Dear CoinEx users,
To provide more trading options, after rigorous reviews, CoinEx will list FLUX at 09:00 on June 2, 2021 (UTC), and launch “FLUX Online: Deposit&Trade FLUX and Stake CET to Share 30,000 USD Worth of FLUX” event. The details are as follows:
FLUX service
1. Deposit: 09:00 June 2 (UTC)
2. Withdrawal: 00:00 June 6 (UTC)
3. Trading pairs: FLUX/USDT; FLUX/BTC
4. Opening method: Call Auction
a. Call Auction
09:00-12:50 June 2, 2021 (UTC)
Orders can be placed and cancelled
12:50-13:00 June 2, 2021 (UTC)
Orders can be placed but cannot be cancelled
b. Trading
13:00 June 2, 2021 (UTC)
About FLUX
Website丨Explorer丨White paper
The Flux Ecosystem is a suite of decentralized computing services and blockchain-as-a-service solutions which offer an interoperable, decentralized, AWS-like development environment. Flux utilizes a native POW (Proof of Work) coin to power this ecosystem, providing incentive for hardware hosters, governance on-chain, and bad actor mitigation via staking requirements for running hardware. The Flux operating system runs on top of Linux to provide the network with verified and benchmarked high-availability compute power and utilizes the blockchain to ensure transparency in governance operations. Flux node operators can choose from three tiers of hardware requirements to stand up after providing the necessary Flux capital soft-locked in their wallet. This allows anyone to be rewarded for providing hardware to the network, from anywhere in the world.
Flux is the cryptocurrency powering the Flux Ecosystem, including a massive decentralized computational network. Flux gives users both institutional and private control over their cloud infrastructure in a decentralized manner.
Flux provides incentives for miners and FluxNode operators on the highly scalable Flux network and is the currency for buying resources and fueling transactions on the computational network called FluxOS.
The details of the “Deposit & Trade FLUX and STAKE CET to Mine FLUX, Share 180,000 FLUX” event are as follows:
Event 1: Deposit to share 40,000 FLUX
Duration：09:00 on June 2- 00:00 on June 6, 2021 (UTC)
During the promotion, sorted by recharge time, users who have net recharge of 500 FLUX can get 20 FLUX rewards per person. A single user can get a maximum of 200 FLUX rewards. The total reward for this event is 40,000 FLUX, on a first-come, first-served basis, while supplies last.
Event 2: Trading to share 40,000 FLUX
Duration：09:00 June 2- 00:00 June 9, 2021 (UTC)
During the promotion period, the transaction volume (buying volume + selling volume) is greater than CoinEx users with 100USD equivalent of FLUX can participate in the ranking and share 40,000 FLUX. The specific reward distribution is as follows：
|
Ranking |
Reward per user （FLUX） |
Total rewards（FLUX） |
|
1 |
4,000 |
4,000 |
|
2 |
3,000 |
3,000 |
|
3-5 |
1,000 |
3,000 |
|
6-10 |
600 |
3,000 |
|
11-50 |
300 |
12,000 |
|
51-200 |
100 |
15,000 |
Event 3: FLUX online, Lock & Stake CET to mine 100,000 FLUX
Duration: 00:00 June 3, 2021 - 00:00 June 8, 2021 (UTC)
Event rules
During the promotion, users who stake CET on the promotion page can share 100,000 FLUX rewards. All participants can share hourly yields according to their shares of locked staking.
|
Lock & Stake |
CET |
|
Yield |
FLUX |
|
Total yield during promotion |
100,000 FLUX |
|
Hourly yield during promotion |
833.334 FLUX |
|
Min. staked asset per time |
1,000 CET |
|
Max. staked asset per user |
1,000,000 CET |
|
Upper limit of total staked asset |
Unlimited |
|
Requirement |
KYC verified (Sub-accounts are not included) |
Reward rules:
During the event, staking CET can share FLUX rewards. CoinEx will take a snapshot of the amount of CET pledged by all participating users on each hour, and divide the FLUX rewards for that hour according to the proportion of the snapshots, and calculate and issue rewards every hour.
Hourly reward = your snapshot CET pledge amount/CET total pledge amount X hourly output
*Example: If user A's snapshot CET pledge amount at 12:00 is 1,000, the total CET pledge amount at that time is 100,000, and the hourly output is 10,000 FLUX, then:
Mining reward for user A at 12:00 = 1,000/100,000 * 10,000 = 100 FLUX
Entrance: https://www.coinex.com/activity/mining/stake/12
Notes:
1. Net recharge = recharge-withdrawal, transaction volume = purchase volume + sale volume, use of red envelopes and intra-site transfers during the event are also cash withdrawals;
2. Transfers within the station will not be included in the recharge amount;
3. The market maker account does not participate in recharge and trading activities;
4. Sub-accounts are not used as independent accounts to participate in activities, and the amount of sub-accounts and leveraged accounts are also calculated into the main account;
5. Cheating is prohibited in this activity. Once discovered, the qualification to participate in the activity will be cancelled;
6. Reward distribution: event rewards will be issued within 3 days after the event ends;
7. The final interpretation right of the event belongs to CoinEx.
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.
Risk Warning
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
CoinEx Team
June 2, 2021
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