Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list SPS and support deposit and withdrawal & Automated Market Making (AMM) on August 31, 2021 (UTC). And its trading pair SPS/USDT will be available on the same day.
1. Deposit: 03:00 August 31 (UTC)
2. Withdrawal: 03:00 August 31 (UTC)
4. Opening method: Call Auction
a. Call Auction
03:00-10:50 August 31, 2021 (UTC)
Orders can be placed and canceled
10:50-11:00 August 31, 2021 (UTC)
Orders can be placed but cannot be canceled
11:00 August 31, 2021 (UTC)
Splinterlands is a digital, collectible card game built on blockchain technology. It is similar in concept to games like Magic the Gathering and Hearthstone where you build up a collection of cards, which all have various different stats and abilities, and use them to battle other players in skill-based matches. By using blockchain technology, players can buy, sell and trade their digital assets freely just as if they were physical cards, and all transactions are recorded publicly and immutably.
SPS is the governance token which will be integrated into the Splinterlands game in order to provide increasing levels of decision-making ability and control over the product to the player-base, asset owners, and other stakeholders. Each staked SPS token will be worth one vote, so the more SPS tokens a player has staked, the more they will be able to influence the results of the votes. Furthermore, anyone will be able to submit a governance proposal for voting provided that they pay a fee in SPS tokens which will be burned.
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