Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list ETN and support deposit and withdrawal & Automated Market Making (AMM) on June 16, 2021 (UTC). And its trading pair ETN/USDT and ETN/BTC will be available on the same day.
1. Deposit: 07:00 June 16 (UTC)
2. Withdrawal: 07:00 June 16 (UTC)
3. Trading pair: ETN/USDT;ETN/BTC
4. Opening method: Call Auction
a. Call Auction
07:00—10:50 June 16, 2021 (UTC)
Orders can be placed and cancelled
10:50-11:00 June 16, 2021 (UTC)
Orders can be placed but cannot be cancelled
11:00 June 16, 2021 (UTC)
Electroneum is a Fast, Secure, Mobile Based Cryptocurrency. It has been developed to allow anyone, regardless of technical ability, easy access to a cryptocurrency.
Electroneum uses a cryptographically sound system to allow users to send and receive their tokens without their transactions being easily revealed on the blockchain. This ensures that all token transfers remain absolutely private by default, but if necessary, can be proven to a third party by providing specific keys.
The Electroneum v22.214.171.124 release introduced some fairly radical changes to the Electroneum blockchain, those consisting on a new consensus algorithm called Proof of Responsibility and change from a full permission-less blockchain to a Moderated Blockchain. Proof of Responsibility enables a decentralised network layer that is run by responsible global organisations operating in the real world that have been qualified to participate.
A Moderated Blockchain, powered by the Proof of Responsibility consensus algorithm, allow Electroneum Ltd to have more control over the blockchain while keeping a good degree of decentralization. This ultimately improves security while making the blockchain’s commercial & economic model more attractive. Besides these main features, it included a few minor changes that contributes to the blockchain’s operability and scalability.
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 16, 2021
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