Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list GENE and support deposit and withdrawal & Automated Market Making (AMM) on Dec 3, 2021 (UTC). And its trading pair GENE/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: GENE/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)
Genopets is a Free-to-Play, Move-to-Earn NFT mobile game built on Solana that makes it fun and profitable to live an active lifestyle. Genopets applies data tracked by fitness wearables with blockchain-enabled Play-to-Earn mechanics. Building on the foundational Free-to-Play mobile gaming model, Genopets is the first mass market NFT game targeting a global audience beyond crypto-native players. It has designed an economic model that allows users to get started for free in order to bring global attention to what is possible with NFT gaming.
$GENE is a fungible governance and staking token that represents ownership in the Genoverse. As a $GENE token holder, you vote on the future of gameplay and stake your $GENE tokens to earn rewards.
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