Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list POLY and support deposit and withdrawal & Automated Market Making (AMM) on May 24, 2021 (UTC). And its trading pair POLY/USDT will be available on the same day.
Polymath makes it easy to create, issue, and manage tokens on the blockchain. Over 200 tokens have been deployed using Polymath’s Ethereum-based solution and the project is now in the midst of launching Polymesh, an institutional-grade blockchain built specifically for regulated assets. It streamlines antiquated processes and opens the door to new financial instruments by solving the inherent challenges with public infrastructure around identity, compliance, confidentiality, and governance. POLY tokens are ERC-20 utility tokens, but security tokens that are issued on the polymath network must be “ST-20,” a created standard that allows token issuers to maintain regulatory compliance through specified transfer restrictions. The value of POLY: Fuel of Polymesh: 1) it enables the creation and management of security tokens, 2) drives POLYX holder participation through governance, and 3) secures the chain through staking. Team’s mission is to make it easy to unlock the blockchain to tokenize and trade traditional and new classes of assets.
1. Deposit: 7:00 May 24 (UTC)
2. Withdrawal: 7:00 May 24 (UTC)
3. Trading pair: POLY/USDT
4. Opening method: Call Auction
a. Call Auction
7:00 May 24—10:50 May 24, 2021 (UTC)
Orders can be placed and cancelled
10:50-11:00 May 24, 2021 (UTC)
Orders can be placed but cannot be cancelled
11:00 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