Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list HARD and support deposit and withdrawal & Automated Market Making (AMM) on June 8, 2021 (UTC). And its trading pair HARD/USDT will be available on the same day.
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HARD is a cross-chain money market that enables users to earn more with their digital assets. With HARD users will now be able to lend, borrow, and earn with assets like BTC, XRP, BNB, KAVA, and USDX. It utilizes the Kava blockchain’s security, price feed module, and cross-chain functionality to provide open and decentralized financial services to the world.
HARD is an application built on Kava, as such, it leverages Kava’s existing validators for security, bridges for cross-chain asset transfer, and partners services such as Chainlink oracles for price-reference data. When Hard Money Market V2 launched on April 8, 2021, Hard Money Market enabled borrowing of additional assets.
There are three major activities in HARD Protocol:
Supply — Users can safely supply their digital assets on HARD and earn interest.
Borrow — Users can use their digital assets as collateral to borrow others.
Earn — Suppliers and borrowers earn HARD, the governance token of the application.
The HARD token is an asset on the Kava Chain. It is given as a reward for supplying and borrowing on the Hard app. The HARD token primary role is to give holders a voice in the platform. Collectively, HARD holders are responsible for managing key parameters of the protocol such as what assets are to be offered, how rewards are distributed amongst assets, as well as set any platform fees, etc. HARD tokens is also used to incentivize early participants giving them a voice in the ongoing evolution and management of the application.
1. Deposit: 2:00 June 8 (UTC)
2. Withdrawal: 2:00 June 8 (UTC)
3. Trading pair: HARD/USDT;
4. Opening method: Call Auction
a. Call Auction
2:00—5:50 June 8, 2021 (UTC)
Orders can be placed and cancelled
5:50-6:00 June 8, 2021 (UTC)
Orders can be placed but cannot be cancelled
6:00 June 8, 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 8, 2021
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