Dear CoinEx users,
To provide more trading options, after rigorous reviews, CoinEx will list BITCI at 07:00 on November 14, 2022 (UTC), and launch the “BITCI Online Bonus: Join Trading Volume Ranking, $4,000 Worth of BITCI For Grabs” promotion. The details are as follows.
1. Deposit: 07:00 Nov 14, 2022 (UTC)
2. Withdrawal: 07:00 Nov 14, 2022 (UTC)
3. Trading pair: BITCI/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-09:50 Nov 14, 2022 (UTC)
Orders can be placed and canceled
09:50-10:00 Nov 14, 2022 (UTC)
Orders can be placed but cannot be canceled
10:00 Nov 14, 2022 (UTC)
Bitcichain is the programmable decentralized blockchain network for smart contracts, crypto asset management systems, crypto asset storage and transfer services, fan tokens, real estate tokenizations, blockchain infrastructure products and services. It represents the value of Bitcichain blockchain and binds all products and services offered in the Bitci Ecosystem.
On the other hand, tokens of each project running on Bitcichain may easily be converted to Bitcicoin, and may be traded in Bitcicoin Market or other markets on different exchanges. Partners with many globally recognized organizations, sports clubs and brands including Brazil and Spain National Football Teams, McLaren Racing, and MotoGP, Bitci Technology's current and future tokenization projects will continue to add value to Bitcicoin.
BITCI, the mainnet coin of the Bitcichain blockchain, gains value with the Fan Token and NFT projects created on the Bitcichain blockchain. For the transfer of tokens on Bitcichain, the blockchain network fee is paid in BITCI.
The details of the “Join Trading Volume Ranking, $4,000 Worth of BITCI For Grabs” promotion are as follows.
1. Duration: 10:00 Nov 14, 2022 - 00:00 Nov 21, 2022 (UTC)
During the promotion, users who trade in the BITCI/USDT market with a trading value > 200 USD equivalent of BITCI can join the ranking. The top 50 users with the highest trading volume will share 900,000 BITCI rewards. The specific reward distribution is as follows.
Reward per user (BITCI)
Total reward (BITCI)
3. How to participate
(1) Apply for the promotion:
· Web: Click [🔥Promotion] - [CoinEx Tradeboard] on the navigation bar, enter the promotion page and click [Apply Now].
· App: Tap [Tradeboard] on the [Home] page, enter the promotion page and tap [Apply Now].
(2) Trade at least 200 USD equivalent of BITCI to join the ranking.
(3) Reward allocation: The reward will be allocated in 7 business days after the promotion.
4. Notes of Participation
(1) The rewards will be shared by the ranking in Spot trading volume. Cumulative trading volume = Buying volume + Selling volume in all selected markets during the promotion.
(2) Market Making accounts are not included in this event.
(3) FAQ About Spot Trading Volume Ranking
(1) CoinEx kindly reminds you that cryptocurrencies are innovative investment products with high investment risk due to price fluctuations. Please make sure to have a full understanding of digital assets before investing, rationally judge your investment ability, and make prudent decisions.
(2) Sub-accounts are not allowed to participate as independent accounts, and their trading volume will be included in the main accounts.
(3) During the event, should any cheating behavior be found, the user will be disqualified.
(4) CoinEx reserves the right of final interpretation of this promotion.
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 14, 2022