Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list UTK and support deposit and withdrawal & Automated Market Making (AMM) on August 11, 2021 (UTC). And its trading pair UTK/USDT will be available on the same day.
1. Deposit: 07:00 August 11 (UTC)
2. Withdrawal: 07:00 August 11 (UTC)
3. Trading pair: UTK/USDT
4. Opening method: Call Auction
a. Call Auction
07:00—10:50 August 11, 2021 (UTC)
Orders can be placed and cancelled
10:50-11:00 August 11, 2021 (UTC)
Orders can be placed but cannot be cancelled
11:00 August 11, 2021 (UTC)
Utrust is a seamless integration that enables e-commerce businesses to accept digital currencies and reap all the benefits that traditional payment methods cannot provide. UTRUST is a revolutionary payment platform that enables buyers to use their favorite cryptocurrency in order to pay sellers (private or merchant). The Utrust platform provides the seller with the security and convenience of receiving legal tender funds and provides the best protection for consumers by acting as a trusted middleman for the quote. The platform combines the best payment protection features of contemporary Fiat systems with the innovative features of blockchain.
The Utrust platform also acts as a mediator in users' online purchases, providing consumer protection, resolving conflicts and refunds to consumers, mitigating the risk of online fraud, and protecting merchants from cryptocurrency price fluctuations. The Utrust platform wants to use the characteristics of cryptocurrencies to enable fast transactions, reduce cross-border transaction fees and other fees, and enable merchants to sell to the growing number of global cryptocurrency holders. The UTK is the platform's native token, and users can pay merchants for the UTK, as well as sell or exchange UTK tokens.
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%, for market makers is 0.15%. VIP 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 11, 2021
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