Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list OCTA and support deposit and withdrawal & Automated Market Making (AMM) on Jun 19, 2023 (UTC). And its trading pair OCTA/USDT will be available on the same day, and launch “OCTA Online Bonus: Learn to Earn 20,000 OCTA” promotion. The details are as follows.
OCTA Services
1. Deposit: 08:00 Jun 19, 2023 (UTC)
2. Withdrawal: 08:00 Jun 19, 2023 (UTC)
3. Trading pair: OCTA/USDT
4. Opening method: Call Auction
a. Call Auction
08:00-09:50 Jun 19, 2023 (UTC)
Orders can be placed and canceled
09:50-10:00 Jun 19, 2023 (UTC)
Orders can be placed but cannot be canceled
b. Trading
10:00 Jun 19, 2023 (UTC)
About OCTA
OctaSpace is designed to be easy to use, even for those who are new to the concept of distributed computing. With OctaSpace, users can tap into the power of CPU and GPU resources from nodes all over the world to tackle heavy tasks. And if users have spare hardware, they can even become a host and earn by renting out their CPU/GPU or traffic.
Network Architecture:
(1) Own layer 1 blockchain network (PoW) is used for the financial operations using OCTA cryptocurrency.
(2) To reduce operational costs, decrease commissions and increase the speed of transactions the dedicated layer 2 network is used.
(3) The interaction of the core and blockchain networks is implemented through gateways that provide APIs for both networks.
(4) The core of the system is responsible for the control and monitoring of resources, implementation of the application layer, billing and providing an interface for creating various services.
(5) To work with the system, a WEB interface for users and an HTTP REST API for automation or integration with third party systems are implemented.
The details of “OCTA Online Bonus: Learn to Earn 20,000 OCTA” promotion are as follows.
1. Duration: 08:00 on Jun 19 - 08:00 on Jun 21, 2023 (UTC)
2. Rules:
| Airdrop Type | Lucky Airdrop |
| Total Reward |
20,000 OCTA |
| Single Reward | 10 OCTA |
| To Be Rewarded | 2,000 Participants |
| Requirements |
Account Level: VIP1 and above (Current CET Holding ≥ 1,000) |
3. How to participate
(1) Go to the promotion page: Read and study the project introduction carefully.
(2) Claim your lucky number: Users who meet the participation requirements and answer all questions correctly can claim a lucky number during the promotion. When the promotion is ended, 2,000 lucky numbers will be drawn systematically and randomly. Users who win the airdrop will get a 10 OCTA airdrop reward.
(3) Allocation: After claiming, your airdrop reward will be systematically frozen in the Spot account for 1 day. Please refer to the promotion page for the specific time.
Click HERE to learn more about CoinEx Airdrop
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
Jun 19, 2023