Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list DPET and support deposit and withdrawal & Automated Market Making (AMM) on August 9, 2021 (UTC). And its trading pair DPET/USDT will be available on the same day.
1. Deposit: 03:00 August 9 (UTC)
2. Withdrawal: 03:00 August 9 (UTC)
3. Trading pair: DPET/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-06:50 August 9, 2021 (UTC)
Orders can be placed and canceled
06:50-07:00 August 9, 2021 (UTC)
Orders can be placed but cannot be canceled
07:00 August 9, 2021 (UTC)
My DeFi Pet is a a virtual pet game that combines DeFi, collectibles and your own personality. It is operated on Supported Network including Binance Smart Chain and KardiaChain.
The features of My DeFi Pet is as follows:
1.Collect. New monster is born every hour, and bidding lasts for 24 hours.
2.Breed. Users can create a new generation of monsters by breeding any two monsters.
3.Evolve. A monster has many stages of evolution depending on the Rarity. Evolution ensures cool new appearance and enhanced stats.
4.Season and Events. Collect and maxout Legendary monster to claim lucrative prizes.
5.Battle. Unique battle mode in next seasons & Win ultra-rare rewards.
6.Trading, Ranking & Social Features.
DPET token is the main in-game currency. It will be used for trading, exchanging, improving the Pets and their special qualities, mainly in the first phase. DPET token has four major functions:
1.In-game Currency. Most items in the game will be payable using DPET tokens.
2.Governance. Vote for new features and settings of the game to earn special rewards. Lock DPET tokens for a certain time to gain voting power.
3.Staking. Become part of the game by staking DPET tokens into pools. Different pools will yield different returns such as new items, new eggs, or DPET tokens.
4.Play 2 Earn. Simply playing can also get DPET tokens via mission and social mining.
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 9, 2021