Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list SHRAP and support deposit and withdrawal & Automated Market Making (AMM) on Nov 23, 2023 (UTC). And its trading pair SHRAP/USDT will be available on the same day.
SHRAP Services
1. Deposit: 03:00 Nov 23, 2023 (UTC)
2. Withdrawal: 03:00 Nov 23, 2023 (UTC)
3. Trading pair: SHRAP/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-06:50 Nov 23, 2023 (UTC)
Orders can be placed and canceled
06:50-07:00 Nov 23, 2023 (UTC)
Orders can be placed but cannot be canceled
b. Trading
07:00 Nov 23, 2023 (UTC)
About SHRAP
SHRAPNEL is an intensely competitive AAA extraction shooter game on PC, where true ownership and real-world value are offered to players for the first time – featuring skill-based play, creative modding tools, and a community marketplace.
In SHRAPNEL, players are tasked with finding and extracting valuable resources, entering the Zone as Operators for one of the MEFs. Many other operators are also vying for these resources in The Zone, resulting in a tense, high-stakes, competitive environment that encourages risk-taking and rewards skill.
Players outfit their Operators with gear to fit their desired play-style before entering The Zone. Gear (in the form of NFTs) is dropped on death, forcing players to weigh constantly shifting odds of success in every choice they make. In addition to the gear dropped by Operators killed in action, players can also collect the mysterious Compound Sigma. After collecting their loot, players must fight their way to one of several contested extraction locations — and survive long enough to escape and claim it as their own.
Successfully extracted loot (NFTs) are then placed in the player’s persistent inventory, which the player uses to build their load-outs in future sessions.
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 22, 2023