Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list SDN and support deposit and withdrawal & Automated Market Making (AMM) on Dec 7, 2021 (UTC). And its trading pairs SDN/USDT and SDN/BTC will be available on the same day.
1. Deposit: 03:00 Dec 7, 2021 (UTC)
2. Withdrawal: 03:00 Dec 7, 2021 (UTC)
3. Trading pairs: SDN/USDT, SDN/BTC
4. Opening method: Call Auction
a. Call Auction
03:00-08:50 Dec 7, 2021 (UTC)
Orders can be placed and canceled
08:50-09:00 Dec 7, 2021 (UTC)
Orders can be placed but cannot be canceled
09:00 Dec 7, 2021 (UTC)
Shiden Network is a multi-chain decentralized application layer on Kusama Network. Astar Network (previously known as Plasm) is a dApp hub on Polkadot that supports Ethereum, WebAssembly, and layer 2 solutions like ZK Rollups. Astar aims to be a multi-chain smart contract platform that will support multiple blockchains and virtual machines. Shiden Network is a sister network of Astar Network and a dApp hub on Kusama. Basically, Astar and Shiden share the same code base. As a canary network that acts as an R&D chain of Astar Network, Shiden Network aims to test Parachain Auction, lockup and Ethereum Bridge.
Kusama Relaychain does not support smart contract functionality by design. Kusama Network needs a smart contract layer. This is where Shiden Network comes in. Shiden supports Ethereum Virtual Machine, WebAssembly, and Layer2 solutions from day one. The platform supports various applications like DeFi, NFTs and more. Besides, Shiden is building bridges to various blockchains, such as Ethereum, Secret Network, Cosmos and so on.
SDN is the native token of Shiden Network. The initial token supply of SDN is 70 million with 10% inflation every year. SDN Token is the utility token for Shiden Network that has the following 5 roles: dApps Staking, NPoS Staking, Transactions, On-Chain Governance and Layer2. SDN token holders can stake their tokens on favorite dApps so that both nominators and the dApps developer can earn SDN tokens.
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 7, 2021
Follow us Facebook | Twitter | Reddit
Contact us Support | Telegram
About us Website | Announcements | APP