Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list VENOM (VENOM) on Mar 25, 2024. The details are as follows.
List Time
1. Deposit: 09:00 on Mar 25 (UTC)
2. Withdrawal: 09:00 on Mar 26 (UTC)
3. Trading pair: VENOM/USDT
4. Opening method: Call Auction
a. Call Auction
09:00-09:50 Mar 25 (UTC)
Orders can be placed and canceled
09:50-10:00 Mar 25 (UTC)
Orders can be placed but cannot be canceled
b. Trading
10:00 Mar 25 (UTC)
About VENOM
Core features of Venom blockchain:
Dynamic Sharding – Venom Blockchain uses dynamic sharding to increase its transaction throughput and network capacity. Dynamic sharding is the process of dividing a blockchain network into smaller parts called shards that can process transactions in parallel. Venom uses this feature to adjust the number of shards based on network demand. This ensures that the platform can handle large volumes of transactions without compromising security or decentralization.
Consensus and algorithms - Venom blockchain uses a hybrid consensus that combines Proof-of-Stake (PoS) and Byzantine Fault Tolerance (BET) algorithms. PoS consensus is used to select validators who can participate in the consensus process and produce new blocks, while the BFT algorithm is used to ensure that the selected validators agree on the state of the blockchain. The consensus is efficient and provides fast finality, meaning transactions are confirmed quickly and are irreversible.
Asynchronous Architecture - Venom is a blockchain of blockchains with a distinct asynchronous architecture. The protocol ultimately consists of Masterchain, Workchain and Shardchain blocks. The protocol’s heterogeneous nature allows its different components to work together as part of Venom’s powerful blockchain technology.
About Automated Market Making (AMM)
AMM is supported for the VENOM/USDT market. CoinEx AMM allows every user to become a market maker. By adding liquidity to the liquidity pool, users can share 50% of the trading fees earned in this market. The fee dividends are calculated daily. Learn about AMM >>
Risk Reminder
Crypto products are innovative investment products with large price fluctuations as well as high investment risks. Therefore, please evaluate and invest wisely based on your risk tolerance and financial resources.
CoinEx reserves the final interpretation of this announcement.
CoinEx Team
Mar 25, 2024
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