Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list IQ and support deposit and withdrawal & Automated Market Making (AMM) on May 27, 2021 (UTC). And its trading pair IQ/USDT will be available on the same day.
Everipedia is a universal knowledge base where people can read, engage, and contribute to the articles that interest them most.
An Everipedia article can be about anything that users find interesting, so that users can dive into anything they are curious about. Users can do more than just learn about interesting things on Everipedia — users can also connect with other people who care about the same things that users do, and share their own perspective on what matters to users.
IQ tokens are used to incentivize contributors to create and maintain content within the Everipedia Network. Contributors can edit/add content to Everipedia articles, create new articles, and vote on proposed edits. IQ token holders also play a role in the governance of the Everipedia Network by voting on any underlying protocol upgrades.
Contributors are rewarded with IQ tokens for participating in the Everipedia Network, through creating content and voting on proposed content. IQ can also be used to create new markets and make predictions in existing markets on Prediqt.Everipeda.org. Users can read the Prediqt documentation to learn how it works.
A total of 500 IQ tokens are distributed as rewards every 30 minutes. The IQ rewards are split between editors who propose edits that are accepted and voters who vote with the majority. An individual IQ reward is determined in proportion to the total value of a user’s contributions. This includes:
1.IQ staked for edits accepted on the network
2.IQ staked for votes in the majority
1. Deposit: 2:00 May 27 (UTC)
2. Withdrawal: 2:00 May 27 (UTC)
3. Trading pair: IQ/USDT
4. Opening method: Call Auction
a. Call Auction
2:00—5:50 May 27, 2021 (UTC)
Orders can be placed and cancelled
5:50-6:00 May 27, 2021 (UTC)
Orders can be placed but cannot be cancelled
6:00 May 27, 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 27, 2021
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