Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list NEOX and support deposit and withdrawal & Automated Market Making (AMM) on Nov 23, 2023 (UTC). And its trading pair NEOX/USDT will be available on the same day.
1. Deposit: 07:00 Nov 23, 2023 (UTC)
2. Withdrawal: 07:00 Nov 23, 2023 (UTC)
3. Trading pair: NEOX/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-09:50 Nov 23, 2023 (UTC)
Orders can be placed and canceled
09:50-10:00 Nov 23, 2023 (UTC)
Orders can be placed but cannot be canceled
10:00 Nov 23, 2023 (UTC)
Neoxa is a decentralized blockchain for the gamers, developers and miners. While other cryptocurrencies use only Proof of Work(PoW), Neoxa uses PoW and Proof of Game(PoG). PoG is a new way for gamers to participate in blockchain technology, simply by playing games. Until now, the minable cryptocurrency communities and gaming communities have been separated by a graphic card shortage. With Neoxa, both these communities can come together and get a piece of the block.
Neoxa uses KawPow as the hashing algorithm. The KawPoW algorithm is a tweaked variant of Programmatic Proof of Work (ProgPoW) developed by the Ethereum developers. The algorithm makes it harder for ASIC miners to join the network and gives GPU miners preference. A block is mined every 60 seconds by Proof of Work.
Neoxa introduces a new earning mechanism to earn cryptocurrency while playing video games. With Proof of Game, gamers can “mine” $NEOX by simply playing video games. Gaming can be seen by many as simply wasting time, with Neoxa Proof of Game you earn while having fun.
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 23, 2023