Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list C98 and support deposit and withdrawal & Automated Market Making (AMM) on July 24, 2021 (UTC). And its trading pair C98/USDT will be available on the same day.
1. Deposit: 03:00 July 24 (UTC)
2. Withdrawal: 03:00 July 24 (UTC)
3. Trading pair: C98/USDT;
4. Opening method: Call Auction
a. Call Auction
03:00—10:50 July 24, 2021 (UTC)
Orders can be placed and cancelled
10:50-11:00 July 24, 2021 (UTC)
Orders can be placed but cannot be cancelled
11:00 July 24, 2021 (UTC)
Coin98 is an ecosystem of DeFi protocols, applications on multiple blockchains.
Coin98 Labs' first product is Coin98 Wallet, a non-custodial wallet that owns the multichain wallet engine. Coin98 Wallet is the core component of future multichain protocols/applications, serving as one entry to access numerous DeFi services across separate blockchains.
Coin98 Exchange, the liquidity aggregator of the Crypto universe, is always striving to integrate as many leading AMMs in the market as possible, including Uniswap, SushiSwap, PancakeSwap (V1&V2), MDEX and more. Coin98 Exchange powers instant and secure swap for a seamless experience across different blockchains with just one Multi-chain wallet on a single platform. To trade on Coin98 Exchange, users need to install Coin98 Extension Wallet and create a Multi-chain wallet. Users can also use single-chain wallets such as ETH or BSC wallets to trade on different AMMs.
Coin98 Portfolio is a pure crypto portfolio tracking product by Coin98 Labs, allowing users to monitor portfolios and price changes any time of the day, track and manage the growth of their assets with multi-chain wallet addresses.
The native utility token of Coin98 is C98 with the total supply of 1 billion. And C98 has the functions such as platform service fees, product development, staking incentives, governance and unique membership rights.
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 24, 2021
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