Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list SBR and support deposit and withdrawal & Automated Market Making (AMM) on September 30, 2021 (UTC). And its trading pair SBR/USDT will be available on the same day.
1. Deposit: 03:00 Sep 30, 2021 (UTC)
2. Withdrawal: 03:00 Sep 30, 2021 (UTC)
3. Trading pair: SBR/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-10:50 Sep 30, 2021 (UTC)
Orders can be placed and canceled
10:50-11:00 Sep 30, 2021 (UTC)
Orders can be placed but cannot be canceled
Saber is the leading cross-chain stable-coin exchange on Solana. Saber provides the liquidity foundation for stable coins, which is a type of cryptocurrency whose value is pegged to another asset, like the US dollar or bitcoin. Currently, it provides 23 liquidity pools and supports assets including BTC, LUNA, SOL, FTT, BUSD, USDT, USDC, and UST.
As Solana’s core cross-chain liquidity network, Saber helps facilitate the transfer of assets between Solana and other blockchains. Users deposit crypto into a Saber liquidity pool to earn passive yield from transaction fees, token-based incentives, and eventually automated DeFi strategies.
SBR is the governance token of Saber Protocol. It also serves as incentive rewards for users who provide liquidity to pools. There are more usecases of SBR after the discovery and development.
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 29, 2021