Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list CELR and support deposit and withdrawal & Automated Market Making (AMM) on June 8, 2021 (UTC). And its trading pair CELR/USDT will be available on the same day.
Website丨Explorer丨 White paper
Celer Network is a coherent layer2 scalability platform with multi-chain and cross-layer support. By combining State Channel and Layer-2 Rollup together, Celer serves as a platform to cater to a diverse set of applications such as micropayment, DeFi and gaming in a complex scalability tradeoff space: be the focus real-time low latency, high throughput or low-cost. The followings are key technology of Celer Network.
Celer State Channel offers instant transaction settlement, real-time interaction, and frictionless bridging of multi-chain and multi-layer assets.
Celer Rollup scales up layer1 blockchain by acting as a separate and faster chain with a strong tie to the layer1 blockchain to draw “security power” from the layer1 blockchain. This separate layer2 rollup chain carries out computation and stores data of its own. However, “execution trace” including instructions about chain state transition (i.e. “calldata”) and highly compressed chain state (i.e. “stateroot”) is continuously streamed to the layer1 chain. With all these execution traces, whenever needed, layer1 can be used to verify if the state transition on layer2 is valid and stop any malicious attempts on layer2. Celer’s rollup is suitable to solve the scalability challenge on L1 for a wide range of application scenarios with an initial focus on DeFi applications.
State Guardian Network (SGN) is a decentralized L2 service infrastructure. It serves multiple purposes essential to the Celer L2 platform’s smooth operation. First, it serves as a decentralized “watch tower” service that ensures users’ state in the Celer State Channel Network is safely stored and responds to any L1 settlements when users are offline. Second, it serves as a decentralized block producer layer for Celer Rollup to ensure high level of liveness, incentive compatible block producer election and finally additional layer of security.
CELR token is the utility token that is required to participate in the State Guardian Network and provide various layer-2 services for Celer Network users.
1. Deposit: 7:00 June 8 (UTC)
2. Withdrawal: 7:00 June 8 (UTC)
3. Trading pair: CELR/USDT;
4. Opening method: Call Auction
a. Call Auction
7:00—10:50 June 8, 2021 (UTC)
Orders can be placed and cancelled
10:50-11:00 June 8, 2021 (UTC)
Orders can be placed but cannot be cancelled
11:00 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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