Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list DDX and support deposit and withdrawal & Automated Market Making (AMM) on August 13, 2021 (UTC). And its trading pair DDX/USDT will be available on the same day.
1. Deposit: 03:00 August 13 (UTC)
2. Withdrawal: 03:00 August 13 (UTC)
3. Trading pair: DDX/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-10:50 August 13, 2021 (UTC)
Orders can be placed and canceled
10:50-11:00 August 13, 2021 (UTC)
Orders can be placed but cannot be canceled
DerivaDEX is a community-governed derivatives exchange that unites performance and autonomy. It is a new kind of exchange with key performance advantages, including a real-time price feed, fast trade resolution, and a competitive fee structure. From Day1, DerivaDEX is a DAO where traders and token holders control the platform while users vote on features relating to the exchange. It also features insurance fund which provides a world-class trader experience. Insurance mining bootstraps capital for the insurance fund. Users stake to the insurance fund and receive DDX.
DDX is the native token of DerivaDEX. DDX is used to govern the project via the DerivaDAO. DDX is also used for fee reductions and for staking opportunities.100,000,000 DDX are emitted over a 10-year period. There is no additional supply or inflation planned for DDX. 50 million DDX are emitted initially as part of the genesis supply. The other 50 million DDX are emitted over a 10-year period as part of the liquidity mining supply.
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 13, 2021