CoinEx Will List FIDA on September 30 – CoinEx Announcements

Dear CoinEx users,

To provide you with more trading options, after rigorous reviews, CoinEx will list FIDA and support deposit and withdrawal & Automated Market Making (AMM) on September 30, 2021 (UTC). And its trading pair FIDA/USDT will be available on the same day.

FIDA Services

1. Deposit: 07:00 Sep 30, 2021 (UTC)

2. Withdrawal: 07:00 Sep 30, 2021 (UTC)

3. Trading pair: FIDA/USDT

4. Opening method: Call Auction

a. Call Auction

07:00-10:50 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

b. Trading

11:00 Sep 30, 2021 (UTC)

About FIDA
Website丨Explorer | Whitepaper

Bonfida is the full product suite that bridges the gap between Serum, Solana and the user. It is the flagship Serum GUI and bring first of its kind Solana data analytics to the field. Building on Solana，Bonfida aims to showcase what can be done on the strong performing blockchain out there. Its ever growing ecosystem of products encompasses all facets of the blockchain experience, which include:

Name services: decentralized naming service built on Solana;
Perpetuals: first perpetual swaps on Solana;
Token vesting: first SPL token vesting contract to be audited;
Bots: build trading strategies on Serum with native TradingView integration;
Buy & Burn: decentralized and permissionless buy and burn.

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 30, 2021

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