Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list DAG and support deposit and withdrawal & Automated Market Making (AMM) on Mar 1, 2023 (UTC). And its trading pair DAG/USDT will be available on the same day.
1. Deposit: 07:00 Mar 1, 2023 (UTC)
2. Withdrawal: 07:00 Mar 1, 2023 (UTC)
3. Trading pair: DAG/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-09:50 Mar 1, 2023 (UTC)
Orders can be placed and canceled
09:50-10:00 Mar 1, 2023 (UTC)
Orders can be placed but cannot be canceled
10:00 Mar 1, 2023 (UTC)
Through the creation of state channels with advanced programmable business logic, extension of core consensus module to layer one network specific use cases, you'll have innumerable opportunities to develop peer-to-peer networks. User can also leverage its ecosystem to provide immediate value to users and derive mutual economic benefits. The project aim is to attract and support the next blockchain entrepreneur to rapidly build upon a scalable platform with confidence.
DAG is a native cryptocurrency and utility token with a fixed supply on Constellation’s decentralized Hypergraph network. Just like blood carries oxygen and nutrients to all parts of the body, DAG secures network utility by providing liquidity and sufficient bandwidth to the entire ecosystem.
(1) Validate data.
Stake DAG to run a node on the Hypergraph network to validate data and transactions and receive validator rewards of DAG.
(2) Secure network utility.
Staking DAG on Lattice (powered by Constellation’s HGTP) secures network utility and enables cross-chain liquidity between other ecosystems.
(3) Provide liquidity.
Provide liquidity and sufficient bandwidth for other L0 projects running state channels on the network, such as Alkimi Exchange, the first decentralized ad exchange.
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 28, 2023