Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list FIS and support deposit and withdrawal & Automated Market Making (AMM) on Oct 9, 2021 (UTC). And its trading pair FIS/USDT will be available on the same day.
1. Deposit: 03:00 Oct 9, 2021 (UTC)
2. Withdrawal: 03:00 Oct 9, 2021 (UTC)
3. Trading pairs: FIS/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-06:50 Oct 9, 2021 (UTC)
Orders can be placed and canceled
06:50-07:00 Oct 9, 2021 (UTC)
Orders can be placed but cannot be canceled
07:00 Oct 9, 2021 (UTC)
Website丨Explorer | Whitepaper
StaFi protocol is a decentralized protocol unlocking liquidity of staked assets.StaFi aims to solve the contradiction between Mainnet security and token liquidity in PoS consensus. The token holders are staking through staking contracts built in StaFi protocol, and then get alternative tokens (rToken ,such as rXTZ, rAtom, rDot, etc.), rTokens are tradable and it can get staking rewards from original chain at the same time.
StaFi is a combined abbreviation of Staking+Finance. It is a decentralized protocol built with the Substrate. The contract layer is composed of multiple staking contracts, and the application layer is mainly trading platform of rTokens.
FIS is the native tokens of Stafi. FIS is involved in 3 scenarios: Gas, Staking and value capture.
-FIS is the fuel of the system. It prevents a large sum of spam popping up in the system. FIS charged will be distributed to validators and Protocol Treasury, and the distribution ratio can be adjusted by concerning parameters.
-Stafi adopts NPoS consensus and uses the underlying motivation design of Polkadot for reference. Based on security design, Stafi tunes up motivation curve in accordance of the Staking ratio of FIS in order to achieve the cyber security and long-term development of the system.
-FIS is a medium for the value capture in Stafi system (mainly provides value for the liquidity of rToken). The Staking Contracts of Stafi not only provides Staking service for Stakers, but also guarantee liquidity. Service fee will be charged by Stafi protocol from users to value to Stafi network.
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
Oct 8, 2021
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