Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list BBANK and support deposit and withdrawal & Automated Market Making (AMM) on Nov 24, 2023 (UTC). Its trading pair BBANK/USDT will be available on the same day.
1. Deposit: 03:00 Nov 24, 2023 (UTC)
2. Withdrawal: 03:00 Nov 24, 2023 (UTC)
3. Trading pair: BBANK/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-06:50 Nov 24, 2023 (UTC)
Orders can be placed and canceled
06:50-07:00 Nov 24, 2023 (UTC)
Orders can be placed but cannot be canceled
07:00 Nov 24, 2023 (UTC)
BlockBank is a decentralized digital asset management and value circulation network based on blockchain technology.
BlockBank bridges the gap between existing DeFi and banking by providing users with security, improved usability, and AI-enhanced risk management through a new banking experience. The BlockBank platform is designed for professional traders and new retail market participants who want to set personal risk tolerance levels, receive artificial intelligence-based trading strategy recommendations, access modern banking services, and earn higher Annual Yield (APY) than traditional industries banking services. BlockBank users can keep their blockchain assets in a non-custodial, cross-chain cryptocurrency wallet with a built-in fiat gateway.
In addition to general point-based assets, asset issuers and managers also have the need to issue encrypted digital assets with dividends. In BlockBank, an automatic asset dividend function driven by smart contracts will be added.
The function of an encrypted digital asset circulation platform is built into BlockBank. In this platform, users can transfer their assets to other users on the platform. Asset issuers and managers can set whether the assets they issue can be traded on this circulation platform.
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