Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list SIS and support deposit and withdrawal & Automated Market Making (AMM) on Dec 24, 2021 (UTC). And its trading pair SIS/USDT will be available on the same day.
1. Deposit: 03:00 Dec 24, 2021 (UTC)
2. Withdrawal: 03:00 Dec 24, 2021 (UTC)
3. Trading pair: SIS/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-06:50 Dec 24, 2021 (UTC)
Orders can be placed and canceled
06:50-07:00 Dec 24, 2021 (UTC)
Orders can be placed but cannot be canceled
07:00 Dec 24, 2021 (UTC)
Symbiosis is a decentralized multi-chain liquidity protocol. It allows users to swap assets between all the blockchains while remaining the sole owners of the funds.
The Symbiosis protocol meets the following requirements:
1. Simple, Uniswap like UX
No additional wallets, long waiting time, or extra steps to proceed with a swap.
2. Fully decentralized
No central party can stop the Symbiosis protocol or censor users from accessing it.
It connects every blockchain that gets enough market attention. Our ultimate goal is to bridge together all networks.
No one (including the Symbiosis team) has access to user funds.
5. Limitless cross-chain liquidity
It targets as many token pairs as possible across all blockchains while providing the best prices for swaps between any arbitrary token pair.
SIS is the protocol token of Symbiosis. It is deployed on Ethereum and used for:
1. Staking to run a node in the relayers' network.
2. Governing the Symbiosis DAO and DAO Treasure.
Symbiosis’s vision is that users need a simple solution for moving their liquidity across multi chains; current solutions like bridges create liquidity
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 24, 2021