Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list COTI and support deposit and withdrawal & Automated Market Making (AMM) on August 27, 2021 (UTC). And its trading pair COTI/USDT will be available on the same day.
COTI Services
1. Deposit: 07:00 August 27 (UTC)
2. Withdrawal: 07:00 August 27 (UTC)
3. Trading pair: COTI/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-10:50 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
b. Trading
11:00 August 27, 2021 (UTC)
About COTI
Website丨Explorer丨 Whitepaper
COTI (Currency Of The Internet) achieves high transaction throughput and low fees, while being easy to manage and providing decentralised structures for the services users have come to expect from payment platforms, such as dispute resolution. COTI achieves a high transaction throughput by employing a Directed Acyclic Graph (DAG) of transactions known as the Cluster, as opposed to a blockchain. Typically, DAG based cryptocurrencies have been intended for large numbers of low valued transactions, possibly between machines such as IoT devices. Because COTI is designed to support day-to-day transactions between merchants and consumers, new algorithms have been introduced to drive the formation of the Cluster, and the approval of transactions. Fundamental to the new approach is the Trust Score, which is assigned to each user account based on its historical behavior, and which governs the approval of that account’s transactions within the network as well as the amount of any possible fees incurred. COTI introduces a high-performance cryptocurrency built atop the base layer protocol. This cryptocurrency will be used as a common means of payment, including all fees and staking inside the COTI ecosystem.
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.
Risk Warning
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
CoinEx Team
August 27, 2021
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