Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list NFTD and support deposit and withdrawal & Automated Market Making (AMM) on Dec 3, 2021 (UTC). And its trading pair NFTD/USDT will be available on the same day.
1. Deposit: 03:00 Dec 3, 2021 (UTC)
2. Withdrawal: 03:00 Dec 3 2021 (UTC)
3. Trading pair: NFTD/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-08:50 Dec 3, 2021 (UTC)
Orders can be placed and canceled
08:50-09:00 Dec 3, 2021 (UTC)
Orders can be placed but cannot be canceled
09:00 Dec 3, 2021 (UTC)
NFTrade is a cross-chain and blockchain-agnostic NFT platform. It is an aggregator of all NFT marketplaces and host the complete NFT lifecycle, allowing anyone to seamlessly create, buy, sell, swap, farm, and leverage NFTs across different blockchains. Using NFTrade, anyone can gain access to the entirety of their NFT, unlocking the total value of the NFT market.
NFTrade is currently live on four mainnets: Ethereum, Polygon, Binance Smart Chain, and Avalanche, giving users the option to create, buy, sell, swap, and farm NFTs on whichever network they find most optimal. Currently, NFTrade is only available for multi-chain transactions, meaning users can interact on a singular native chain, but soon, users will be able to execute cross-chain transactions. The first step to purchasing a NFT on NFTrade is connecting to the same network as the NFT asset.
NFTrade also supports users swap NFTs in a decentralized and secure environment with an escrow mechanism facilitating swaps between users.
NFTD is the platform token of NFTrade with token Supply 135,000,000. NFTD token holders have three main benefits including governance rights, a discount on platform transaction fees and the ability to stake for exclusive collectible and utility-based NFTs.
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
Dec 3, 2021