Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list NEXA and support deposit and withdrawal & Automated Market Making (AMM) on May 11, 2023 (UTC). And its trading pair NEXA/USDT will be available on the same day.
1. Deposit: 07:00 May 11, 2023 (UTC)
2. Withdrawal: 07:00 May 11, 2023 (UTC)
3. Trading pair: NEXA/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-09:50 May 11, 2023 (UTC)
Orders can be placed and canceled
09:50-10:00 May 11, 2023 (UTC)
Orders can be placed but cannot be canceled
10:00 May 11, 2023 (UTC)
NEXA is a Layer-1 Financial Blockchain with native tokens and smart contracts, capable of scaling for global P2P usage.
Nexa is a UTXO-based blockchain like Bitcoin that offers enhanced scalability, security, and functionality compared to account-based blockchains. It currently relies on CPU and GPU mining, but its Proof-of-Work algorithm incentivizes the production of specialized hardware for faster cryptographic hashing and signature validation. This addresses key scaling bottlenecks and enables Nexa nodes to handle 100,000 transactions per second on layer-1.
Nexa employs Bitcoin's economic model, allowing for a smooth transition to miner revenue from transaction fees. It also supports native token systems on-chain, enabling various economic models, such as stablecoins, commodity-backed assets, and NFTs. Nexa's unique PoW algorithm makes suitable for global use without high fees or transaction delays.
Nexa's platform supports native tokens, NFTs, and "wise-contracts," which offer the functionality of EVM chains without the scaling issues. With its PoW algorithm and mining incentives, Nexa brings new hardware to market, enabling faster transaction validation and instant, trustless transactions for users.
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
May 10, 2023