Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list OOE and support deposit and withdrawal & Automated Market Making (AMM) on July 27, 2021 (UTC). And its trading pair OOE/USDT will be available on the same day.
1. Deposit: 07:00 July 27 (UTC)
2. Withdrawal: 07:00 July 27 (UTC)
3. Trading pair: OOE/USDT;
4. Opening method: Call Auction
a. Call Auction
07:00—10:50 July 27, 2021 (UTC)
Orders can be placed and cancelled
10:50-11:00 July 27, 2021 (UTC)
Orders can be placed but cannot be cancelled
OpenOcean is the world's first full aggregation protocol for crypto trading that source liquidity from DeFi and CeFi, and enable cross-chain swaps. Openocean's intelligent routing algorithm find the best prices from DEXes and CEXes, and split the routes to provide traders the best prices with low slippage and fast settlement. The function is free to use, OpenOcean users only need to pay the normal blockchain gas fees and exchange fees for the trades, which are charged by the exchanges and not OpenOcean.
OpenOcean aggregates major exchanges (DEXes and CEXes) and across Ethereum, Ethereum Layer 2 such as Loopring and Polygon, Binance Smart Chain, Solana, Ontology, TRON, and is the first full aggregator on Binance Smart Chain, TRON, Ethereum Layer 2, and Binance exchange.
Besides aggregation of swaps, OpenOcean will continue to aggregate derivative, yield, lending and insurance products, and launch it's own combined margin products and intelligent wealth management service. OpenOcean provides API and arbitrage tools for users to operate automated arbitrage strategies.
The vision is to build a full aggregator for crypto trading that increase capital efficiency and serves as a bridge connecting the isolated islands in the current fragmented DeFi and CeFi markets. Regardless of being small individual investor or large institution, everyone should have the opportunity to trade at the best prices and apply own investment strategies on various crypto asset classes.
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 26, 2021
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