tokens.
- Lend: Buy fixed-rate, fixed-term debt tokens for a discount. When the term expires they can be redeemed for face value, earning lenders a predictable return on their investment.
- Provide Liquidity: Earn trading fees by providing liquidity between debt tokens and stablecoins on an Automated Market Maker (AMM).
Mainframe Token (MFT) is the native utility token that is used for:
- Governance votes
- Staking to ensure the safety of the protocol
- Rewarding contributors to the ecosystem
What is Automated Market Making (AMM)?
Automated market making (AMM) can calculate the buying and selling price according to the formula, so as to provide a continuous quotation for the market. CoinEx combines AMM with the order book, which means the liquidity pool will be automatically converted into the order book. With the "constant product market maker formula" algorithm in AMM, no matter how large the order book is or how small the liquidity pool is, firm liquidity provision to the market can be guaranteed. Learn more
Fees and Profit
Market supporting automated market making is an AMM market. Compared with normal market, AMM market adopts an independent fees system. The fees for both marker and taker is 0.3%, for market makers is 0.15%. VIP will not enjoy any special fees, and using CET for fees deduction is unavailable. All users are qualified to apply for market makers, and 50% of the market's transaction fees will be rewarded to liquidity providers.
Characteristics of AMM
1. Bonus obtainable from automated market making
User’s provided liquidity will be injected into the pool for automated market making. 50% of the market's transaction fees will be rewarded to liquidity providers in terms of the corresponding pool proportion.
2. Daily bonus can be cumulatively withdrawn
The transaction fee bonus will be calculated once a day and automatically credited into the user's Market Making Account before 4:00 (UTC) the next day. The user can obtain all the accumulated fee bonus after removing liquidity.
3. Free access, no charge required
Assets between Spot Account and Market Making Account can be transferred in real-time by adding and removing liquidity. Each user in a single market can increase liquidity twice a day, and no fees will be charged during the operation.
The assets in the Market Making Account will be injected Into the liquidity pool for automated market making. When the price fluctuates, there will be impermanent losses, and the amount of the two assets will change when the liquidity is removed. More details about impermanent losses
Oct 20, 2022