Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list EGLD and support deposit and withdrawal & Automated Market Making (AMM) on May 19, 2021 (UTC). And its trading pairs EGLD/USDT,EGLD/BTC will be available on the same day.
Elrond is a high-throughput public blockchain aimed at providing security, efficiency, scalability and interoperability. The two most important features that set Elrond apart are Adaptive State Sharding and the Secure Proof of Stake consensus mechanism. Elrond's architecture rests on the following key innovations:
1. Adaptive State Sharding on all levels: transaction, data and network. The dynamically adaptive sharding mechanism will perform shard merging and shard splitting while taking into consideration both the number of available validator nodes and also the network usage.
2. Secure Proof of Stake Consensus, completed in just two communication steps, using modified Boneh–Lynn–Shacham ("BLS") multi-signatures among the validators of the consensus group.
3. High resiliency to malicious attacks due to periodical node reshuffling across shards. Every epoch, up to 1/3 of the nodes in every shard are reshuffled to other shards in order to prevent collusion.
4. Secure randomness source with BLS signing, which makes it non-biasable and unpredictable.
5. The Arwen WASM VM, an exceptionally fast virtual machine for executing smart contracts written in any programming language that can compile to WebAssembly.
6. Smart contracts on a sharded state architecture, with balanced load on shards.
7. Fast finality for cross-shard transactions in mere seconds.
1. Deposit: 2:00 May 19 (UTC)
2. Withdrawal: 2:00 May 19 (UTC)
3. Trading pairs: EGLD/USDT, EGLD/BTC
4. Opening method: Call Auction
a. Call Auction
2:00—5:50 May 19, 2021 (UTC)
Orders can be placed and cancelled
5:50-6:00 May 19, 2021 (UTC)
Orders can be placed but cannot be cancelled
6:00 May 19, 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 19, 2021
Follow us Facebook | Twitter | Reddit
Contact us Support | Telegram
About us Website | Announcements | APP