Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list CVX and support deposit and withdrawal & Automated Market Making (AMM) on September 15, 2021 (UTC). And its trading pair CVX/USDT will be available on the same day.
CVX Services
1. Deposit: 03:00 Sep 15 (UTC)
2. Withdrawal: 03:00 Sep 15 (UTC)
3. Trading pair: CVX/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-10:50 Sep 15, 2021 (UTC)
Orders can be placed and canceled
10:50-11:00 Sep 15, 2021 (UTC)
Orders can be placed but cannot be canceled
b. Trading
11:00 Sep 15, 2021 (UTC)
About CVX
Website丨Explorer
Convex allows Curve.fi liquidity providers to earn trading fees and claim boosted CRV without locking CRV themselves. Liquidity providers can receive boosted CRV and liquidity mining rewards with minimal effort.
If user would like to stake CRV, Convex lets them receive trading fees as well as a share of boosted CRV received by liquidity providers. This allows for a better balance between liquidity providers and CRV stakers as well as better capital efficiency. Convex has no withdrawal fees and minimal performance fees which is used to pay for gas and distributed to CVX stakers. CRV stakers and liquidity providers also receive liquidity mining rewards in the form of CVX.
CVX is the native platform token for Convex Finance. It has the following usages:
1. CVX can be staked on Convex Finance to earn a share of Curve LP's CRV earnings.
2. Staked CVX will receive its portion of the fees as cvxCRV (tokenized veCRV). This is to keep CRV in the system building boost, but users can trade out their cvxCRV through the cvxCRV/CRV liquidity pool.
3. Convex CRV fees that would be returned to CVX stakers are locked in veCRV, and tokenized as cvxCRV and given to the CVX stakers.
4. CVX is used for voting on how Convex Finance allocates it's veCRV towards Curve.fi gauge weight votes. Users must vote-lock their CVX tokens in order to participate.
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 14, 2021
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