Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list RBC and support deposit and withdrawal & Automated Market Making (AMM) on Nov 22, 2023 (UTC). And its trading pair RBC/USDT will be available on the same day.
RBC Services
1. Deposit: 03:00 Nov 22, 2023 (UTC)
2. Withdrawal: 03:00 Nov 22, 2023 (UTC)
3. Trading pair: RBC/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-06:50 Nov 22, 2023 (UTC)
Orders can be placed and canceled
06:50-07:00 Nov 22, 2023 (UTC)
Orders can be placed but cannot be canceled
b. Trading
07:00 Nov 22, 2023 (UTC)
About RBC
Rubic aggregates 70+ blockchains and testnets, while it enables swaps of 15,500+ assets with the best rates, highest liquidity, and transaction speeds - in one click, thanks to the integration of 220+ DEXs and bridges. The team focus on adding new emerging chains, which are often not present on giant DEXs and on-chain aggregators, ensuring that our users have access to the latest and most in-demand networks like zkSync Era, Polygon zkEVM, Mantle, Linea, Base, etc.
Users no longer have to roam across Web3 to compare rates and liquidity; they can make cross-chain and on-chain swaps of any available token to any other one on Rubic. On top of that, Rubic’s app along with their cross-chain widget provide fiat on-ramp services, making crypto easy to access and buy.
Rubic also provide tools for dApps to enable cross-chain swaps. Rubic’s functionality can be implemented by any crypto project willing to become interoperable, with an easy-to-install widget and fully customizable SDK.
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
Nov 21, 2023