Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list ID and support deposit and withdrawal & Automated Market Making (AMM) on Mar 23, 2023 (UTC). And its trading pair ID/USDT will be available on the same day.
1. Deposit: 03:00 Mar 23, 2023 (UTC)
2. Withdrawal: 03:00 Mar 23, 2023 (UTC)
3. Trading pair: ID/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-03:50 Mar 23, 2023 (UTC)
Orders can be placed and canceled
03:50-04:00 Mar 23, 2023 (UTC)
Orders can be placed but cannot be canceled
04:00 Mar 23, 2023 (UTC)
SPACE ID is building a universal name service network with a one-stop identity platform to discover, register, trade, and manage web3 domains. It also includes a Web3 Name SDK & API for developers across blockchains and provides a multi-chain name service for everyone to easily build and create a web3 identity.
It mainly arms the following four actions:
(1) Discover: A central hub for users to search desired names in all supported TLDs and discover trending domain collections. It supports functions like auto-suggesting and a quick check on the domain registration status.
(2) Register: Users can now register for all web3 domains on the SPACE ID Mainnet. The .bnb and .eth domains will be the first two TLDs to be supported in the first version of Mainnet.
(3) Trade: A marketplace that is specifically designed for trading web3 domains, with aggregated liquidity from other marketplaces such as OpenSea.
(4) Manage: One single integrated portal to manage the renewal, record, and ownership of all your web3 domains.
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 23, 2023