Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list CELO and support deposit and withdrawal & Automated Market Making (AMM) on Dec 14, 2021 (UTC). And its trading pairs CELO/USDT and CELO/BTC will be available on the same day.
CELO Services
1. Deposit: 03:00 Dec 14, 2021 (UTC)
2. Withdrawal: 03:00 Dec 14, 2021 (UTC)
3. Trading pairs: CELO/USDT, CELO/BTC
4. Opening method: Call Auction
a. Call Auction
03:00-06:50 Dec 14, 2021 (UTC)
Orders can be placed and canceled
06:50-07:00 Dec 14, 2021 (UTC)
Orders can be placed but cannot be canceled
b. Trading
07:00 Dec 14, 2021 (UTC)
About CELO
Website丨Explorer | Whitepaper
Celo is a mobile-first platform that makes financial dApps and crypto payments accessible to anyone with a mobile phone. The Celo protocol is an open, distributed cryptographic protocol that allows applications to make transactions with and perform computation on a family of cryptocurrencies, including ones pegged to ‘fiat’ currencies like the US Dollar. The Celo Wallet app, the first of an ecosystem of applications, allows end users to manage accounts and make payments securely and simply by taking advantage of the innovations in the Celo protocol.
Highlights include:
1. Stable Value Currencies
Celo includes native support for multiple ERC20-like stable currencies pegged to ‘fiat’ currencies like the US dollar, to facilitate the use of Celo as a means of payment.
2. Immediate Syncing Even on Slow Connections
Extremely fast, secure synchronization between mobile devices and the Celo network means that even wallet users with high latency, low bandwidth, or high cost data tariffs can use Celo. Performance will be further improved with BLS signature aggregation and succinct zero-knowledge proofs, via zk-SNARKs.
3. Proof-of-Stake
Celo uses a proof-of-stake consensus algorithm. In comparison to Proof of Work systems like Bitcoin and Ethereum, this eliminates the negative environmental impact and means that users can make transactions that are cheaper, faster, and where the outcome cannot be changed once complete.
4. Programmable (Full EVM Compatibility)
Celo includes a programmable smart contract platform that is compatible with the Ethereum Virtual Machine, which is already widely adopted, familiar to developers, and has strong tool support. This enables Celo to deliver rich user features and rapidly support a wide ecosystem of third-party applications and extensions.
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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