Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list DENT and support deposit and withdrawal & Automated Market Making (AMM) on May 24, 2021 (UTC). And its trading pair DENT/USDT will be available on the same day.
DENT is a digital & global operator for eSIM, top-ups and voice minutes with aiming to provides customers the most convenient way of staying online while traveling. Until now, over 26 million users have already registered for its services, and products with over 220 Telcos already available on the platform.
There are two apps within DENT ecosystems. The web app, “DENT Teams” , is a completely new app where users can share data volume with as many people or devices as they want. The mobile app, DENT, has virtualized mobile assets and made them tradeable on a global marketplace - The DENT EXCHANGE. Besides, users can talk to their families and friends from anywhere in the world by just using the DENT VOICE function of DENT app – without buying local SIM cards or spending loads on roaming fees.
The DENT Token is the central value transfer vehicle in the whole ecosystem and is built on the Ethereum Blockchain. DENT tokens are utilized in every transaction on the marketplace. With the DENT EARN section available on the DENT Android app, users are allows to earn free DENT tokens to spend on top-ups, voice minutes or data plans.
1. Deposit: 2:00 May 24 (UTC)
2. Withdrawal: 2:00 May 24 (UTC)
3. Trading pair: DENT/USDT
4. Opening method: Call Auction
a. Call Auction
2:00—5:50 May 24, 2021 (UTC)
Orders can be placed and cancelled
5:50-6:00 May 24, 2021 (UTC)
Orders can be placed but cannot be cancelled
6:00 May 24, 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 24, 2021
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