Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list BFT and support deposit and withdrawal & Automated Market Making (AMM) on Nov 17, 2022 (UTC). And its trading pair BFT/USDT will be available on the same day.
BFT Services
1. Deposit: 07:00 Nov 17, 2022 (UTC)
2. Withdrawal: 07:00 Nov 17, 2022 (UTC)
3. Trading pair: BFT/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-09:50 Nov 17, 2022 (UTC)
Orders can be placed and canceled
09:50-10:00 Nov 17, 2022 (UTC)
Orders can be placed but cannot be canceled
b. Trading
10:00 Nov 17, 2022 (UTC)
About BFT
The Brazilian National Football Team Token (BFT) is a BRC-20 smart contract built on Bitcichain. With Token, the Brazilian National Football Team offers fans the opportunity to participate in exclusive surveys and events, create a digital collection, purchase NFT, receive fan awards, and participate in games and task attributes linked to roles and great experiences.
The BFT National Football Team Bitci Technology Fan Token can be used in the following functions.
(1) Survey and Events
Holders of BFT Token can participate in a Paid, Free Survey or Activities on the Bitci Fan Token Platform.
(2) Loyalty Subscription
Holders of BFT Token will be able to use the Brazilian National Football Team Token to win fan awards, digital collections, loyalty points and more.
(3) E-Commerce
The BFT Token can be added to the future e-commerce ecosystem of the National Football Team in Brazil. It can be used as a payment for shopping payments, products, tickets, memberships and more by utilizing BitciPay or FanApp.
(4) Advantages
BFT Token holders can take advantage of the benefits such as interacting with the Brazilian 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, watching matches in VIP or similar areas, signed official products, limited edition products, including signed products, collectibles etc.
(5) Games and Quests
Holders of BFT Token will have access to several missions and gamification features on the Bitci Fan Token Platform.
(6) Donation
BFT Token holders will be able to make a donation directly to the team they like 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.
Risk Warning
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
CoinEx Team
Nov 17, 2022