Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list BNX and support deposit and withdrawal & Automated Market Making (AMM) on Nov 10, 2021 (UTC). And its trading pair BNX/USDT will be available on the same day.
1. Deposit: 03:00 Nov 10, 2021 (UTC)
2. Withdrawal: 03:00 Nov 10, 2021 (UTC)
3. Trading pairs: BNX/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-10:50 Nov 10, 2021 (UTC)
Orders can be placed and canceled
10:50-11:00 Nov 10, 2021 (UTC)
Orders can be placed but cannot be canceled
11:00 Nov 10, 2021 (UTC)
Cyber Dragon is an online game based on BSC. Players can create characters, challenge copies, and loot rare items. The final challenge is to defeat the ultimate boss, the cyber dragon. The tokens paid by all players will become the assets of the cyber dragon's treasure house. Defeating the dragon will receive the dragon treasure house rewards. The Cyber Dragon will be reborn and become stronger, increase the wealth of the treasure house and wait for the players to challenge again.
Cyber Dragon's governance tokens, BNX token holders can participate in community governance and voting rights on major game decisions. At the same time, holding BNX tokens can also get regular airdrops of gold. Some key operations of the game require consuming BNX tokens, such as creating heroes, forging rare equipment, challenging the Cyber Dragon dungeon and some top dungeons. Ways to get BNX tokens: buying from exchanges, challenging specific dungeons in the game, and participating in other DeFi products of BinaryX. Most of the BNX paid by users in the game will be used to set event rewards and returned to users.
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
Nov 10, 2021