Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list BITCOIN and support deposit and withdrawal & Automated Market Making (AMM) on Aug 2, 2023 (UTC). And its trading pair BITCOIN/USDT will be available on the same day.
BITCOIN Services
1. Deposit: 07:00 Aug 2, 2023 (UTC)
2. Withdrawal: 07:00 Aug 2, 2023 (UTC)
3. Trading pair: BITCOIN/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-09:50 Aug 2, 2023 (UTC)
Orders can be placed and canceled
09:50-10:00 Aug 2, 2023 (UTC)
Orders can be placed but cannot be canceled
b. Trading
10:00 Aug 2, 2023 (UTC)
About BITCOIN
HarryPotterObamaSonic10Inu is a PARODICAL SATIRICAL multifaceted art project and cultural phenomenon lampooning the ridiculousness of not only the cryptocurrency space, but the global financial system as a whole. Here is its story:
“Before 2023, the universe manifested a store of value called the Quest. Those who complete the Quest gain value. An inspired individual foresaw this and created the comic Sonichu featuring Obama. The Obama family was gifted a dog Bo who created valuable baseball cards, showing the recursive nature of gifts and value. This identification of The Quest's principles also inspired J.K. Rowling's Deathly Hallows. Now, HarryPotterObamaSonic10Inu token was created with these fictional works, to embody the meaning of the Quest as a store of value. This token represents discovering and completing the Quest to gain value.”
The HPOS10I smart contract has 0 tax on all buys and sells.
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
Aug 2, 2023