Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list PMON and support deposit and withdrawal & Automated Market Making (AMM) on August 30, 2021 (UTC). And its trading pair PMON/USDT will be available on the same day.
1. Deposit: 03:00 August 30 (UTC)
2. Withdrawal: 03:00 August 30 (UTC)
3. Trading pair: PMON/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-10:50 August 30, 2021 (UTC)
Orders can be placed and canceled
10:50-11:00 August 30, 2021 (UTC)
Orders can be placed but cannot be canceled
11:00 August 30, 2021 (UTC)
Polymon are exquisitely animated digital collectibles created using blockchain technology. Each Polymon is backed by a truly unique NFT that is indistinguishable from any other NFT and can be unpacked with $PMON tokens, the native ERC-20 token on the Polymon platform. Each collectible is inimitable, authentic and differs in rarity. The Polymon NFT collection can easily be integrated into modern games, art and other blockchain connected products. Polychain Monsters exist in many shapes and colors, each differing in unique looks and individual rarity. There are also ultra-rare variants waiting for you to discover. Physical collectibles cannot be accessed by modern art and games. However, as digital collectibles backed by non-fungible tokens, Polychain Monsters can easily be integrated into many exciting blockchain connected products.
PMON is the native token of Polychain Monsters, One Booster Pack includes 3 Polychain Monsters and equals 1 $PMON.
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 30, 2021