Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list PORTO and support deposit and withdrawal & Automated Market Making (AMM) on Nov 17, 2021 (UTC). And its trading pair PORTO/USDT will be available on the same day.
1. Deposit: 03:00 Nov 17, 2021 (UTC)
2. Withdrawal: 03:00 Nov 17, 2021 (UTC)
3. Trading pair: PORTO/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-06:50 Nov 17, 2021 (UTC)
Orders can be placed and canceled
06:50-07:00 Nov 17, 2021 (UTC)
Orders can be placed but cannot be canceled
07:00 Nov 17, 2021 (UTC)
The FC Porto Fan Token is a BEP-20 utility token designed to revolutionize the fan experience for all FC Porto supporters. The token empowers FC Porto fans to participate in team voting polls, hunt digital collectibles, purchase NFTs, and enjoy gamification features that are tied with fan rewards or great experiences.
PORTO is the official Binance Fan Token for FC Porto and is used in the following functions:
Engagement: PORTO token holders have the right to participate in the fan engagement-related voting sessions on the Binance Fan Token platform.
Loyalty Subscription: PORTO token holders will be able to use PORTO tokens to subscribe for fan rewards, digital collectibles, loyalty points, and more.
E-commerce: PORTO token can be incorporated into FC Porto’s e-commerce ecosystem and be used for merchandise, matchday tickets, memberships, and more by leveraging Binance Pay.
Benefits: PORTO token holders can get once-in-a-lifetime benefits by engaging with FC Porto on the Binance Fan Token Platform, including signed merchandise, meet-and-greet with a football player or legend and other experiences.
Gamification: PORTO token holders will be able to access multiple gamification features on the Binance Fan Token Platform.
Donation: PORTO token holders will be able to donate directly to their beloved team and get a proof-of-loyalty badge.
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 17, 2021