Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list SUKU and support deposit and withdrawal & Automated Market Making (AMM) on Nov 23, 2021 (UTC). And its trading pair SUKU/USDT will be available on the same day.
1. Deposit: 03:00 Nov 23, 2021 (UTC)
2. Withdrawal: 03:00 Nov 23, 2021 (UTC)
3. Trading pair: SUKU/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-10:50 Nov 23, 2021 (UTC)
Orders can be placed and canceled
10:50-11:00 Nov 23, 2021 (UTC)
Orders can be placed but cannot be canceled
11:00 Nov 23, 2021 (UTC)
SUKU is a blockchain-based ecosystem that aims to make supply chains more transparent, efficient, and accessible by offering a supply-chain-as-a-service platform that connects businesses and consumers.
The SUKU Ecosystem plans to use an on-demand, open software distribution model, consisting of applications and services that are utilized by SUKU Trading Partners and built with SUKU Technology Partners. The SUKU Ecosystem intends to connect Trading Partners (buyers and sellers) and Technology Partners in a distributed ecosystem, enabling business networks to expand and benefit from supply chain technology, all while providing additional benefits to the end consumer.
The SUKU Ecosystem is made up of four primary components, described below:
1. SUKU Platform: Capabilities, services, and features that allow Trading Partners to transactamongst each other and to utilize applications built by Technology Partners
2. SUKU Token: An ERC20-compatible token that is used by Trading Partners andTechnology Partners within the SUKU Ecosystem
3. Trading Partners: SUKU Platform users who interact and transact on the platform assupply chain participants
4. Technology Partners: Organizations or individual developers who create applications orprovide services on top of the SUKU Core Layer for users, such as Trading Partners
The SUKU Ecosystem uses an ERC20-compatible token called the SUKU Token. Both Trading Partners and Technology Partners use the token within the SUKU Ecosystem. The SUKU Token has the following platform uses:
1. Governance: SUKU Tokens enable the right to vote. For example, one of the votingopportunities could be voting on proposals to improve the SUKU Core Layer
2. Transaction Fees: For specific transactions where the SUKU Core Layer is used
3. Rewards / Incentives: SUKU Tokens reward users of the platform. For example, afteronboarding onto the SUKU Platform, the user receives a SUKU Token reward to seed theirwallet with SUKU Tokens to interact on the SUKU Platform
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 23, 2021