Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list ACX and support deposit and withdrawal & Automated Market Making (AMM) on Dec 1, 2022 (UTC). And its trading pair ACX/USDT will be available on the same day.
1. Deposit: 03:00 Dec 1, 2022 (UTC)
2. Withdrawal: 03:00 Dec 1, 2022 (UTC)
3. Trading pair: ACX/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-06:50 Dec 1, 2022 (UTC)
Orders can be placed and canceled
06:50-07:00 Dec 1, 2022 (UTC)
Orders can be placed but cannot be canceled
07:00 Dec 1, 2022 (UTC)
Across protocol is optimized for capital efficiency with a single liquidity pool, a competitive relayer landscape, and a no-slippage fee model.
There are some key roles in Across' system:
A user is someone who bridges assets between L2s and L1 with Across. Users pay relayers and liquidity providers in order to send their tokens instantly across networks that support their token.
(2) Liquidity Provider:
A liquidity provider or LP is an actor who deposits assets into one of the pools on Across.to/pool. Liquidity Providers insure user funds in exchange for fees.
Relayers give out short-term token loans to Users in exchange for fees. Relayers fulfill deposit requests by sending the depositor their desired token on their requested “destination chain”. Relayers will send the recipient the full deposit amount minus a relayer fee, meaning that they will keep the relayer fee as an incentive for crediting the depositor funds.
Dataworkers support stability and healthy functioning of the system by refunding relayers and moving system assets between networks.
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 30, 2022