Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list O3 and support deposit and withdrawal & Automated Market Making (AMM) on May 14, 2021 (UTC). And its trading pair O3/USDT will be available on the same day.
O3 Swap is a proprietary cross-chain aggregation protocol built by O3 Labs. The mission of O3 Swap is to provide consumers access to cryptocurrency-based, financial services, allowing them to exchange, or ‘swap’, various digital assets within their O3 Wallet. The benefits of this design can be attributed to the high level of safety and security that is inherent to the decentralized model of asset storage and protection. The platform also provides ‘cross-chain’ swaps to conduct exchange settlements without regard to the limitations of a typical isolated Blockchain network. With a cross-chain swap, the initial asset and the target asset are deployed on two isolated Blockchains that otherwise are non-communicative. The O3 Swap protocol, in cooperation with its associated decentralized wallet software, provides a one-stop aggregation & exchange platform for consumers and offers developers access to an open, distributed, limitless, and secure — trading environment.
O3 Swap Token (O3) is an application token issued by O3 Swap. It is an important mediator to promote the development of the O3 Swap network. Based on the economic model of O3 Swap, all participants and developers are encouraged to invest in the maintenance of the overall ecological network through the community governance of tokens.
In the economic model of O3 Swap, there are three ways to earn O3. Firstly, users can receive airdrops through early participation in product testing and community contributions. Secondly, they can receive trade mining rewards by using O3 Swap. Thirdly, they can provide liquidity to Hub (cross-chain pool) to obtain O3 rewards. O3 is in a locked state when obtained in the above three ways. Users are required to provide liquidity with O3 trading pairs to main DEXs to unlock the O3 in the account.
There are three primary benefits for the unlocked O3:
1. Member rights: Stake O3 to obtain interest and transaction discounts allocated by the O3 Swap treasury.
2. Community governance: Users can participate in community governance by staking O3 to initiate proposals, participate in voting, etc.
3. LP staking: Users can use O3 to synthesize liquidity equity proof (LP), which can be used for unlocking and mining.
On the other hand, all transaction fees from O3 Swap will regularly be used to buyback O3 in open markets, and distributed to O3 stakers and development committees in proportion.
1. Deposit: 8:00 May 14 (UTC)
2. Withdrawal: 8:00 May 14 (UTC)
3. Trading pair: O3/USDT
4. Opening method: Call Auction
a. Call Auction
8:00 May 14—7:50 May 15, 2021 (UTC)
Orders can be placed and cancelled
7:50-8:00 May 15, 2021 (UTC)
Orders can be placed but cannot be cancelled
8:00 May 15, 2021 (UTC)
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 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%. VIP and market makers 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
May 14, 2021
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