Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list LIKE and support deposit and withdrawal & Automated Market Making (AMM) on Oct 25, 2021 (UTC). And its trading pair LIKE/USDT will be available on the same day.
1. Deposit: 03:00 Oct 25, 2021 (UTC)
2. Withdrawal: 03:00 Oct 25, 2021 (UTC)
3. Trading pairs: LIKE/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-10:50 Oct 25, 2021 (UTC)
Orders can be placed and canceled
10:50-11:00 Oct 25, 2021 (UTC)
Orders can be placed but cannot be canceled
11:00 Oct 25, 2021 (UTC)
Only1 is the first NFT-powered social platform built on Solana where users and creators alike can earn tokens by engaging in social activities on the platform, and share passive income generated from the innovative Genesis-NFTs and Content-NFTs similar to the 'Play-to-Earn' model. Since in conventional social media, creators have to go through middle-man to sell merchandise, paid advertisements, shout-outs, or any form of partnerships, the innovation of Only1 through NFT aim to cut out the need for these middle platforms.
Only1 encourages social engagement by providing a means creator as they share content and fans engage with it. Through our Social NFT Platform, creators will be able to earn from engaging with fans, which fans will be able to get more access to their favorite creators by buying their Genesis NFTs. This combination will be the future of how creators choose to interact with their fans.
$LIKE is the Only1 platform’s utility SPL-token with 4 use cases: Social DAO Governance, Marketplace Transactions, Social Features, Initial NFT Offering.
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 25, 2021