Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list PORT and support deposit and withdrawal & Automated Market Making (AMM) on September 28, 2021 (UTC). And its trading pair PORT/USDT will be available on the same day.
1. Deposit: 03:00 Sep 28 (UTC)
2. Withdrawal: 03:00 Sep 28 (UTC)
4. Opening method: Call Auction
a. Call Auction
03:00-10:50 Sep 28, 2021 (UTC)
Orders can be placed and canceled
10:50-11:00 Sep 28, 2021 (UTC)
Orders can be placed but cannot be canceled
Port Finance brings interest rate markets to Solana. It leverages the high speed and low latency of the Solana blockchain with a product suite that includes variable rate lending, fixed rate lending and interest rate swaps. Port Finance will take a three-step approach:
- Provide a baseline lending protocol that is similar to Compound and Aave on Ethereum.
- Provide a fixed rate lending protocol that utilises the Serum order book.
- Provide an interest rate swap market that also utilises the Serum order book.
Port Finance focus will be on leveraging the technological advancements on the Solana blockchain and the Serum ecosystem to bring lending products that are difficult to implement on Ethereum. Port Finance issued its platform token named PORT to enable decentralized community governance and incentivize early stage users. The PORT token accrues value by: 1. Acting as a governance token to decide on the various parameters of the protocols including the maximum loan to value ratio, which assets to support and also liquidation threshold and other changes related to the protocols. 2. Sharing protocol borrowing fees and also flash loan fee once the staking program has been set up.
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 27, 2021