Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list CLV and support deposit and withdrawal & Automated Market Making (AMM) on July 16, 2021 (UTC). And its trading pair CLV/USDT will be available on the same day.
1. Deposit: 07:00 July 16 (UTC)
2. Withdrawal: 07:00 July 16 (UTC)
3. Trading pair: CLV/USDT;
4. Opening method: Call Auction
a. Call Auction
07:00—10:50 July 16, 2021 (UTC)
Orders can be placed and cancelled
10:50-11:00 July 16, 2021 (UTC)
Orders can be placed but cannot be cancelled
11:00 July 16, 2021 (UTC)
Website丨Explorer丨 White paper
Clover is a Substrate-based Polkadot parachain. Clover is committed to providing easy-to-use blockchain infrastructure and creating a one-stop comprehensive infrastructure platform, which aims to reduce the threshold and cost for developers.
Clover is a Blockchain Operating System, which contains storage layer, smart contract layer, Defi protocol layer and eApp layer, in details:
Storage layer: Storage protocol layer supports distributed storage of dApp data. The supported protocols are IPFS, AR, CRUST etc.
Smart contract layer: It supports one-stop cross-chain deployment and calls of dApp. Clover provides a Web3-compatible API, and existing web3 dApps can be migrated to Clover without any change needed.
Defi protocol layer: It supports various basic Defi protocols, such as Swap, Lending, Insurance, etc. It also provides a platform on where developers can build their own Defi protocols. Also, Clover provides a drag-drop smart contract compiler, which is easy-to-use, faultless and can be compiled to WASM.
eApp layer: It supports the evolution from dApp to eApp (External App). Developers can build and deploy their eApp easily on Clover, without the need for machines, domain names, or network bandwidth.
By building on top of Substrate, Clover is able to leverage the extensive functionalities that Substrate provides out-of-the-box, rather than needing to build them from scratch. These functionalities include peer-to-peer networking, consensus mechanisms, governance functionality, EVM implementation, and more.
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 16, 2021
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