Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list SFP and support deposit and withdrawal & Automated Market Making (AMM) on September 29, 2021 (UTC). And its trading pair SFP/USDT will be available on the same day.
1. Deposit: 07:00 Sept 29 (UTC)
2. Withdrawal: 07:00 Sept 29 (UTC)
3. Trading pair: SFP/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-10:50 Sept 29, 2021 (UTC)
Orders can be placed and canceled
10:50-11:00 Sept 29, 2021 (UTC)
Orders can be placed but cannot be canceled
11:00 Sept 29, 2021 (UTC)
SafePal is a cryptocurrency wallet that aims to provide a secure and user-friendly crypto asset management platform. SafePal provides hardware wallet and software wallet products managed by the SafePal App, where users can easily store, manage and trade their crypto assets. Now, it provides physical products includes SafePal S1 Hardware Wallet, SafePal Cypher, and SafePal Leather Case.
SafePal supports 20 blockchains, including ETH and Solana. It also supports 10,000+ tokens, including Non-Fungible Tokens (NFTs).
SFP is the governance token of SafePal. It also serves as incentive rewards for users who stake their tokens in the wallet. Holders can use SFP to pay transaction fees and get discount from transaction fees.
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
Sept 28, 2021