Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list ROOK and support deposit and withdrawal & Automated Market Making (AMM) on Nov 2, 2021 (UTC). And its trading pair ROOK/USDT will be available on the same day.
ROOK Services
1. Deposit: 03:00 Nov 2, 2021 (UTC)
2. Withdrawal: 03:00 Nov 2, 2021 (UTC)
3. Trading pair: ROOK/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-10:50 Nov 2, 2021 (UTC)
Orders can be placed and canceled
10:50-11:00 Nov 2, 2021 (UTC)
Orders can be placed but cannot be canceled
b. Trading
11:00 Nov 2, 2021 (UTC)
About ROOK
Website丨Explorer | Whitepaper
KeeperDAO is a decentralised and coordinated Keeper commonwealth making the Ethereum network more egalitarian, profitable, and secure for all the actors involved.
Keepers are bots that observe Ethereum, and other general-purpose blockchains, to facilitate all sorts of transactions, such as arbitrage, liquidations, system upkeep, and auctions. Keepers have quickly become necessary actors in the Ethereum ecosystem as risk off-loaders. The introduction of these actors has created a complex situation, as they were never accounted for in Ethereum’s incentive structure. Currently, Keepers compete with each other in a zero-sum game, and, as a result, Ethereum has transformed into a highly adversarial environment where Keepers and miners fight to claim on-chain profits at the expense of DeFi users and protocols.
Inside the KeeperDAO walls, however, Keepers no longer compete with each other - instead, they work together to coordinate and capture the on-chain profits efficiently. DeFi users, protocols, and market makers can bring their activity to KeeperDAO and gain a portion of the profit as a reward. By using specialized on-chain contracts to hide the profit extracting opportunities, KeeperDAO realigns the incentives of network actors to encourage coordination instead of competition. The goal here is to strike the best benefit for all.
ROOK is an ERC-20 asset and the governance token of KeeperDAO.
ROOK allows token holders to create new proposals and vote on them. Beside governance, ROOK is used as an incentive to administer profit to Keepers, liquidity providers, and the Hiding Game users.
ROOK also will have fundamental utility within the Coordination Game, as well as potentially in future iterations and technologies built within the KeeperDAO ecosystem.
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
Nov 2, 2021
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