Dear CoinEx users,
To provide more trading options, after rigorous reviews, CoinEx will list VITE at 03:00 on August 20, 2021 (UTC), and launch “VITE Online Bonus: Deposit & Buy to Share $25,000 Worth of VITE” event. The details are as follows.
VITE Services
1. Deposit: 03:00 August 20 (UTC)
2. Withdrawal: 00:00 August 24 (UTC)
3. Trading pairs: VITE/USDT, VITE/BTC
4. Opening method: Call Auction
a. Call Auction
03:00-06:50 August 20, 2021 (UTC)
Orders can be placed and canceled
6:50-07:00 August 20, 2021 (UTC)
Orders can be placed but cannot be canceled
b. Trading
07:00 August 20, 2021 (UTC)
About VITE
Website丨Explorer丨 Whitepaper
Vite is a general smart contract development platform, the public chain. Different from the structure of most public chains, Vite uses DAG (directed acyclic graph) ledger organization, using snapshot chain structure, HDPos (hierarchical authorization proof of equity). The consensus mechanism has the characteristics of fast transaction speed, good scalability and more security. The Vite virtual machine is compatible with EVM and uses the asynchronous smart contract development language solidity++. The team believes that in the future, different public chains will meet different needs. Therefore, Vite’s goal is to connect different chains in a decentralized way. The specific function is to allow assets to take advantage of any cross-chain between blockchain networks and participate in multiple blockchains. The chain ecosystem provides users with stable currency exchanges between multiple blockchain networks. When a decentralized exchange (DEX) integrates ViteBridge, it will support all blockchains connected to ViteBridge and implement multiple encryption Currency deposits and withdrawals.
VITE is a public chain token, and quota is the "gas" of the Vite public chain. Users can obtain quota by staking VITE, which can achieve zero transaction fees; vote for SBP and get voting rewards.
The details of “VITE Online Bonus: Deposit & Buy to Share $25,000 Worth of VITE” event are as follows:
Event 1: Deposit to share 80,000 VITE
1. Duration: 03:00 August 20, 2021 - 0:00 August 24, 2021 (UTC)
2. Rules: During the promotion, the rewards will be allocated based on your deposit amount as follows, first come first served.
|
Deposit Coin |
VITE |
|
Total Deposit Reward |
80,000 VITE |
|
Net Deposit 1,000 VITE |
Get 50 VITE |
|
The Upper Limit of Deposit Reward per Account |
500 VITE |
3. Allocation: The reward will be allocated in 3 days after the promotion.
4. Rules of participation:
(1) Net Deposit = Deposit - Withdrawal. During these events, any operation related to Red Packet feature and Inter-user Transfer will be deemed as withdrawal.
(2) Inter-user Transfer volume will not be calculated into Deposit volume.
(3) Market Making accounts are not included in this event.
(4) Sub-accounts are not allowed to participate as independent accounts, and the deposit volume of sub-accounts and leveraged accounts are also calculated into main accounts.
(5) During the event, should any cheating behavior be found, the user will be disqualified.
(6) During Deposit Events, CoinEx has suspended the withdrawal of the new coin and the service will be resumed afterward.
(7) CoinEx reserves all the rights of final explanation for the promotion.
Event 2: Buy to share 200,000 VITE
1. Duration: 7:00 August 20, 2021 - 0:00 August 29, 2021 (UTC)
2. Rules: During the promotion period, users with a net buying volume greater than 1,000 VITE are qualified to participate in the ranking. The top 200 users will share 150,000 VITE, and the remaining users who meet the conditions for participation will share 50,000 VITE.
The specific reward distribution is as follows：
|
Ranking |
Reward per User (VITE) |
Total Reward (VITE) |
|
1 |
12000 |
12000 |
|
2 |
8000 |
8000 |
|
3-5 |
5000 |
15000 |
|
6-10 |
3000 |
15000 |
|
11-50 |
1000 |
40000 |
|
51-100 |
600 |
30000 |
|
101-200 |
300 |
30000 |
4. Rules of participation:
(1) Net Buying= Buying - Selling - Withdrawal. During these events, any operation related to Red Packet feature and Inter-user Transfer will be deemed as withdrawal.
(2) Market Making accounts are not included in this event.
(3) Sub-accounts are not allowed to participate as independent accounts, and the deposit volume of sub-accounts and leveraged accounts are also calculated into main accounts.
(4) During the event, should any cheating behavior be found, the user will be disqualified.
(5) CoinEx reserves all the rights of final explanation for the promotion.
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.
Risk Warning
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
CoinEx Team
August 19, 2021
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