Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list TOWER and support deposit and withdrawal & Automated Market Making (AMM) on Aug 2, 2021 (UTC). And its trading pair TOWER/USDT will be available on the same day.
1. Deposit: 03:00 Aug 2 (UTC)
2. Withdrawal: 03:00 Aug 2 (UTC)
3. Trading pair: TOWER/USDT;
4. Opening method: Call Auction
a. Call Auction
03:00—10:50 Aug 2, 2021 (UTC)
Orders can be placed and cancelled
10:50-11:00 Aug 2, 2021 (UTC)
Orders can be placed but cannot be cancelled
11:00 Aug 2, 2021 (UTC)
The "Tower Experiment" is an initiative by developer and publisher Animoca Brands to blend traditional Free-to-Play gaming with the Play-to-Earn potential of blockchain gaming. The goal is to build a system that maintains balance and equitability in traditional Free-to-Play games while introducing various attractive features of blockchain, including non-fungible tokens (NFTs), decentralized finance (DeFi), and governance.
The TOWER Platform includes:
· The Crazy Kings (CK) and Crazy Defense Heroes (CDH) mobile games: existing successful mobile games, with over 2 million downloads and thousands of loyal players. CK and CDH are tower defense games based on collectible cards of various rarities and power. Players are now able to earn TOWER Tokens by playing these games.
· An upcoming blockchain PC game: a new game under development will be the newest entry in the game franchise. The new game will allow users to use their Crazy Kings franchise NFTs, earn TOWER Tokens by playing, and participate in various activities such as tournaments. Together with CK and CDH, this game comprises the Crazy Kings franchise.
· The TOWER Token (or simply TOWER): ERC-20 token on the Ethereum blockchain designed to be a medium of exchange, utility, and governance for the Crazy Kings franchise. Earned by playing the games in the franchise. Holders of TOWER will use it to purchase items such as game card NFTs, pay for game or tournament entry fees, and participate in the governance of the games.
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
Aug 2, 2021
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