Dear CoinEx users,
To provide more trading options, after rigorous reviews, CoinEx will list BOBA at 07:00 on December 14, 2021 (UTC), and launch “BOBA Online Bonus: Trade BOBA & Hold CET, $9,000 Worth of BOBA For Grabs” promotion. The details are as follows.
BOBA Services
1. Deposit: 07:00 Dec 14, 2021 (UTC)
2. Withdrawal: 07:00 Dec 14, 2021 (UTC)
3. Trading pairs: BOBA/USDT, BOBA/BTC
4. Opening method: Call Auction
a. Call Auction
07:00-10:50 Dec 14, 2021 (UTC)
Orders can be placed and canceled
10:50-11:00 Dec 14, 2021 (UTC)
Orders can be placed but cannot be canceled
b. Trading
11:00 Dec 14, 2021 (UTC)
About BOBA
Website丨Explorer | Whitepaper
Boba is a Layer 2 Ethereum scaling & augmenting solution built by the Enya team as core contributors to the OMG Foundation. Boba is a next-generation Ethereum Layer 2 Optimistic Rollup scaling solution that reduces gas fees, improves transaction throughput, and extends the capabilities of smart contracts. Boba offers fast exits backed by community-driven liquidity pools, shrinking the Optimistic Rollup exit period from seven days to only a few minutes, while giving LPs incentivized yield farming opportunities.
Boba’s extensible smart contracts will enable developers across the Ethereum ecosystem to build dApps that invoke code executed on web-scale infrastructure such as AWS Lambda, making it possible to use algorithms that are either too expensive or impossible to execute on-chain.
Boba token (BOBA) is a governance token for the Boba DAO, and can also be staked for rewards on Boba Network.
BOBA will be used for governance of the Boba DAO, which will be used for community initiatives and direction for the network’s future. Token holders will be eligible to submit proposals, vote, and delegate votes for proposals on the DAO in accordance with the governance guidelines.
BOBA staked on Boba Network will also receive a portion of the transaction fees earned by the network through an on-chain distribution governed by the community.
The maximum supply of BOBA is 500,000,000. The initial circulating supply of BOBA will be approximately 160M total.
The details of “BOBA Online Bonus: Trade BOBA & Hold CET, $9,000 Worth of BOBA For Grabs” event are as follows:
Event 1: Learn to Earn 1,500 BOBA
1. Duration: 08:00 Dec 14, 2021 - 08:00 Dec 15, 2021 (UTC)
2. Rules
| Airdrop Type | Lucky Airdrop |
| Total Reward | 1,500 BOBA |
| Single Reward | 2 BOBA |
| To Be Rewarded | 750 Participants |
| Requirements |
1. KYC verified accounts (Sub-accounts excluded) |
3. How to participate
(1) Go to the promotion page: Read and study the project introduction carefully.
(2) Claim lucky number: Users who meet the participation requirements and answer all questions correctly can claim a lucky number during the promotion. When the promotion is ended, 750 lucky numbers will be drawn systematically and randomly. Users who win the airdrop will get a 2 BOBA airdrop reward.
(3) Allocation: After claiming, your airdrop reward will be systematically frozen in the Spot account for 3 days. Please refer to the promotion page for the specific time.
Click HERE to learn more about CoinEx Airdrop
4. Notes
(1) Sub-accounts are not qualified to participate as independent accounts.
(2) During the event, should any cheating behavior be found, the user will be disqualified.
(3) CoinEx reserves the right of final interpretation of this promotion.
Event 2: Trade to share 1,500 BOBA
1. Duration: 11:00 Dec 14, 2021 - 00:00 Dec 21, 2021 (UTC)
2. Rules:
During the promotion period, users with a transaction volume (buying volume + selling volume) greater than 100 USD equivalent of BOBA can participate in the ranking and share 1,500 BOBA. The specific reward distribution is as follows:
|
Ranking |
Reward per user（BOBA） |
Total reward |
|
1 |
200 |
200 |
|
2 |
150 |
150 |
|
3-5 |
100 |
300 |
|
6-10 |
50 |
250 |
|
11-50 |
15 |
600 |
3. Allocation: The reward will be allocated in 3 days after the promotion.
4. Rules of Participation
(1) Trading volume = Buying + Selling - Withdrawal. During these events, any operation related to Red Packet feature and Inter-user Transfer will be deemed as withdrawal.
(2) Market Making accounts are not included in this event.
(3) Sub-accounts are not allowed to participate as independent accounts, and the deposit volume of sub-accounts and leveraged accounts are also calculated into main accounts.
(4) During the event, should any cheating behavior be found, the user will be disqualified.
5. Risk Reminder
(1) CoinEx kindly reminds you that cryptocurrencies are innovative investment products with high investment risk due to price fluctuations. Please make sure to have a full understanding of digital assets before investing, rationally judge your investment ability, and make prudent decisions.
(2) CoinEx reserves the right of final interpretation of this promotion.
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 14, 2021
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