CoinEx Will List CLY on December 13 – CoinEx Announcements

Dear CoinEx users,

To provide you with more trading options, after rigorous reviews, CoinEx will list CLY and support deposit and withdrawal & Automated Market Making (AMM) on Dec 13, 2021 (UTC). And its trading pair CLY/USDT will be available on the same day.

CLY Services

1. Deposit: 03:00 Dec 13, 2021 (UTC)

2. Withdrawal: 03:00 Dec 13, 2021 (UTC)

3. Trading pair: CLY/USDT

4. Opening method: Call Auction
a. Call Auction
03:00-08:50 Dec 13, 2021 (UTC)
Orders can be placed and canceled
08:50-09:00 Dec 13, 2021 (UTC)
Orders can be placed but cannot be canceled
b. Trading
09:00 Dec 13, 2021 (UTC)

About CLY
Website丨Explorer

Colony is a community-driven avalanche ecosystem accelerator. Colony will deploy capital within Avalanche on early stages projects, provide liquidity to DeFi protocols, maintain an Index on top Avalanche projects, and validate networks through stacking capabilities. The beating heart of Colony will be its Community. Colony’s open governance empowers the Community to allocate capital across the Avalanche ecosystem, for its sole benefit. The true sustenance and value generated by Colony’s investments will be routed back to the Community with features like multiple airdrops, a buyback mechanism and staking rewards.

CLY is the governance token in Colony system, and the funding money will be used:
VALIDATOR PROGRAM: 10% of Colony’s capital will be deployed in AVAX that will be staked. Colony will also contribute to subnets validation if allowed.
EARLY INVESTMENT / PRIVATE PLACEMENT: 50% of Colony’s capital will be deployed to support the best teams and projects building on Avalanche, finance their growth and help them to develop efficiently.
INDEX: 10% of the capital will be deployed in the top 10 projects built on Avalanche ranked by market-capitalization, rebalanced quarterly. Community will be able to vote for projects to join/leave the Index.
LP PROGRAM: 30% of Colony’s capital will be deployed in providing liquidity to protocols built on Avalanche, thus participating actively in the Avalanche ecosystem.

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.

Risk Warning
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

CoinEx Team
Dec 13, 2021

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