CoinEx Will List EFI on August 6 – CoinEx Announcements

Dear CoinEx users,

To provide you with more trading options, after rigorous reviews, CoinEx will list EFI and support deposit and withdrawal & Automated Market Making (AMM) on August 6, 2021 (UTC). And its trading pair EFI/USDT will be available on the same day.

EFI Services

1. Deposit: 07:00 August 6 (UTC)

2. Withdrawal: 07:00 August 6 (UTC)

3. Trading pair: EFI/USDT

4. Opening method: Call Auction

a. Call Auction

07:00-10:50 August 6, 2021 (UTC)

Orders can be placed and canceled

10:50-11:00 August 6, 2021 (UTC)

Orders can be placed but cannot be canceled

b. Trading

11:00 August 6, 2021 (UTC)

About EFI
Website丨Explorer丨 Whitepaper

EFI is a scalable, decentralized and cross-chain network designed to bring non-fungible tokens to everyone. EFI provides a platform that can deliver a modern, mainstream and developer-friendly NFT experience for business and developer. Ethereum and Bitcoin reward miners with coins for securing the chain, but there aren’t similar incentives in the NFT industry to fuel growth and development. Efinity compensates network participants with the EFI token:Collator Nodes who run the network; Users who govern the direction of the network; Buyers and sellers who facilitate price discovery; Developers who propose projects built on Efinity are eligible for grants from the community pool;Early adopters and creators increase their token value with bonding curves and liquidity.

Efinity Token (EFI) will be the main utility Paratoken deployed on the network. Orders and trades on-chain are charged a transaction fee (approximately 2.5%) that is distributed to EFI pools on the network. Developers can also charge additional fees to profit from transactions conducted by third party apps and smart contracts using Efinity.

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.

Risk Warning
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

CoinEx Team
August 6, 2021

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