Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list XRD and support deposit and withdrawal & Automated Market Making (AMM) on Mar 21, 2023 (UTC). And its trading pair XRD/USDT will be available on the same day.
XRD Services
1. Deposit: 07:00 Mar 21, 2023 (UTC)
2. Withdrawal: 07:00 Mar 21, 2023 (UTC)
3. Trading pair: XRD/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-09:50 Mar 21, 2023 (UTC)
Orders can be placed and canceled
09:50-10:00 Mar 21, 2023 (UTC)
Orders can be placed but cannot be canceled
b. Trading
10:00 Mar 21, 2023 (UTC)
About XRD
Radix network is a smart contract platform that lets developers build fast, rewards everyone who makes it better, and scales without friction.
Radix is building an open, interconnected platform where the full range of powerful DeFi applications will be built securely and safely.
Radix includes Radix Engine as its application layer, Cerberus as its consensus layer, and Radix’s DPoS system as its Sybil resistance mechanism.
The Radix Engine smart contract environment, together with the Scrypto programming language, make production-quality DeFi dApp development easy and safe – without limiting what the developer can build. With these tools, more complex dApps become practical, the pool of available dApp developers can rapidly grow, and developers stand a chance of avoiding hacks and exploits.
The native crypto currency of the Radix network is called XRD and is required for securing the network via staking, accessing DeFi, deploying smart contracts and paying for transactions.
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 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
Mar 21, 2023