Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list BETA and support deposit and withdrawal & Automated Market Making (AMM) on Oct 9, 2021 (UTC). And its trading pair BETA/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: BETA/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)
Beta Finance is the permissionless money market for borrowing, lending, and shorting crypto assets. This means that anyone at anytime is able to create a money market for any crypto asset.
Beta’s mission is to offset the volatility in DeFi today by developing critical infrastructure and user tooling to facilitate market efficiency. Beta Finance stands by the DeFi ethos of "Open Finance For All" and seeks to re-define finance by providing a foundational block in DeFi that future projects will be built upon.
Beta Finance is a protocol that enables DeFi users to have access to a scalable and accessible money market where tokens can be listed permissionlessly and automatically, as well as to an effective, easy-to-use short selling tool. We encourage users to interact with our protocol and leverage new DeFi strategies that are now possible with an accessible on-chain short-selling solution and permissionless listing. Beta Finance will initially be live on Ethereum Mainnet with plans to scale to additional layer-1 and layer-2 solutions shortly after.
BETA token holders will be able to use BETA token to vote on community proposals that will modify, upgrade, and improve the Beta Finance protocol. In order for any change to be made, there must be a majority vote in terms of number of BETA tokens. Stakers of BETA tokens will also act as a backstop for shortfall events of the protocol, and in exchange will be distributed to BETA token stakers.
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 9, 2021