Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list MNDE and support deposit and withdrawal & Automated Market Making (AMM) on Feb 10, 2023 (UTC). And its trading pair MNDE/USDT will be available on the same day.
1. Deposit: 07:00 Feb 10, 2023 (UTC)
2. Withdrawal: 07:00 Feb 10, 2023 (UTC)
3. Trading pair: MNDE/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-09:50 Feb 10, 2023 (UTC)
Orders can be placed and canceled
09:50-10:00 Feb 10, 2023 (UTC)
Orders can be placed but cannot be canceled
10:00 Feb 10, 2023 (UTC)
Marinade.Finance is a non-custodial liquid staking protocol built on Solana. You can stake your SOL tokens with Marinade using automated staking strategies and receive "marinated SOL" tokens (mSOL) that you can use in decentralized finance (DeFi). The price of mSOL goes up relative to SOL each epoch with rewards being accrued into the underlying staked SOL.
Blockchains use consensus protocols in order to validate transactions in a secure and decentralized way. When you stake (lock) your SOL tokens to a validator, you are helping to secure the network and participating in the decentralization of Solana. In return for locking your SOL, you receive rewards in SOL. For the decentralization and the security of the Solana blockchain, we need as much SOL as possible staked to efficient validators. With the growing number of use cases for SOL in DeFi, a fair amount of SOL is still not staked and used daily in DeFi.
Marinade offers you the possibility to stake your SOL in exchange for mSOL that you can use in DeFi while still enjoying the staking rewards. The SOL that you are staking with Marinade is spread among more than 450 validators, excluding the so-called "security group" (top 25 validators). Validators are chosen by our transparent, permissionless formula and automatically rebalanced.
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
Feb 9, 2023