Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list SLP and support deposit and withdrawal & Automated Market Making (AMM) on June 21, 2021 (UTC). And its trading pair SLP/USDT will be available on the same day.
1. Deposit: 03:00 June 21 (UTC)
2. Withdrawal: 03:00 June 21 (UTC)
3. Trading pair: SLP/USDT;
4. Opening method: Call Auction
a. Call Auction
03:00—06:50 June 21, 2021 (UTC)
Orders can be placed and cancelled
06:50-07:00 June 21, 2021 (UTC)
Orders can be placed but cannot be cancelled
03:00 June 21, 2021 (UTC)
Smooth Love Potion (SLP) tokens are used to breed Axies, the pets in Axie Infinity.
Axie is a Pokémon-inspired universe where anyone can earn tokens through skilled gameplay and contributions to the ecosystem. Like real-world pets, Axies can be bred to create new offspring. To avoid hyperinflation of Axies there is a maximum amount of times an Axie can be bred.
Breeding an Axie costs some Smooth Love Potions depending on how many times the Axies have been bred.The cost of breeding begins at 150 SLP but increases gradually — rising to 300 SLP for the second breed, 450 for the third, 750 for the fourth, 1200 for the fifth, and 1,950 for the sixth. Axies can be bred a maximum of seven times, and the seventh breed costs 3,150 SLP(Updated on May, 2021)
Smooth Love potions can be earned by playing the game in PvE Adventure mode as well as the PvP Arena. This makes Axie Infinity distinguish from traditional game. 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!
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 21, 2021
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