Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list PEOPLE and support deposit and withdrawal & Automated Market Making (AMM) on Dec 23, 2021 (UTC). And its trading pair PEOPLE/USDT will be available on the same day.
1. Deposit: 06:30 Dec 23, 2021 (UTC)
2. Withdrawal: 06:30 Dec 23, 2021 (UTC)
3. Trading pair: PEOPLE/USDT
4. Opening method: Call Auction
a. Call Auction
06:30-08:20 Dec 23, 2021 (UTC)
Orders can be placed and canceled
08:20-08:30 Dec 23, 2021 (UTC)
Orders can be placed but cannot be canceled
08:30 Dec 23, 2021 (UTC)
ConstitutionDAO was a beautiful experiment in a single-purpose DAO.
The community has taken all actions that it was organized to accomplish: they raised capital, they bade a first-edition copy of the U.S. constitution at Sotheby’s, and upon losing, they made full refunds available to the community as promised.
Having lost the auction and following the core team's choice to wind down, the PEOPLE tokens possess no rights, governance, or utility other than redeeming them for ethereum from the smart contract held in Juicebox at a ratio of 1,000,000:1—the same ratio at which contributions were made to the initial crowdfund to buy the Constitution.
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 23, 2021