Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list BOO and support deposit and withdrawal & Automated Market Making (AMM) on Jan 12, 2022 (UTC). And its trading pair BOO/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: BOO/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)
SpookySwap is an automated market-making (AMM) decentralized exchange (DEX) for the Fantom Opera network. Different from other DEXs, we're invested in building a strong foundation with our BOO token as a governance token, diverse farms, a built in bridge, built in limit orders and user-centered service.
Token swaps on SpookySwap are a simple way to trade one token for another via automated liquidity pools. On Spooky, you can trade at market price, or set a specific price for a limit order that can be triggered 24/7!
Adding liquidity allows the contributor to earn 0.2% swapping fees from the pairs they've provided. Users can supply liquidity and start earning fees via adding liquidity here. Liquidity can earn even more rewards (BOOs) if staked at farms!
SpookySwap's bridge supports moving tokens from Ethereum, BSC, Arbitrum, Avalanche, and Polygon to Fantom and vice versa.
SpookySwap's token, BOO, is a governance token and in the future will collect a portion of protocol fees.
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