Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list APEX and support deposit and withdrawal & Automated Market Making (AMM) on Feb 14, 2023 (UTC). And its trading pair APEX/USDT will be available on the same day.
APEX Services
1. Deposit: 07:00 Feb 14, 2023 (UTC)
2. Withdrawal: 07:00 Feb 14, 2023 (UTC)
3. Trading pair: APEX/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-09:50 Feb 14, 2023 (UTC)
Orders can be placed and canceled
09:50-10:00 Feb 14, 2023 (UTC)
Orders can be placed but cannot be canceled
b. Trading
10:00 Feb 14, 2023 (UTC)
About APEX
ApeX Pro wishes to deliver the best of social trading to traders without the presence of any intermediaries in the Web 3.0 realm. Incentivized for optimal cryptocurrency derivatives trading and performance, the infrastructure is designed to:
(1) Accelerate Web 3.0 social trading development and ensure deep liquidity on a network scaled for growing trades;
(2) Allow traders to openly engage with other traders on ApeX Pro to improve trading performance and earn trading rewards;
(3) Foster community ownership over trading history and other personal data records, thereby reducing the risk of compromised security;
(4) Incentivize user participation on the platform by the distribution of new reward token BANA;
(5) Fortify the social trading model with the use of SoulBound Tokens (SBTs), a non-transferable token representing a trader’s trading profile, patterns and history;
(6) Further solidify ApeX Protocol’s governance token APEX as a building foundation for other applications in the ecosystem.
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 Reminder
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
Feb 14, 2023