Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list ERN and support deposit and withdrawal & Automated Market Making (AMM) on June 29, 2021 (UTC). And its trading pair ERN/USDT will be available on the same day.
1. Deposit: 07:00 June 29 (UTC)
2. Withdrawal: 07:00 June 29 (UTC)
3. Trading pair: ERN/USDT;
4. Opening method: Call Auction
a. Call Auction
07:00—10:50 June 29, 2021 (UTC)
Orders can be placed and cancelled
10:50-11:00 June 29, 2021 (UTC)
Orders can be placed but cannot be cancelled
11:00 June 29, 2021 (UTC)
Ethernity Chain is a community-oriented platform that produces limited edition authenticated NFTs and trading cards created by top artists and endorsed by notable figures. Built on the Ethereum Network, it aims to build the biggest A-NFT library, reward its creators and raise funds for charitable causes forever. It’s a win-win situation in which everyone benefits, from NFT collectors to charities that work with some of the most vulnerable members of society.
Its unique DEFI applications allow ERN token holders to farm rare A-NFTs, Stake, Farm and vote on proposals that will amend the Ethernity Chain ecosystem. You can get exclusive NFTs by auction sales or farming ERNs and accumulate rewards that you can use to redeem collectibles. A portion of the sales proceeds goes to our charity partners.
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 29, 2021
Follow us Facebook | Twitter | Reddit
Contact us Support | Telegram
About us Website | Announcements | APP