Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list VTC and support deposit and withdrawal & Automated Market Making (AMM) on June 1, 2021 (UTC). And its trading pairs VTC/USDT, VTC/BTC will be available on the same day.
Vertcoin is a digital currency that can be sent from peer to peer over the internet. Though similar to LTC and BTC, Vertcoin has one major difference; ASIC resistance. While this may seem like a minor change, it actually has much larger implications when it comes to the fair distribution, politics, and decentralization of the coin. Vertcoin stays true to the original vision of cryptocurrency: a financial system owned by its users, the people’s coin. Centralized mining has no place in the crypto-space and should not be considered the norm or acceptable. Vertcoin is positioned to break this cycle and place the power back in to the communities hands.
On December 12, 2017 Vertcoin will undergo its first ever block reward subsidy halving. The halving will occur on block 840,000 and reduce mining rewards by 50% from 50 VTC per block to 25 VTC per block. This halving occurs roughly every 4 years and will continue to half until the supply is fully emitted. as time goes on, transaction volume and network hash will increase, slowly shifting miner payouts from block rewards to transaction fees.
1. Deposit: 7:00 June 1 (UTC)
2. Withdrawal: 7:00 June 1 (UTC)
3. Trading pair: VTC/USDT; VTC/BTC
4. Opening method: Call Auction
a. Call Auction
7:00 June 1- 06:50 June 2, 2021 (UTC)
Orders can be placed and cancelled
06:50-07:00 June 2, 2021 (UTC)
Orders can be placed but cannot be cancelled
07:00 June 2, 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
June 1, 2021
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