Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list RARE and support deposit and withdrawal & Automated Market Making (AMM) on August 20, 2021 (UTC). And its trading pair RARE/USDT will be available on the same day.
1. Deposit: 03:00 August 20 (UTC)
2. Withdrawal: 03:00 August 20 (UTC)
3. Trading pair: RARE/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-10:50 August 20, 2021 (UTC)
Orders can be placed and canceled
10:50-11:00 August 20, 2021 (UTC)
Orders can be placed but cannot be canceled
SuperRare is a peer-to-peer marketplace for non-fungible tokens (ERC-721 NFTs) built on Ethereum, which is a marketplace to collect and trade unique, single-edition digital artworks. Each artwork is authentically created by an artist in the network, and tokenized as a crypto-collectible digital item that you can own and trade. SuperRare’s mission has always been to empower the next generation of artists through technology, enabling beauty and inspiration for the world to enjoy. And already, many SuperRare artists have risen to become familiar names in the world’s most prestigious galleries and collections. In the near future, SuperRare expects that the next great artistic talent will not be discovered by a gallerist or gatekeeper, but by the community of $RARE curators. The $RARE curation token will be used as the primary vehicle to onboard a growing network of curators, galleries, and collectives - all functioning as SuperRare Spaces: independently curated storefronts on SuperRare. These curation decisions will be enacted using token-based voting with the community’s participation and implementation by the SuperRare Council. SuperRare is expanding to become a multi-contract platform - enabling artists to create custom, bespoke NFT minting contracts through a feature we're calling Sovereign Smart Contracts.
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