Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list PHB and support deposit and withdrawal & Automated Market Making (AMM) on Mar 9, 2023 (UTC). And its trading pair PHB/USDT will be available on the same day.
1. Deposit: 03:00 Mar 9, 2023 (UTC)
2. Withdrawal: 03:00 Mar 9, 2023 (UTC)
3. Trading pair: PHB/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-06:50 Mar 9, 2023 (UTC)
Orders can be placed and canceled
06:50-07:00 Mar 9, 2023 (UTC)
Orders can be placed but cannot be canceled
07:00 Mar 9, 2023 (UTC)
Phoenix is a Layer 1 and Layer 2 blockchain infrastructure, empowering intelligent Web3 applications, focusing on the next generation of AI & Privacy-Enabled Web3 Apps.
Phoenix is built and designed with the idea of bringing highly-intelligent, data-driven, and AI-enabled applications to the blockchain. It serves as both a computation layer to process data in a privacy-preserving manner as well as a bridge to gap on-chain protocols with off-chain data and AI models.
One of Phoenix's products is AlphaNet. It is an AI-driven, Web3-based platform built to help retail and independent traders acquire a collection of robust tools to optimize their trading edge. AlphaNet will be Phoenix’s native dApp that will leverage Phoenix Layer 2’s computation, AI, and modeling capabilities as well as Phoenix L1 blockchain. Also very importantly, AlphaNet will highly utilize PHB and CCD (Computation Credits) and have transformative value for the Phoenix token economy and serve as one of the pillars of a robust and organic growth model. Once passing the initial stages and achieving a certain level of scale AlphaNet is able to have a major impact on the type of technology and tools available to crypto traders, transforming the landscape.
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
Mar 8, 2023