Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list PYTH and support deposit and withdrawal & Automated Market Making (AMM) on Nov 22, 2023 (UTC). And its trading pair PYTH/USDT will be available on the same day.
1. Deposit: 03:00 Nov 22, 2023 (UTC)
2. Withdrawal: 03:00 Nov 22, 2023 (UTC)
3. Trading pair: PYTH/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-03:50 Nov 22, 2023 (UTC)
Orders can be placed and canceled
03:50-04:00 Nov 22, 2023 (UTC)
Orders can be placed but cannot be canceled
04:00 Nov 22, 2023 (UTC)
Pyth Network is an oracle that publishes financial market data to multiple blockchains.
The market data provided by Pyth Network is contributed by over 90 first-party publishers, including some of the biggest exchanges and market making firms in the world. They offer price feeds for a number of different asset classes, including US equities, commodities, and cryptocurrencies (opens in a new tab). Each price feed publishes a robust aggregate of publisher prices that updates multiple times per second.
Price feeds are available on multiple blockchains and can also be used in off-chain applications. Pyth offers three different data products to support various applications:
· Solana Price Feeds provide real-time prices on Solana mainnet.
· Pythnet Price Feeds provide real-time prices for 35+ blockchain ecosystems. They are available in mainnet for most EVM chains (including Ethereum, BNB, Avalanche, and more ), several Cosmos chains, Aptos, and Sui.
· Benchmarks provides historical Pyth prices for both on- and off-chain use. These historical prices can be used for settlement or other similar applications.
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