Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list STMX and support deposit and withdrawal & Automated Market Making (AMM) on May 31, 2021 (UTC). And its trading pair STMX/USDT will be available on the same day.
About STMX
Website丨Explorer丨White paper
StormX is a mobile app as well as Chrome extension that allows users to earn crypto in a multitude of ways. StormX members use the crypto cash back app or Chrome button whenever they buy stuff online. The Button operates in the background seamlessly and gets users anywhere between 0.5% to over 85% in crypto rewards depending on the store and their membership level. StormX members automatically level up to the Purple tier when they connect a wallet within the app, but the real magic begins when they level up to Bronze, Silver, Gold, Platinum and finally Diamond. Each tier provides increased Crypto Cash Back, so for people who are shopping online anyway, it makes sense to buy STMX, deposit it in the app and then earn even more crypto cash back every time they make a purchase at one of their favorite stores. StomX’s token model provides real incentives for members to not just purchase STMX tokens but to also USE them. StormX originally minted 10 billion STORM tokens back in 2017. In the summer of 2020 StormX did a 'token swap' and changed the ticker from STORM to STMX. The new smart contract has 2 main benefits: improved security by removing “god mode” and the ability for us to allow members to stake their STMX tokens.
STMX Services
1. Deposit: 7:00 May 31 (UTC)
2. Withdrawal: 7:00 May 31 (UTC)
3. Trading pair: STMX/USDT
4. Opening method: Call Auction
a. Call Auction
7:00 - 10:50 May 31, 2021 (UTC)
Orders can be placed and cancelled
10:50 - 11:00 May 31, 2021 (UTC)
Orders can be placed but cannot be cancelled
b. Trading
11:00 May 31, 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.
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
May 31, 2021
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