Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list FERC and support deposit and withdrawal & Automated Market Making (AMM) on Jun 21, 2023 (UTC). And its trading pair FERC/USDT will be available on the same day.
FERC Services
1. Deposit: 03:00 Jun 21, 2023 (UTC)
2. Withdrawal: 03:00 Jun 21, 2023 (UTC)
3. Trading pair: FERC/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-06:50 Jun 21, 2023 (UTC)
Orders can be placed and canceled
06:50-07:00 Jun 21, 2023 (UTC)
Orders can be placed but cannot be canceled
b. Trading
07:00 Jun 21, 2023 (UTC)
About FERC
This is a fairer ERC20 token scheme, which we will call Fair ERC-20, FERC20 for short.
FERC20 brings the spirit of BRC20's Fairlaunch to Ethereum (and other EVM chains) through smart contracts, allowing more community participation.
FERC20 is based on the ERC20 standard protocol and has the following features:
(1) It can easily transfer money in the wallet familiar to the public, without the need to download a new wallet software;
(2) can be used in Ethereum's powerful DEFI ecosystem, including DEX, lending, multi-signature, etc.;
(3) FERC20 token has no owner rights, that is, no master token;
(4) The Tick character number can be upgraded;
(5) There is no pre-mining, and the total amount of tokens is mined from zero until the hard top is reached;
(6) Highly decentralized, serverless system architecture, including search, search and other functions, all carried out in smart contracts;
(6) It is not a BRC20 platform, and users interact directly with the contract.
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 20, 2023