Dear CoinEx users,
To provide more trading options, after rigorous reviews, CoinEx will list MONA at 7:00 on June 3, 2021 (UTC), and launch “MONA Listing Campaign: Deposit & Trade MONA to Share 17,000 USD worth of MONA” event. The details are as follows:
MONA Services
1. Deposit: 07:00 June 3 (UTC)
2. Withdrawal: 00:00 June 8 (UTC)
3. Trading pair: MONA/USDT; MONA/BTC
4. Opening method: Call Auction
a. Call Auction
07:00—10:50 June 3, 2021 (UTC)
Orders can be placed and cancelled
10:50-11:00 June 3, 2021 (UTC)
Orders can be placed but cannot be cancelled
b. Trading
11:00 June 3, 2021 (UTC)
About MONA
Website丨Explorer丨White paper
Monacoin is the first alternative cryptocurrency developed in Japan in December 2013, based on the popular ASCII art character, Mona.
Monacoin is not a payment system controlled by one single entity, but a fully distributed payment system preserved by everyone who uses it via client applications running on their computers.
While much of the world treats most cryptocurrencies as speculative ventures, Monacoin is a cryptocurrency popularized by the initiative of its community: it continues to be nurtured and built upon not by a core development team but by its enthusiastic user base. To give some examples, Monacoin users have brought up various kinds of Mona-based web applications and services, have erected shrines in appreciation of Monacoin, regularly play word games when tipping others (known as "monage" (モナゲ, lit. "throwing mona")), and otherwise use the coin in ways users of most other coins would never have thought of.
Token distribution Through a process called "mining", coins are issued to users running programs to perform computational work.
Since Monacoin's launch, Monacoinproject has not set aside any coins for theirselves (known as "premining") - in other words, the developer of the coin and all of its users all have had the same conditions for obtaining coins from the very beginning (this can be confirmed by anyone by inspecting the blockchain).
The details of “MONA Listing Campaign: Deposit & Trade MONA to Share 17,000 USD worth of MONA” event are as follows:
Event 1: Deposit to share 4,000 MONA
Duration: 07:00 June 3, 2021 - 00:00 June 7, 2021 (UTC)
During this period, with a net deposit of every 50 MONA, user can get a reward of 2 MONA (max. 20 MONA per user). CoinEx will give away 4,000 MONA in total on a first-come-first-served basis.
Event 2: Trade to share 4,000 MONA
Duration: 10:00 June 3, 2021 - 00:00 June 10, 2021 (UTC)
During this period, with a trading volume of 100 USD worth of MONA and above, user can participate in the ranking to share 4,000 MONA proportionally. The detailed rewards are shown as below.
|
Ranking |
Reward per user（MONA） |
Total rewards（MONA） |
|
1 |
500 |
500 |
|
2 |
300 |
300 |
|
3-5 |
200 |
600 |
|
6-10 |
60 |
300 |
|
11-50 |
20 |
800 |
|
51-100 |
10 |
1,500 |
Notes:
1. Net Deposit= Deposit - Withdrawal. Trading volume = Buying + Selling. During these events, any operation related to Red Packet feature and Inter-user Transfer will be deemed as withdrawal.
2. Inter-user Transfer will not be calculated into Deposit volume.
3. Market making accounts are not included in this event.
4. Sub-accounts are not allowed to participate as an independent account, and the deposit volume of sub-accounts and leveraged accounts are also calculated into main-accounts.
5. During the event, should any cheating behavior be found, the user will be disqualified.
6. Reward distribution: Event rewards will be issued within 3 day after the event.
7. CoinEx reserves the right of final interpretation of these events.
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 3, 2021
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