Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list MBOX and support deposit and withdrawal & Automated Market Making (AMM) on August 20, 2021 (UTC). And its trading pair MBOX/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: MBOX/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-06:50 August 20, 2021 (UTC)
Orders can be placed and canceled
06:50-07:00 August 20, 2021 (UTC)
Orders can be placed but cannot be canceled
MOBOX is a community-driven GameFi platform empowering users by rewarding them for their engagement and enjoyment. By using innovative tokenomics ($MBOX allocation), utilizing finance and games. Whilst also combining the best of DeFi and NFTs to create a truly unique and everlasting FREE TO PLAY, PLAY TO EARN ECOSYSTEM.
MOBOX has a revolutionary system that combines the best of DeFi Yield Farming and Gaming NFTs to create what MO MOBOX aims to lower the barrier of entry for traditional gamers and non crypto savvy users. This is also one of the reasons why the MOBOX team created the MOBOX APP from the ground up keeping in mind the user at hand.
The MOBOX Platform can also be accessed via Android and iOS applications to make it even more accessible via mobile as well as desktop devices. BOX calls GameFi, a truly Free to Play and Play to Earn ecosystem on the BSC ecosystem.
The MBOX token is the native utility token that can be farmed through staking of MOMO NFTs and earned through MOBOX platform games. It is also used for processing transactions through the platform. Staking for platform bonuses, incentives players and is also used for governance votes to determine how resources are allocated.
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