Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list MOOV and support deposit and withdrawal & Automated Market Making (AMM) on Feb 15, 2023 (UTC). And its trading pair MOOV/USDT will be available on the same day.
1. Deposit: 07:00 Feb 15, 2023 (UTC)
2. Withdrawal: 07:00 Feb 15, 2023 (UTC)
3. Trading pair: MOOV/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-09:50 Feb 15, 2023 (UTC)
Orders can be placed and canceled
09:50-10:00 Feb 15, 2023 (UTC)
Orders can be placed but cannot be canceled
10:00 Feb 15, 2023 (UTC)
dotmoovs is a peer-to-peer competition platform powered by blockchain and a state-of-the-art AI system to analyse videos of players performing sports challenges.
Dotmoovs allows anyone to show their sports skills and compete with others around the world just by using their smartphone’s camera. And, like any good challenge, users can invest in themselves, win the competition and earn $MOOVs and NFTs.
Dotmoovs plans to democratize access to sports challenges. They want people from everywhere in the world to be able to compete within an environment that is free from currency value constraints, where a small USD fee can turn into a significant, burdensome barrier to overcome in another currency. The way to democratize access is by giving everyone a level playing field.
Athletes can collect $MOOVs and NFTs just by participating on challenges on the platform, growing their ranking position, or completing milestones. By staking $MOOV tokens or providing liquidity, athletes can unlock $MOOV rewards that can be collected based on their activity in the platform.
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 14, 2023