Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list ALCX and support deposit and withdrawal & Automated Market Making (AMM) on Oct 27, 2021 (UTC). And its trading pair ALCX/USDT will be available on the same day.
1. Deposit: 03:00 Oct 27, 2021 (UTC)
2. Withdrawal: 03:00 Oct 27, 2021 (UTC)
3. Trading pairs: ALCX/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-10:50 Oct 27, 2021 (UTC)
Orders can be placed and canceled
10:50-11:00 Oct 27, 2021 (UTC)
Orders can be placed but cannot be canceled
11:00 Oct 27, 2021 (UTC)
Alchemix Finance is a future-yield-backed synthetic asset platform and community DAO. The platform gives you advances on your yield farming via a synthetic token that represents a fungible claim on any underlying collateral in the Alchemix protocol. The DAO will focus on funding projects that will help the Alchemix ecosystem grow, as well as the greater Ethereum community.
It contains four elements:
- Vaults: Vaults act as the hub to generating yield advances, and share many similarities to lending platforms such as MakerDAO and AAVE. The first collateral type that the protocol will accept is DAI.
- Transmuter: The Transmuter allows users to stake their synthetic assets and have them be converted into their base asset over time.
- Token Distribution: The Alchemix governance token (ALCX) will split among the developers, the DAO itself, and the community, with the vast majority going to the community.
- Alchemix DAO: The governance of Alchemix Finance will be managed by a DAO with a liquid governance token, ALCX.
ALCX is a token that grants governance rights in Alchemix DAO. ALCX will not have a hard-cap, but does have a carefully crafted emissions schedule. For the purpose of the token distribution, the team is basing these numbers from the total expected supply after 3 years.
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 26, 2021