Dear CoinEx users,
To provide more trading options, after rigorous reviews, CoinEx will list KIN at 03:00 on September 10, 2021 (UTC), and launch “KIN Online Bonus: Deposit, Trade & Stake to Share $15,000 Worth of KIN” event. The details are as follows.
KIN Services
1. Deposit: 03:00 Sep 10 (UTC)
2. Withdrawal: 00:00 Sep 14 (UTC)
3. Trading pairs: KIN/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-06:50 Sep 10, 2021 (UTC)
Orders can be placed and canceled
6:50-07:00 Sep 10, 2021 (UTC)
Orders can be placed but cannot be canceled
b. Trading
07:00 Sep 10, 2021 (UTC)
About KIN
Website丨Explorer丨 Whitepaper
Kin is money for the digital world. It is used to generate value through a shared, decentralized cryptocurrency in a digital ecosystem of apps and their users. The Kin blockchain is built to scale for mass usage and supports an Ecosystem-wide digital economy where app developers and mainstream consumers make millions of micro-transactions.
App developers anywhere can seamlessly integrate the Kin SDK into their platform and become active partners in the Ecosystem’s growth. When developers join the Kin Ecosystem, they benefit from the Kin Rewards Engine (KRE). The KRE incentivizes app developers to create engaging user experiences and pays them when users spend Kin within their apps.
Kin gives app developers, content creators, and users a new way to earn real value from their contributions to the shared digital space. With Kin, people earn and spend by being active in the Ecosystem. Everyone in the Ecosystem contributes to building a fairer digital world where people work together to succeed together.
Kin has a fixed supply of 10 trillion tokens. 60 percent of it is allocated to the Kin Foundation, while about 10 percent of it was distributed in 2017.
The details of “KIN Online Bonus: Deposit, Trade & Stake to Share $15,000 Worth of KIN” event are as follows:
Event 1: Deposit to share 20,000,000 KIN
1. Duration: 03:00 Sep 10, 2021 - 0:00 Sep 14, 2021 (UTC)
2. Rules: During the promotion, the rewards will be allocated based on your deposit amount as follows, first come first served.
|
Deposit Coin |
KIN |
|
Total Deposit Reward |
20,000,000 KIN |
|
Net Deposit 1,000,000 KIN |
Get 50,000 KIN |
|
The Upper Limit of Deposit Reward per Account |
500,000 KIN |
3. Allocation: The reward will be allocated in 3 days after the promotion.
4. Rules of participation:
(1) Net Deposit = Deposit - Withdrawal. During these events, any operation related to Red Packet feature and Inter-user Transfer will be deemed as withdrawal.
(2) Inter-user Transfer volume will not be calculated into Deposit volume.
(3) Market Making accounts are not included in this event.
(4) Sub-accounts are not allowed to participate as independent accounts, and the deposit volume of sub-accounts and leveraged accounts are also calculated into main accounts.
(5) During the event, should any cheating behavior be found, the user will be disqualified.
(6) During Deposit Events, CoinEx has suspended the withdrawal of the new coin and the service will be resumed afterward.
(7) CoinEx reserves all the rights of final explanation for the promotion.
Event 2: Trade to share 60,000,000 KIN
1. Duration: 7:00 Sep 10, 2021 - 00:00 Sep 23, 2021 (UTC)
2. Rules: During the promotion period, users with transaction volume (buying volume + selling volume) greater than 100 USD equivalent of KIN are qualified to participate in the ranking and share 60,000,000 KIN. The specific reward distribution is as follows：
|
Ranking |
Reward per User (KIN) |
Total Reward (KIN) |
|
1 |
7,000,000 |
7,000,000 |
|
2 |
5,500,000 |
5,500,000 |
|
3-5 |
2,500,000 |
7,500,000 |
|
6-10 |
1,000,000 |
5,000,000 |
|
11-50 |
500,000 |
20,000,000 |
|
51-100 |
300,000 |
15,000,000 |
4. Rules of participation:
(1) Trading volume = Buying + Selling - Withdrawal. During these events, any operation related to Red Packet feature and Inter-user Transfer will be deemed as withdrawal.
(2) Inter-user Transfer volume will not be calculated into Deposit volume.
(3) Market Making accounts are not included in this event.
(4) Sub-accounts are not allowed to participate as an independent account, and the deposit volume of sub-accounts and leveraged accounts are also calculated into main accounts.
(5) During the event, should any cheating behavior be found, the user will be disqualified.
(6) CoinEx reserves all the rights of final explanation for the promotion.
Event 3: Lock & stake CET to mine 50,000,000 KIN
1. Promotion duration
00:00 Sep 11, 2021 - 00:00 Sep 16, 2021 (UTC)
2.Promotion rules
During the promotion, users who stake CET on the promotion page can share 50,000,000 KIN rewards. All participants can share hourly yields according to their shares of locked staking.
|
Lock & Stake |
CET |
|
Yield |
KIN |
|
Total yield during promotion |
50,000,000 KIN |
|
Hourly yield during promotion |
416,666.67 KIN |
|
Min. staked asset per time |
1,000 CET |
|
Max. staked asset per user |
100,000 CET |
|
Upper limit of total staked asset |
Unlimited |
|
Requirement |
KYC verified (Sub-accounts are not included) |
3. Yield rules
(1) Yield calculation
During the promotion, you can lock and stake CET to share KIN as rewards. Hourly snapshots will be taken on locked staking assets and all participants can share hourly yields according to their shares of locked staking.
Hourly mining yields = Your locked staking assets / Total locked staking assets * Hourly yields
Example: According to the snapshot result of 12:00, the locked staking asset of User A is 1,000 CET, while the total locked staking CET at the time is 100,000, and the hourly yield is 10,000 KIN, therefore:
Hourly yield (12:00) of User A = 1,000 / 100,000 * 10,000 = 100 KIN
(2) Yield allocation
Yields will be allocated to your account on an hourly basis. Please check amount and history on the promotion homepage.
(3) Yield withdrawal
After allocation, the yields are only available for manual withdrawal on promotion homepage. You can check the details in spot account. After the promotion, all mining yields will be automatically transferred to users’ spot account.
4.Mining instructions
(1) Lock and stake
Step 1: Buy CET and be ready for mining
Step 2: Click HERE to go to the promotion homepage
Step 3: Click “Stake”, enter CET amount and confirm
You’ll be all set for stake mining after these procedures with ZERO risks of principal loss.
(2) Yield withdrawal
Click “Withdraw yield” on promotion homepage to withdraw yield to your spot account right away.
(3) Staking withdrawal
Click “Withdraw” on promotion homepage to unlock and withdraw CET to your spot account. The withdrawn asset will be frozen in 24 hours. After the promotion, all staked CET will be unlocked in 24 hours automatically.
5. CoinEx reserves all the rights of final explanation for the promotion.
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
Sep 10, 2021
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