Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list GALA and support deposit and withdrawal & Automated Market Making (AMM) on July 31, 2021 (UTC). And its trading pair GALA/USDT will be available on the same day.
1. Deposit: 03:00 July 31 (UTC)
2. Withdrawal: 03:00 July 31 (UTC)
3. Trading pair: GALA/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-10:50 July 31, 2021 (UTC)
Orders can be placed and canceled
10:50-11:00 July 31, 2021 (UTC)
Orders can be placed but cannot be canceled
Gala Games is a blockchain gaming platform. Gala Games desires to blow the doors wide open and give players back the control they deserve.
The GALA token is the digital utility token of the Gala Games ecosystem. It is cryptographically secured and native to the Gala Games ecosystem. GALA is transferable between users, and they have full control over how to use it. GALA powers the Gala Games Ecosystem. The first game produced for the Gala Games Ecosystem, Town Star, has a reward structure where the top 100 players are rewarded in GALA.
GALA is currently based on the Ethereum blockchain and conforms to the ERC-20 standard. GALA is a non-refundable utility token which will be used as the medium of exchange between participants in the Gala Games ecosystem. The goal of introducing GALA is to provide a convenient and secure mode of payment and settlement between participants who interact within the Gala Games ecosystem (for example, payment of digital goods or in-game items), GALA does not in any way represent any shareholding, participation, right, title, or interest in Gala Games or any other company, undertaking. GALA does not entitle holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities. This token was created to be utilized on the Gala Games ecosystem, and ownership of GALA carries no rights, express or implied.
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 a 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 30, 2021