Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list REQ and support deposit and withdrawal & Automated Market Making (AMM) on August 13, 2021 (UTC). And its trading pair REQ/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: REQ/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
Request is an open network for transaction requests. It allows anyone to create, store and access invoices and receipts in a universal, decentralized network.
Request gateways reduce the complexity of interacting with the blockchain. No need to manage different contracts, specific libraries, and gas. Gateways enable blockchain interactions as easily as any other SaaS, through HTTP APIs.
Request ensures privacy and GDPR compliance. Data regarding requests is encrypted and safeguarded using elliptic-curve encryption. And while all data is saved in a public blockchain to prevent interference, it can only be read by the parties involved in the request.
With every new version, Request can handle more and more transactions per second. That's because the bulk of the data is saved on IPFS instead of on the blockchain. What is stored on the blockchain is the hash (the proof of the data). That way, it can't be modified or manipulated. Transactions are batched and added to IPFS in bulk, which enables high throughput. And it leads to low costs as well.
Request is built on top of Ethereum, safeguarding security. It ensures that data can't be changed or deleted by governments, third parties, or even by team. In addition, data exists on each node, so it can't just disappear. It's safe from the passage of time and tampering alike.
The Request utility token, referred to as REQ, ensures the performance and stability of the Request network.
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