Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list THE and support deposit and withdrawal & Automated Market Making (AMM) on Aug 3, 2023 (UTC). And its trading pair THE/USDT will be available on the same day.
1. Deposit: 07:00 Aug 3, 2023 (UTC)
2. Withdrawal: 07:00 Aug 3, 2023 (UTC)
3. Trading pair: THE/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-09:50 Aug 3, 2023 (UTC)
Orders can be placed and canceled
09:50-10:00 Aug 3, 2023 (UTC)
Orders can be placed but cannot be canceled
10:00 Aug 3, 2023 (UTC)
By resolving the basic shortcomings of Solidly and adding its own innovations, THENA tackles these difficulties and delivers an attractive proposition. To recall, Solidly's fundamental innovation was to correlate protocol emissions with fees generated, rather than purely incentivizing liquidity. To do this, protocols and other significant stakeholders would be able to control THENA’s emissions by acquiring and locking THE, our native token, enabling stakeholders to direct future emissions and collect fees (called bribes in Solidly) from the pools they voted for.
THENA has reworked the Solidly codebase to guarantee that the protocol will function as intended, allowing voters to properly compensate liquidity providers for impermanent loss, while being aligned with the core objectives of the protocol—namely increasing fee generation.
Solidly had numerous major challenges that kept it from succeeding in the Fantom ecosystem. Here are some of the improvements made:
(1) Fixed the marketplace for emissions
(2) Fixed the emission schedule
(3) Lowered the impact of anti-dilution mechanism
(4) Improved the initial distribution
(5) Referral system to reinforce the positive feedback mechanism
(6) Thenian NFT (theNFT) minters as co-founders and holders as the core community contributing to THENA's success
(7) Long list of committed launch partners
(8) Dedicated core team working on improvements
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
Aug 3, 2023