Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list SHDW and support deposit and withdrawal & Automated Market Making (AMM) on Nov 21, 2023 (UTC). And its trading pair SHDW/USDT will be available on the same day.
1. Deposit: 07:00 Nov 21, 2023 (UTC)
2. Withdrawal: 07:00 Nov 21, 2023 (UTC)
3. Trading pair: SHDW/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-09:50 Nov 21, 2023 (UTC)
Orders can be placed and canceled
09:50-10:00 Nov 21, 2023 (UTC)
Orders can be placed but cannot be canceled
10:00 Nov 21, 2023 (UTC)
The ShdwDrive is a new approach to S3-compatible cloud storage with the enhancements of on-chain storage.
The project has completed full integration with the Solana blockchain, while retaining the ability to become a poly-chain service in the future. For this reason, ShdwDrive define the combination of ShdwDrive and its evolving D.A.G.G.E.R. technology as a data-availability layer for all of web2 and web3. Other web3 storage providers have attempted to integrate with Solana in the past and have had only marginal success. Shdw Drive solves this by integrating directly with the Proof of History consensus mechanism, passing on-chain events for consensus approval by the Solana validator network which proves the continued existence and integrity of the stored data.
The idea for ShdwDrive was founded on the premise that the Solana network is largely misunderstood in terms of what it was built to achieve. By understanding what it truly means to be the world’s most performant state machine, you realize that Solana can be used to reach consensus and maintain state on nearly anything.
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
Nov 21, 2023