Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list JONES and support deposit and withdrawal & Automated Market Making (AMM) on Feb 24, 2023 (UTC). And its trading pair JONES/USDT will be available on the same day.
JONES Services
1. Deposit: 07:00 Feb 24, 2023 (UTC)
2. Withdrawal: 07:00 Feb 24, 2023 (UTC)
3. Trading pair: JONES/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-09:50 Feb 24, 2023 (UTC)
Orders can be placed and canceled
09:50-10:00 Feb 24, 2023 (UTC)
Orders can be placed but cannot be canceled
b. Trading
10:00 Feb 24, 2023 (UTC)
About JONES
Jones DAO is a yield, strategy, and liquidity protocol with vaults that enable 1-click access to institutional-grade strategies.
Jones DAO offers vaults for multiple tokens and various risk profiles. Jones generates yield on the tokens deposited in Jones Vaults through its strategies. With 1 click, users are able to access some of the best yields in DeFi. Its strategies unlock liquidity and capital efficiency for DeFi through yield-bearing tokens. The aim of Jones Vaults is to generate yield with sophisticated strategies. The token accretion of the vaults is denominated in the native vault token, with the goal being to accumulate more of that token over time.
There are three main categories of users Jones DAO is built for:
(1) Users who don't want to actively manage their strategies and/or would like to utilize the strategies deployed by the vaults.
(2) Users who would prefer not to lock their tokens, but rather keep their tokens liquid.
(3) Protocols that want to earn additional yield on their treasury positions.
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.
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 24, 2023