Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list JOE and support deposit and withdrawal & Automated Market Making (AMM) on Dec 14, 2021 (UTC). And its trading pair JOE/USDT will be available on the same day.
JOE Services
1. Deposit: 03:00 Dec 14, 2021 (UTC)
2. Withdrawal: 03:00 Dec 14, 2021 (UTC)
3. Trading pair: JOE/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-08:50 Dec 14, 2021 (UTC)
Orders can be placed and canceled
08:50-09:00 Dec 14, 2021 (UTC)
Orders can be placed but cannot be canceled
b. Trading
09:00 Dec 14, 2021 (UTC)
Trader Joe is your one-stop decentralized trading platform on the Avalanche network.
Trader Joe combines DEX services with DeFi lending to offer leveraged trading.
Features:
Trade Tokens: The exchange is an automated market maker (AMM) that helps users swap between two tokens.
Farm Tokens: Trader Joe helps users to earn JOE tokens by staking their liquidity provider (LP) tokens.
Stake Tokens: Stake your JOE tokens to earn more JOE via protocol fees.
Borrow Tokens: Users will be able to lend and borrow tokens from Trader Joe, to earn yield or increase their trading leverage.
JOE is a governance token that also rewards its holders with a share of exchange revenues. The token distribution follows a fixed supply, decaying emission model.
0.05% of all trades are paid to xJOE staking pool. A share of fees from lending interest and liquidations will also be paid to the xJOE staking pool. The % will be determined at launch of lending product. JOE token holders may stake their JOE to xJOE and receive a share of the revenues.
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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