Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list CRU and support deposit and withdrawal & Automated Market Making (AMM) on August 26, 2021 (UTC). And its trading pair CRU/USDT will be available on the same day.
1. Deposit: 07:00 August 26 (UTC)
2. Withdrawal: 07:00 August 26 (UTC)
3. Trading pair: CRU/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-10:50 August 26, 2021 (UTC)
Orders can be placed and canceled
10:50-11:00 August 26, 2021 (UTC)
Orders can be placed but cannot be canceled
As a decentralized cloud system, Crust serves as a distributed network that is public and open to everyone to participate freely. This system was incubated by the Decentralized Cloud Foundation, and it will eventually be self-governed by the community after the growth period. In this system, whether it is a cloud service provider or demander, or various interested parties who maintain the system, they can freely enter and exit under the premise of following the system agreement. Crust's economic model can maintains the interests of all parties and guarantee the development of the entire Crust system. There are multiple parties in the entire Crust system, and they have different needs. According to the way each role participates, we divide them into validators, candidates, guarantors, and users.
The native token CRU in the Crust network is a utility token representing the value of the entire network. Main functions include: 1. Staking to maintain the GPoS consensus of the Crust network 2. Used to guarantee the selected nodes 3. Serving as collatoral for providing resourse service 4. Serving as a transaction fee for using the network 5. Used to purchase resource services 6. Used for election and voting of on-chain governance mechanism, and vote on proposals.
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 26, 2021