Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list HIVE and support deposit and withdrawal & Automated Market Making (AMM) on July 30, 2021 (UTC). And its trading pair HIVE/USDT and HIVE/BTC will be available on the same day.
1. Deposit: 03:00 July 30 (UTC)
2. Withdrawal: 03:00 July 30 (UTC)
3. Trading pairs: HIVE/USDT, HIVE/BTC;
4. Opening method: Call Auction
a. Call Auction
03:00—06:50 July 30, 2021 (UTC)
Orders can be placed and cancelled
06:50-07:00 July 30, 2021 (UTC)
Orders can be placed but cannot be cancelled
Hive is an innovative decentralized blockchain and ecosystem built on the Delegated Proof of Stake (DPoS) protocol. It is a highly-scalable DPoS blockchain independent of central authority that addresses the problems of mass adoption and versatility of use. Hive allows the easy storage and retrieval of immutable strings of data and information. It supports three-second zero fee transactions and is designed to store vast amounts of content and to make it available for time-based monetization. Instead of requiring potentially costly and inconvenient transaction fees, Hive uses a novel stake-based Resource Credit mechanism to create a fee-less model. Hive also aims to overcome mainstream adoption shortcomings in blockchain technology and content publishing by improving on their accessibility. It leverages the coined Proof-of-Brain (PoB) concept by distributing a portion of the inflation to content creators and consumers. To earn without financial investment, individuals partake in a wide range of activities. Those include blogging, participating in discussions, curating others, building and engaging with DApps, playing games and more; their limits are only constrained by their own imagination to further the decentralization of the system. All content is always readily-available on the blockchain and retains its original integrity. Since its inception, Hive has steadily grown as an ecosystem. Myriad DApps, APIs and front-ends contribute to a general and straightforward accessibility of data, transactions and records, so that this existing diversity and utility ensure that the ecosystem is welcoming to content creators, consumers, investors and builders.
The Hive network comes with two classes of cryptocurrency assets named HIVE and Hive Backed Dollars (HBD). Moreover, HIVE exists both under a liquid form (simply called HIVE) and a staked form (called Hive Power). HIVE is the liquid currency of the Hive ecosystem. It may be traded, staked, bought, and sold. Hive Backed Dollars are intended to be pegged to the United States Dollar (USD) at a one to one rate.
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 29, 2021
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