Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list SKILL and support deposit and withdrawal & Automated Market Making (AMM) on August 3, 2021 (UTC). And its trading pair SKILL/USDT will be available on the same day.
1. Deposit: 03:00 August 3 (UTC)
2. Withdrawal: 03:00 August 3 (UTC)
3. Trading pair: SKILL/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-10:50 August 3, 2021 (UTC)
Orders can be placed and canceled
10:50-11:00 August 3, 2021 (UTC)
Orders can be placed but cannot be canceled
CryptoBlades is a revolutionary web-based NFT role-playing game launched on the Binance Smart Chain and brought to existence by the group of Riveted Games. The core of the game revolves around rewarding players with SKILL tokens after defeating enemies and participating in raids. They can hire additional characters, forge unique weapons, and reforge those weapons to increase their overall power. Players can also trade their characters and weapons on an open marketplace. They can also stake their SKILL earnings and receive additional SKILL as a reward.
CroptoBlades’s vision is for gamers to regain control of their digital assets, Play to Earn, and increase the adoption of blockchain technology in their everyday lives. CroptoBlades’s mission is to provide a fun and profitable experience for our players, to create a healthy and excited community around blockchain gaming and build an ecosystem of Play to Earn systems to meet the needs of all gamers around the world.
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
August 2, 2021