Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list BUNNY and support deposit and withdrawal & Automated Market Making (AMM) on June 15, 2021 (UTC). And its trading pair BUNNY/USDT will be available on the same day.
1. Deposit: 07:00 June 15 (UTC)
2. Withdrawal: 07:00 June 15 (UTC)
3. Trading pair: BUNNY/USDT;
4. Opening method: Call Auction
a. Call Auction
07:00—10:50 June 15, 2021 (UTC)
Orders can be placed and cancelled
10:50-11:00 June 15, 2021 (UTC)
Orders can be placed but cannot be cancelled
11:00 June 15, 2021 (UTC)
PancakeBunny is a new and rapidly growing DeFi yield aggregator that is used for PancakeSwap. The PancakeBunny protocol empowers farmers to leverage their yield-seeking tendencies to optimize yield compounding strategy on BSC. PancakeBunny is providing strategies for the various needs of farmers from the highest yield seekers to the risk reward optimizing smart investors.
Besides, the Zap feature PancakeBunny added essentially allows for a user to directly switch from single asset to an LP Token, with just a click of a button without having to go to PancakeSwap and switch out different assets. Users can also just switch between different assets. There is no additional fee for this zap; PancakeBunny built this tool for the convenience of users.
BUNNY Token is PancakeBunny's native governance token. BUNNY holders govern PancakeBunny ecosystem and receive the majority of farm performance fee profits. Holding/Staking BUNNY is not only beneficial for individual profits, but also ensures the Bunny Ecosystem runs smoothly.
The BUNNY token doesn’t have a max supply. For every 1 BNB earned in the performance fees, a certain amount of Bunny is minted, so supply is not capped at the moment. BUNNY is minted via the project’s smart contracts. When the user executes a Claim on their profits in a given Pool, they receive 70% of the profit’s value in the respective auto-compounded farm token, and receive 30% of the profit’s value in BUNNY.
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 15, 2021
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