Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list GRS and support deposit and withdrawal & Automated Market Making (AMM) on September 17, 2021 (UTC). And its trading pairs GRS/USDT and GRS/BTC will be available on the same day.
1. Deposit: 03:00 Sep 17 (UTC)
2. Withdrawal: 03:00 Sep 17 (UTC)
3. Trading pairs: GRS/USDT, GRS/BTC
4. Opening method: Call Auction
a. Call Auction
03:00-06:50 Sep 17, 2021 (UTC)
Orders can be placed and canceled
06:50-07:00 Sep 17, 2021 (UTC)
Orders can be placed but cannot be canceled
07:00 Sep 17, 2021 (UTC)
Groestlcoin is a latest Tech & Lighting Network with subatomic fees. Groestlcoin (GRS), launched on 22nd of March 2014 with a focus on technological advancement, is SEGWIT ,TAPROOT and Lightning Network ready.
The cryptocurrency operates as open source software on a peer-to-peer model (transactions take place directly between the payer and payee). This means that no trusted intermediary such a banks or PayPal is required to verify the details of the sender and receiver. Rather, the transactions are verified by nodes (the network of computers/users spread globally) and recorded in an open ledger referred as blockchain.
The main idea of creating Groestlcoin was to establish an electronic payment model that was purely based on mathematical proof. This is a system that is independent of influence from centralized authorities, a currency transferable electronically, and instantly at a very small fee.
Groestlcoins are created by miners on its network as a reward for confirming transactions. Only 105 million Groestlcoins (GRS) will ever exist when all the coins are mined.
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
Sep 16, 2021