Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list ANGLE and support deposit and withdrawal & Automated Market Making (AMM) on Jan 12, 2022 (UTC). And its trading pair ANGLE/USDT will be available on the same day.
1. Deposit: 03:00 Jan 12, 2022 (UTC)
2. Withdrawal: 03:00 Jan 12, 2022 (UTC)
3. Trading pair: ANGLE/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-08:50 Jan 12, 2022 (UTC)
Orders can be placed and canceled
08:50-09:00 Jan 12, 2022 (UTC)
Orders can be placed but cannot be canceled
09:00 Jan 12, 2022 (UTC)
Angle is a over-collateralized, decentralized and capital-efficient stablecoin protocol. Thanks to the liquidity providers it uses, the protocol proposes full convertibility between stable assets and collateral, meaning that it is possible to swap collateral against stable assets, and stable assets against collateral at oracle value. This makes the protocol not only capital efficient but also highly liquid.
Angle Protocol could be used to issue any stablecoin, and will start at launch on mainnet with a stable Euro. Besides creating the first liquid Euro stablecoin, the goal of Angle is to create stablecoins for almost all Forex currencies, including the US Dollar.
The Angle protocol relies on three types of agents which all benefit from Angle to make a stablecoin stable:
Stable Seekers or Users: they can swap collateral against stable assets and conversely swap stable assets against a whitelisted collateral of their choice at oracle value and with no slippage.
Hedging Agents (HAs): they get leveraged positions with the multiple of their choice on a pair collateral/stablecoin in the form of perpetual futures
Standard Liquidity Providers (SLPs): they lend money to the protocol and in return get part of the transaction fees induced by stable seekers minting and burning, as well as part of the returns made from lending some of the protocol reserves to lending protocols (like Compound or Aave).
ANGLE is the governance token of the protocol. It also serves as reward token and reward boosting token.
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
Jan 12, 2022