Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list MCB and support deposit and withdrawal & Automated Market Making (AMM) on May 24, 2023 (UTC). And its trading pair MCB/USDT will be available on the same day.
MCB Services
1. Deposit: 07:00 May 24, 2023 (UTC)
2. Withdrawal: 07:00 May 24, 2023 (UTC)
3. Trading pair: MCB/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-09:50 May 24, 2023 (UTC)
Orders can be placed and canceled
09:50-10:00 May 24, 2023 (UTC)
Orders can be placed but cannot be canceled
b. Trading
10:00 May 24, 2023 (UTC)
About MCB
Key components in the MUX Protocol Suite:
(1) MUX Leveraged Trading Protocol - A decentralized leveraged trading protocol that offers zero price impact trading, up to 100x leverage, no counterparty risks for traders and an optimized on-chain trading experience. Traders will trade against the MUX native pool (MUXLP pool) on the Leveraged Trading Protocol.
(2) MUX Leveraged Trading Aggregator - A sub-protocol in the MUX protocol suite that automatically selects the most suitable liquidity route and minimizes the composite cost for traders while meeting the needs of opening positions. The aggregator can also supply additional margin for traders to raise the leverage up to 100x on aggregated underlying protocols.MUX Protocol is currently deployed on Arbitrum, BNB Chain, Avalanche, Fantom and will expand to more networks in the future.
(3) MUX DAO multi-sig currently governs the MUX Protocol smart contracts, and the scope includes general operation, maintenance and emergency actions.
(4) The governance involves two types of permission: time lock required and non-required. For general operation actions, time locks are required; all the proposed changes will only take effect after a 48-hour time lock. Maintenance actions won't affect protocol core features, so that they won't need a time lock. Emergency actions can take effect immediately and won't require time locks; these actions can potentially occur during security incidents or other events that can severely damage LPs and traders.
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
May 24, 2023