Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list GEAR and support deposit and withdrawal & Automated Market Making (AMM) on Dec 23, 2022 (UTC). And its trading pair GEAR/USDT will be available on the same day.
1. Deposit: 10:00 Dec 23, 2022 (UTC)
2. Withdrawal: 10:00 Dec 23, 2022 (UTC)
3. Trading pair: GEAR/USDT
4. Opening method: Call Auction
a. Call Auction
10:00-10:50 Dec 23, 2022 (UTC)
Orders can be placed and canceled
10:50-11:00 Dec 23, 2022 (UTC)
Orders can be placed but cannot be canceled
11:00 Dec 23, 2022 (UTC)
Gearbox is a generalized leverage protocol. Gearbox has two sides to it: passive liquidity providers who earn low-risk APY by providing single-asset liquidity; and active farmers, firms, or even other protocols who borrow those assets to trade or farm with even x10 leverage.
Gearbox Protocol allows anyone to take DeFi-native leverage and then use it across various (DeFi & more) protocols. This enables users to compose their position as they want. Users take leverage with Gearbox and then use it on other protocols you already love: Uniswap, Curve, Convex, Lido, etc. For example, Users can leverage trade on Uniswap, leverage farm on Yearn, make delta-neutral strategies, hedge their exposure, get Leverage-as-a-Service for their structured product, and more.
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
Dec 23, 2022