Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list SOS and support deposit and withdrawal & Automated Market Making (AMM) on Dec 25, 2021 (UTC). And its trading pair SOS/USDT will be available on the same day.
SOS Services
1. Deposit: 09:00 Dec 25, 2021 (UTC)
2. Withdrawal: 09:00 Dec 25, 2021 (UTC)
3. Trading pair: SOS/USDT
4. Opening method: Call Auction
a. Call Auction
9:00-9:50 Dec 25, 2021 (UTC)
Orders can be placed and canceled
9:50-10:00 Dec 25, 2021 (UTC)
Orders can be placed but cannot be canceled
b. Trading
10:00 Dec 25, 2021 (UTC)
OpenDAO is a DAO with govern token SOS. SOS is grateful to all NFT creators, collectors and markets for nurturing the entire NFT ecosystem. Special thanks go to OpenSea for its leadership in promoting NFT trading. To pay tribute, it has chosen OpenSea collectors to conduct its airdrop.
There will be 100 trillion total SOS tokens, and the distribution is as follows:
(1)50% airdrop to OpenSea users;
(2) 20% Staking Incentive;
(3) 20% OpenDAO;
(4)10% LP incentives.
More specifically, 50% of SOS token will be distributed to all addresses that have traded on OpenSea since day 1.The distribution is based on the total number of transactions (30% weight) and transaction volume on ETH, DAI & USDC (70% weight) on OpenSea. Users have until June 30, 2022 to claim their tokens, after which any remaining tokens will be sent to the DAO treasury.
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 25, 2021
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