Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list FARM and support deposit and withdrawal & Automated Market Making (AMM) on August 12, 2021 (UTC). And its trading pair FARM/USDT will be available on the same day.
1. Deposit: 03:00 August 12 (UTC)
2. Withdrawal: 03:00 August 12 (UTC)
4. Opening method: Call Auction
a. Call Auction
03:00-10:50 August 12, 2021 (UTC)
Orders can be placed and canceled
10:50-11:00 August 12, 2021 (UTC)
Orders can be placed but cannot be canceled
Harvest Finance is a yield farming protocol that lets users put their assets to work in high-producing farming opportunities. Harvest is an international cooperative of humble farmers pooling resources together in order to earn DeFi yields. When farmers deposit, Harvest automatically farms the highest yields with these deposits using the latest farming techniques. Farming was highly manual and inconvenient for people that had a normal job and didn’t want to keep up with DeFi 24/7. We automate farming by doing regular harvesting of crops on over 100 different farms. Manual farming is very expensive because gas prices are really high. Harvest Finance saved over $50m in gas costs for our users via automation.
FARM is a cashflow token for Harvest. When Harvest generates yields, 70% of these yields are used to increase the value of the deposits. The other 30% are converted into FARM tokens which are used for:
Rewarding farmers who staked their FARM into the FARM pool on the front page.
Increasing the value of iFARM - the yield-bearing FARM. iFARM is using the FARM pool under the hood.
In addition, the FARM pool also receives weekly FARM emissions from the total supply of 690,420.
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%, 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