Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list VEGA and support deposit and withdrawal & Automated Market Making (AMM) on September 7, 2021 (UTC). And its trading pair VEGA/USDT will be available on the same day.
1. Deposit: 03:00 September 7 (UTC)
2. Withdrawal: 03:00 September 7 (UTC)
4. Opening method: Call Auction
a. Call Auction
03:00-10:50 September 7, 2021 (UTC)
Orders can be placed and canceled
10:50-11:00 September 7, 2021 (UTC)
Orders can be placed but cannot be canceled
Vega is a protocol for creating and trading margined financial products on a fully decentrailsed network.
The network, secured with proof-of-stake, will facilitate fully automated, end-to-end margin trading and execution of complex financial products. Anyone will be able to build decentralised markets using the protocol.Built-in liquidity incentives match traders and market makers across any financial product, to solve the problem of attracting and allocating market making resources, especially for long-tail markets.
Vega will connect to major blockchains for collateral, which can be in any digital asset including Bitcoin, ERC20 tokens, and stable coins, so participants will be able to choose from a range of collateral options.
Any participant will be able to easily create and launch markets, pseudonymously, by using a toolkit of product features and economic primitives from which all cash flows and settlement instructions can be easily specified.
It is Vega’s mission to build tools that guarantee the freedom to trade and make that freedom accessible to anyone on earth.
Vega token can be used to create market, staking validators and governing the network and markets.
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 7, 2021