Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list AMP and support deposit and withdrawal & Automated Market Making (AMM) on June 17, 2021 (UTC). And its trading pair AMP/USDT will be available on the same day.
1. Deposit: 02:00 June 17 (UTC)
2. Withdrawal: 02:00 June 17 (UTC)
3. Trading pair: AMP/USDT;
4. Opening method: Call Auction
a. Call Auction
02:00—09:50 June 17, 2021 (UTC)
Orders can be placed and cancelled
09:50-10:00 June 17, 2021 (UTC)
Orders can be placed but cannot be cancelled
10:00 June 17, 2021 (UTC)
Amp is the new digital collateral token offering instant, verifiable assurances for any kind of value transfer. Using Amp, networks like Flexa can quickly and irreversibly secure transactions for a wide variety of asset-related use cases.
Amp offers a straightforward but exceptionally versatile interface for verifiable collateralization through a system of collateral partitions and collateral managers. Where collateral partitions can be designated to collateralize any account, application, or even transaction, and carry balances which are directly verifiable on the Ethereum blockchain, collateral managers are smart contracts that can lock, release, and redirect collateral in these partitions as needed in order to support value transfer activities.
Amp supports a wide variety of use cases for collateralization, and also introduces the concept of predefined partition strategies, which can enable special capabilities such as collateral models through which tokens can be staked without ever leaving their original address.
Flexa is a payments network that enables fast and fraud-proof payments for merchants all over the world. By using Amp partitions as collateral pools, Flexa can secure payment authorizations while the underlying asset remains unconfirmed, and approve merchant transactions in close to real-time. In helping to develop the Amp token, Flexa contributed two years of research and development to the token architecture and design, and developed and released the first Amp collateral manager contract as open source.
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 17, 2021
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