Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list AXS and support deposit and withdrawal & Automated Market Making (AMM) on June 18, 2021 (UTC). And its trading pair AXS/USDT will be available on the same day.
1. Deposit: 02:00 June 18 (UTC)
2. Withdrawal: 02:00 June 18 (UTC)
3. Trading pair: AXS/USDT;
4. Opening method: Call Auction
a. Call Auction
02:00—05:50 June 18, 2021 (UTC)
Orders can be placed and cancelled
05:50-06:00 June 18, 2021 (UTC)
Orders can be placed but cannot be cancelled
06:00 June 18, 2021 (UTC)
Axie Infinity is a digital pet universe on the Blockchain. It is a Pokémon-inspired universe where anyone can earn tokens through skilled gameplay and contributions to the ecosystem. Players can battle, collect, raise, and build a land-based kingdom for their pets.
All art assets and Axie genetic data can be easily accessed by 3rd parties, allowing community developers to build their own tools and experiences in the Axie Infinity universe.
While Axie is a fun game, it's also taken on characteristics of a social network and jobs platform due to the strong community and play to earn opportunities that have come from its early success.
The key difference between Axie and a traditional game is that Blockchain economic design is used to reward players for their contributions to the ecosystem. This new model of gaming has been dubbed "play to earn". Axie has attracted thousands of players from developing countries in the pursuit of a new income stream during the Covid pandemic. Many of these players are fathers, aunts, and even grandparents who have never used Blockchain technology before!
Players can earn by:
Competing in PVP battles to win leaderboard prizes.
Breeding Axies and selling them on the marketplace.
Collecting and speculating on rare Axies such as Mystics and Origins.
Farming for the love potions that are needed to breed Axies. These can be sold on exchanges.
Axie Infinity Shards(AXS) are an ERC-20 governance token for the Axie Universe. AXS holders will be able to claim rewards if they stake their tokens, play the game, and participate in key governance votes. Players will also be able to earn $AXS when they play various games within the Axie Infinity Universe and through user-generated content initiatives.
The goal with Axie Infinity Shards is to align the incentives between the players of the game and the developers in novel and exciting ways. The mechanisms described above have two main goals:
To reward players for interacting with Axie Infinity while simultaneously incentivizing them to hold on to their tokens so they can claim additional rewards.
To decentralize the ownership and governance of Axie Infinity.
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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