Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list WHALE and support deposit and withdrawal & Automated Market Making (AMM) on August 19, 2021 (UTC). And its trading pair WHALE/USDT will be available on the same day.
1. Deposit: 03:00 August 19 (UTC)
2. Withdrawal: 03:00 August 19 (UTC)
3. Trading pair: WHALE/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-10:50 August 19, 2021 (UTC)
Orders can be placed and canceled
10:50-11:00 August 19, 2021 (UTC)
Orders can be placed but cannot be canceled
$WHALE is a social currency that is backed by tangible and rare NFT assets, while embodying scarcity through definitive limited issuance. The launch value of each $WHALE being underpinned by a basket of some of the rarest and most sought after Non-Fungible Tokens (NFTs) in the industry ("the $WHALE Vault"). NFT Assets in the $WHALE Vault include some of the rarest NFTs from Gods Unchained, Rare Digital Art (CryptoArt), Cryptovoxels, Sandbox, Avastars and CryptoMotors (CM), among others.The $WHALE Vault is only one dimension that defines the value of $WHALE as a social currency. More important to the project is the growth of the community, the growth of $WHALE as a brand, and the growth of use cases for $WHALE. All revenues potentially derived from the $WHALE project will be directly reinvested towards accumulating more valuable NFT related assets to drive capital appreciation and community engagement. $WHALE will create a virtuous cycle of appreciation through the curation, expansion and management of its underlying tangible and intangible assets.
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 19, 2021