Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list QRDO and support deposit and withdrawal & Automated Market Making (AMM) on September 2, 2021 (UTC). And its trading pair QRDO/USDT will be available on the same day.
1. Deposit: 03:00 September 2 (UTC)
2. Withdrawal: 03:00 September 2 (UTC)
3. Trading pair: QRDO/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-06:50 September 2, 2021 (UTC)
Orders can be placed and canceled
06:50-07:00 September 2, 2021 (UTC)
Orders can be placed but cannot be canceled
Qredo is a blockchain interoperability, lightning-fast settlement and secure decentralized custody. The Qredo Network consists of two cryptographically linked protocols that work in sync to provide privacy and non-repudiation:
Layer 2 is a decentralized Delegated Proof of Stake (DPoS) blockchain that acts as middleware, enabling decentralized custody and atomic swaps between counterparties exchanging Layer 1 assets (e.g. BTC, ETH).
Layer 3 is an encrypted, decentralized communication network that uses the cryptographic primitives and identity structure from the Layer 2 blockchain as one of the building blocks to provide non-repudiation of messages. The Layer 3 can be used to issue RFQs (Requests for Quotes) to Market Makers, conduct private pre-trade negotiations, or carry Travel Rule information about a particular transaction between regulated Virtual Asset Service Providers (VASPS). Once a transaction is approved on the Layer 3 network by both party’s self-appointed custodians holding governance responsibilities, it is recorded on the Layer 2 blockchain automatically.
QRDO is a utility and governance token for the Qredo Network. It employs a “user-centric” incentive structure that economically favors all network participants to build network effects and drive adoption. As such, the design takes into consideration the incentives required for each participant; including validators, liquidity providers, traders and custody users.
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
September 2, 2021