Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list KAS and support deposit and withdrawal & Automated Market Making (AMM) on Nov 10, 2022 (UTC). And its trading pair KAS/USDT will be available on the same day.
1. Deposit: 07:00 Nov 10, 2022 (UTC)
2. Withdrawal: 07:00 Nov 10, 2022 (UTC)
3. Trading pair: KAS/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-09:50 Nov 10, 2022 (UTC)
Orders can be placed and canceled
09:50-10:00 Nov 10, 2022 (UTC)
Orders can be placed but cannot be canceled
10:00 Nov 10, 2022 (UTC)
Kaspa is a blockDAG digital ledger enabling parallel blocks and instant transaction confirmation. Transactions sent to miners can be included immediately in the ledger, which is structured as a revolutionary blockDAG.
Kaspa is based on the GhostDAG/PHANTOM protocol, a scalable generalization of Nakamoto Consensus (bitcoin consensus). Its design is faithful to the principles Satoshi embedded into Bitcoin — proof-of-work mining, UTXO-formed isolated state, deflationary monetary policy, no premine, and no central governance.
GhostDAG is a proof-of-work consensus protocol that generalizes Nakamoto’s chain into a directed acyclic graph of blocks ( blockDAG). GhostDAG incorporates”orphan” blocks into the chain to form a blockDAG, and then uses a novel greedy algorithm to order the blocks such that well-connected, honest blocks are favored, quickly and with high probability. GhostDAG allows Kaspa to circumvent the traditional tradeoff of blockchains, improving on block rate by orders of magnitude while maintaining the security guarantees of Bitcoin.
Kaspa is unique in its ability to support high block rates while maintaining the level of security offered by proof-of-work environments. Kaspa’s current mainnet operates with 1 block per second. After the ongoing rust language rewrite, the core developers goal is to increase the number of blocks per second substantially, thereby attracting L2 development of smart contracts and DeFi.
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
Nov 9, 2022