Dear CoinEx users,
According to the arrangement in the "CoinEx Will Support PRIMATE Token Swap to BENJI", CoinEx has allocated the BENJI token to relevant users according to the ratio of 1 PRIMATE = 1 BENJI on Aug 22, 2023. CoinEx will list BENJI and support deposit and withdrawal & Automated Market Making (AMM) on Aug 22, 2023 (UTC). And its trading pair BENJI/USDT will be available on the same day.
BENJI Services
1. Deposit: 07:00 Aug 22, 2023 (UTC)
2. Withdrawal: 07:00 Aug 22, 2023 (UTC)
3. Trading pair: BENJI/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-07:50 Aug 22, 2023 (UTC)
Orders can be placed and canceled
07:50-08:00 Aug 22, 2023 (UTC)
Orders can be placed but cannot be canceled
b. Trading
08:00 Aug 22, 2023 (UTC)
New Smart Contract address
BENJI (ERC20): 0xCA5b0AE1d104030a9B8F879523508EFd86c14483
About BENJI
Benji Bananas is a physics-based mobile game.
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. Profits from automated market making
After providing liquidity, your funds will be deposited into the liquidity pool for automated market making. 50% of the trading fees earned in this market will be distributed to all liquidity providers according to the proportion of the liquidity pool.
2. Cumulate daily profit and withdraw all at once
On an hourly basis, the trading fee income earned from your liquidity will be calculated, And automatically deposited into your AMM account. Also, the cumulative incomes will be withdrawn, when removing liquidity from the pool.
3. Free access, free of charge
You can make real-time transfers from Spot account and AMM account, by adding and removing liquidity. In every single market, there is no upper limit for each user Or additional fees to inject liquidity.
Risk Reminder
The assets in the AMM Account will be added to the liquidity pool for automated market making. Due to price fluctuations, impermanent losses might occur and the amount of the two assets might change when the liquidity is removed.
Impermanent loss will gradually be wiped out when the price ratio changes back and eventually, users can gain profits from providing liquidity.
CoinEx Team
Aug 22, 2023