Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list CUBE and support deposit and withdrawal & Automated Market Making (AMM) on Nov 11, 2021 (UTC). And its trading pair CUBE/USDT will be available on the same day.
1. Deposit: 03:00 Nov 11, 2021 (UTC)
2. Withdrawal: 03:00 Nov 11, 2021 (UTC)
3. Trading pair: CUBE/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-10:50 Nov 11, 2021 (UTC)
Orders can be placed and canceled
10:50-11:00 Nov 11, 2021 (UTC)
Orders can be placed but cannot be canceled
11:00 Nov 11, 2021 (UTC)
Somnium Space is an open, social and persistent Virtual Reality World, empowered by blockchain technology where everyone can buy land, build or import objects, use avatars and scripts, easily monetize their experiences and immerse themselves into a completely alternative reality. Somnium Space is available for all the major virtual reality PC VR headsets from Oculus, HTC VIVE, HP, VALVE, all Windows Mixed Reality headsets and other compatible major headsets. It is a VR world first and wants all of its users to get the best Social VR experience that is available. Its native builder has the most features on the Desktop where with its native assets users can build almost anything already now. Its WebXR platform SomniumWEB allows anyone to access each land parcel from any device with a web browser even in VR mode.
Somnium CUBES (CUBE) is an in-game currency based on the Ethereum blockchain (ERC20). Its utilities include all in-world transactions, land purchase/sale on OpenSea.io, renting, e-commerce, etc. There will be continuous development of smart contracts to interact with Cubes to create drag-and-drop payment gateways in the builder, nearly free transactions in-world and very fast transaction speed to create VR-commerce.
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 11, 2021