Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list EDEN and support deposit and withdrawal & Automated Market Making (AMM) on August 27, 2021 (UTC). And its trading pair EDEN/USDT will be available on the same day.
1. Deposit: 03:00 August 27 (UTC)
2. Withdrawal: 03:00 August 27 (UTC)
3. Trading pair: EDEN/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-10:50 August 27, 2021 (UTC)
Orders can be placed and canceled
10:50-11:00 August 27, 2021 (UTC)
Orders can be placed but cannot be canceled
11:00 August 27, 2021 (UTC)
Eden Network is a priority transaction network that protects Ethereum traders from malicious MEV and arbitrary reordering. In technical terms, Eden Network is an optional, non-consensus breaking ordering protocol. The protocol creates a transparent and fair set of rules to order transactions within each block.
Eden Network takes a user-focused approach to the MEV problem, and includes stronger incentives for all stakeholders driven by a protocol token. It comprises a novel transaction ordering mechanism and a private relayer that any user, application, or bot can leverage in order to obtain state guarantees around submitted transactions.
The goals of the Eden Network are:
- Improve earnings for block producers and increase consensus-level security；
- Protect users from malicious MEV (frontrunning, sandwich attacks, etc.) and reduce the negative externalities MEV has on Ethereum；
- Tokenize MEV, and democratize access to it using network token incentives；
EDEN is the unit used to conduct the continuous auction for priority blockspace, and provides users access to Eden 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 27, 2021