Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list INST and support deposit and withdrawal & Automated Market Making (AMM) on July 8, 2021 (UTC). And its trading pair INST/USDT will be available on the same day.
1. Deposit: 03:00 July 8 (UTC)
2. Withdrawal: 03:00 July 8 (UTC)
3. Trading pair: INST/USDT;
4. Opening method: Call Auction
a. Call Auction
03:00—10:50 July 8, 2021 (UTC)
Orders can be placed and cancelled
10:50-11:00 July 8, 2021 (UTC)
Orders can be placed but cannot be cancelled
11:00 July 8, 2021 (UTC)
The InstaDApp platform is a full feature platform for both users and developers to leverage the full potential of DeFi. The Instadapp’s ecosystem is known as the “DeFi Smart Layer(DSL)”. DeFi Smart Layer (DSL) is a financial infrastructure layer for the decentralized internet, to make accessing and maximizing DeFi easy for all users and developers. DSL consists of a smart contract account standard, composable connectors to base DeFi protocols, and an authorization framework that allows extremely modular permissions. Additionally, the Instadapp protocol ('DSL') acts as the middleware that aggregates multiple DeFi protocols into one upgradable smart contract layer. This structure allows Instadapp to access the full potential of Decentralized Finance. The main functionalities of the DSL are account extensions and upgradability and the unique upgradability means that the upcoming and new extensions will be upgraded, maintained and managed by INST governance. INST is InstaDApp’s governance token, and live on Ethereum mainnet. All protocol upgrades will occur transparently through open community discussion and INST-holder voting. Instadapp is envisioned to become a one stop solution to manage funds on Decentralized Financial Protocols in a very user-friendly manner.
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
July 7, 2021
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