Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list RLC and support deposit and withdrawal & Automated Market Making (AMM) on May 7, 2021 (UTC). And its trading pair RLC/USDT will be available on the same day.
About RLC
Website丨Explorer丨White Paper
iExec is building the future of the Internet infrastructure by decentralizing the cloud computing market. It is the first blockchain-based cloud computing marketplace.The iExec network connects cloud resource sellers with cloud resource buyers, encouraging an ecosystem of decentralized and autonomous, privacy-preserving applications. This network aims at providing companies with scalable, secure and easy access to the services, datasets and computing resources they need. iExec’s technology relies on Ethereum smart contracts and allows for a virtual cloud infrastructure that provides high-performance computing services on-demand. iExec strengthens applications running on Ethereum smart contracts, allowing for off-chain computation services and datasets on-demand. This is made possible by the iExec Proof-of-Contribution or PoCo consensus protocol that validates off-chain computations.
iExec distinguishes between 3 different types of cloud resource providers :
1. Application providers：Developers and application providers can monetize their apps, dapps, functions or algorithms.
2. Computing providers： Computing providers can make the most of their servers, by joining the iExec network and renting them.
3. Data providers： Data providers can monetize datasets usage and open up new revenue streams for their assets. A single entity can be all types of providers at the same time.
RLC Services
1. Deposit: 2:00 May 7 (UTC)
2. Withdrawal: 2:00 May 7 (UTC)
3. Trading pair: RLC/USDT
4. Opening method: Call Auction
a. Call Auction
3:00—3:50 May 7, 2021 (UTC)
Orders can be placed and cancelled
3:50-4:00 May 7, 2021 (UTC)
Orders can be placed but cannot be cancelled
b. Trading
4:00 May 7, 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 60% 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. 60% 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 Warning
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
May 7, 2021
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CoinEx Will List RLC at 2:00 May 7(UTC)
