Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list TRU and support deposit and withdrawal & Automated Market Making (AMM) on August 5, 2021 (UTC). And its trading pair TRU/USDT will be available on the same day.
1. Deposit: 03:00 August 5 (UTC)
2. Withdrawal: 03:00 August 5 (UTC)
3. Trading pair: TRU/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-06:50 August 5, 2021 (UTC)
Orders can be placed and canceled
06:50-07:00 August 5, 2021 (UTC)
Orders can be placed but cannot be canceled
TrueFi is a protocol for uncollateralized lending, powered by the first ever on-chain credit scores and governed by holders of the TRU token. The protocol is supported by three participants: the lender deposits assets such as stablecoins (such as TUSD) into the lending pool to obtain competitive returns (the TRU liquidity mining can be carried out while gaining income); the borrower ( For example, OTC desks, exchanges and other protocol platforms) take out loans from the lending pool after credit review; The TRU stakers is responsible for approving the new borrower, and the TrueFi Pool smart Contract decides whether to approve the loan based on the risk parameters and the TRU stakers’ opinion. Borrowers who default will face lawsuits and damage their credit scores. The value of TRU: 1) apply for loans; 2) voting; 3) staking. The goal of TrueFi is to bring uncollateralized lending to DeFi. This helps cryptocurrency lenders enjoy attractive, sustainable rates of return, while giving cryptocurrency borrowers predictable loans that maximize their working capital.
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 4, 2021