Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list ORN and support deposit and withdrawal & Automated Market Making (AMM) on August 13, 2021 (UTC). And its trading pair ORN/USDT will be available on the same day.
1. Deposit: 07:00 August 13 (UTC)
2. Withdrawal: 07:00 August 13 (UTC)
3. Trading pair: ORN/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-10:50 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
Built on the most advanced liquidity aggregator ever developed, Orion Protocol solves some of the largest issues in DeFi by aggregating the liquidity of the entire crypto market into one decentralized platform. Governing the protocol is the proprietary staking mechanism Delegated Proof of Broker, fulfilling every function via a decentralized brokerage with the supply-capped ORN token at its core. This underpins each industry-critical solution built on the protocol, from Orion Terminal to Orion Enterprise solutions for blockchains, exchanges, and crypto projects, with thirteen different revenue streams.
Orion is a new kind of DeFi platform that combines the best features of exchanges, brokerages, and instant trading apps. The platform is built around a liquidity aggregator connected to all of the major crypto exchanges and swap pools (centralized and decentralized), enabling users to gain the best price for their trades from a single portal. Along with powerful tools for portfolio management, Orion offers exceptional security, convenience, and flexibility. The platform is suitable for experienced traders, institutional traders, and newcomers alike.
The Orion platform and ecosystem is powered by the ORN token, an ERC-20 token. All major activities on the Orion platform can be paid for with the Orion utility token (ORN). While other currencies will be accepted, paying with ORN will secure a discount for fees and other functions. Non-ORN payments will be converted to ORN in real-time at the best price on any available exchanges. Additionally, ORN will be the currency of payment for all services provided by the Orion Protocol.
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 12, 2021