Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list PLS and support deposit and withdrawal & Automated Market Making (AMM) on Mar 17, 2023 (UTC). And its trading pair PLS/USDT will be available on the same day.
PLS Services
1. Deposit: 03:00 Mar 17, 2023 (UTC)
2. Withdrawal: 03:00 Mar 17, 2023 (UTC)
3. Trading pair: PLS/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-06:50 Mar 17, 2023 (UTC)
Orders can be placed and canceled
06:50-07:00 Mar 17, 2023 (UTC)
Orders can be placed but cannot be canceled
b. Trading
07:00 Mar 17, 2023 (UTC)
About PLS
Plutus is an Arbitrum-native governance aggregator aiming to maximize users’ liquidity and rewards while simultaneously aggregating governance behind the PLS token.
Plutus’ objective is to become the de-facto Layer 2 governance blackhole for projects with veTokens. Plutus has collaborated with Dopex, Jones, GMX and Sperax for a variety of Plutus-related governance products. In addition, Plutus is now expanding its product line to include Vaults with GLP as the premier product.
plsAssets:
With plsAssets, users can achieve exposure to veAsset rewards without having to lock their tokens. Through a liquid staking derivative, users can exit their plsAsset position for the respective token whenever they wish. With additional incentives on top of max-locked veAsset yield, plsAssets are always more lucrative and liquid compared to the native option of max-locking an asset.
plvGLP：
(1) Users can deposit GLP for plvGLP at any time.
(2) Users can redeem plvGLP for GLP at any time.
(3) The vault takes the ETH rewards and auto compounds the position, resulting in plvGLP constantly appreciating in value.
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 Warning
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
Mar 16, 2023