Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list SNFT and support deposit and withdrawal & Automated Market Making (AMM) on Nov 15, 2022 (UTC). And its trading pair SNFT/USDT will be available on the same day.
1. Deposit: 07:00 Nov 15, 2022 (UTC)
2. Withdrawal: 07:00 Nov 15, 2022 (UTC)
3. Trading pair: SNFT/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-09:50 Nov 15, 2022 (UTC)
Orders can be placed and canceled
09:50-10:00 Nov 15, 2022 (UTC)
Orders can be placed but cannot be canceled
10:00 Nov 15, 2022 (UTC)
Spain National Football Team Token (SNFT) is a BRC-20 smart contract built on Bitcichain. With Token, Spain National Football Team gives fans the opportunity to participate in exclusive surveys and events, create digital collections, purchase NFTs, enjoy gamification and mission features linked to fan rewards, missions and great experiences.
SNFT, Spain National Football Team Bitci Technology Fan Token can be used in the following functions.
(1) Survey and Events
SNFT Token holders can participate in Paid and Free Surveys or Events on the Bitci Fan Token Platform.
(2) Loyalty Subscription
SNFT Token holders will be able to use Spain National Football Team Tokens to receive fan rewards, digital collectibles, loyalty points and more.
SNFT Token can be included in the Spanish Football Federation's potential future e-commerce ecosystem, used as payment for shopping payments, products, tickets, memberships and more using BitciPay or FanApp.
SNFT Token holders, including signed products, interact with the Spanish National Football Team on the Bitci Fan Token Platform to meet and greet one of the Players or Legends, one-on-one phone calls, entrance to the locker room, watch matches in VIP or similar areas, signed official products, limited edition products. collectibles etc. can take advantage of the benefits.
(5) Games and Quests
SNFT Token holders will have access to multiple missions and gamification features on the Bitci Fan Token Platform.
SNFT Token holders will be able to donate directly to their favorite team and receive a loyalty badge or nft in return.
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