Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list YDF and support deposit and withdrawal & Automated Market Making (AMM) on Oct 27, 2022 (UTC). And its trading pair YDF/USDT will be available on the same day.
1. Deposit: 07:00 Oct 27, 2022 (UTC)
2. Withdrawal: 07:00 Oct 27, 2022 (UTC)
3. Trading pair: YDF/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-09:50 Oct 27, 2022 (UTC)
Orders can be placed and canceled
09:50-10:00 Oct 27, 2022 (UTC)
Orders can be placed but cannot be canceled
10:00 Oct 27, 2022 (UTC)
Yieldification is a real yield NFT utility DeFi protocol offering up to 150% APRs using brand new (and actually useful) integration between ERC-20 fungible tokens and NFTs as certificates of deposit/stake receipts.
The protocol is building utility such as its unique approach to perpetual futures trading supporting a number of tokens as collateral and are building additional utility on top of NFTs to support sustainability of the protocol. They also use only the desirable yet sustainable concepts and tokenomics from some of the largest, most popular projects in the space (HEX, OHM, GMX, REFI, etc.). With the paired utility whose fees and usage will pay for staking utility long-term YDF was constructed and will thrive with growth, sustainability, and longevity in mind.
The protocol is built around the concepts of:
(1) Decentralized Certificates of Deposit (think HEX);
(2) With some of the highest sustainable yields you’ll find in crypto (think OHM but sustainable);
(3) Perpetual futures trading (against the single asset and unique, weighted indexes we build) supporting standard large cap/stable coins as collateral in addition to smaller/medium caps with reasonable yet sustainable yield vesting (think GMX);
(4) With additional native ETH rewards on top of existing high yield for stakes (think REFI);
(5) With upcoming revenue-generating utility;
(6) All built on top of brand new, first mover staking NFTs that serve as your certificates of deposit, but are transferrable and tradable on your favorite NFT marketplaces based on the current and future speculative value of the stake principal and yield being earned continuously.
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 26, 2022