Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list NIM and support deposit and withdrawal & Automated Market Making (AMM) on Oct 29, 2021 (UTC). And its trading pairs NIM/USDT and NIM/BTC will be available on the same day.
NIM Services
1. Deposit: 03:00 Oct 29, 2021 (UTC)
2. Withdrawal: 03:00 Oct 29, 2021 (UTC)
3. Trading pairs: NIM/USDT and NIM/BTC
4. Opening method: Call Auction
a. Call Auction
03:00-10:50 Oct 29, 2021 (UTC)
Orders can be placed and canceled
10:50-11:00 Oct 29, 2021 (UTC)
Orders can be placed but cannot be canceled
b. Trading
11:00 Oct 29, 2021 (UTC)
About NIM
Website丨Explorer | Whitepaper
Nimiq is a decentralized, censorship-resistant payment protocol native to the web, with its own diverse ecosystem of apps. The cutting-edge, browser-first blockchain approach means that users directly connect to the blockchain with nothing more than a browser. Therefore anyone with an up-to-date browser can join the payment network directly, pay and accept payments without having to install software or rely on unnecessary intermediaries. This gives Nimiq its ‘it just works’ characteristic, which is further strengthened by an ethos of simplicity and ease of use.
While Nimiq itself as a tech-focused project is dedicated to ushering in a new era of independent and censorship-resistant digital cash, the Nimiq Ecosystem aims to bring universal access and the ease of use of NIM to both the tech-savvy and typical Internet users. All efforts are guided by an overarching philanthropic mindset such that as NIM is increasingly adopted, its charity’s ability to support good causes will grow.
NIM is designed to be a cryptocurrency used by the masses. The Nimiq Network has been designed for a total supply of 21 Billion NIM. The native NIM token is transacted within Nimiq as a store and transfer of value: it acts as digital cash.
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
Oct 28, 2021
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