Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list DERC and support deposit and withdrawal & Automated Market Making (AMM) on Jan 13, 2022 (UTC). And its trading pair DERC/USDT will be available on the same day.
1. Deposit: 03:00 Jan 13, 2022 (UTC)
2. Withdrawal: 03:00 Jan 13, 2022 (UTC)
3. Trading pair: DERC/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-08:50 Jan 13, 2022 (UTC)
Orders can be placed and canceled
08:50-09:00 Jan 13, 2022 (UTC)
Orders can be placed but cannot be canceled
09:00 Jan 13, 2022 (UTC)
DeRace is the first decentralized blockchain-based racehorse platform that joins millions of racehorse enthusiasts in a community where you can buy and breed NFT horses, and host races in your owned hippodromes for actual profit.
The gameplay of DeRace is created to be both simple and complex at the same time. The player can participate in a preferred way. The player can play as a: Horse owner or Bookmaker.
In every role, the players can play with a different involvement, offering both active and passive gameplay. The involvement would influence the profit earned. All players earn key benefits with activity earning greater rewards.
DeRace is a platform that simulates real-life horse racing and gives players the ultimate horse racing experience. It contains not only the race itself but also other parts of the industry.
Horse owners can own, breed, and trade horses as well as compete in races. Hippodromes host races and compete against each other to attract participants.
The DeRace Coin (DERC) is both a DeRace platform currency and an independent store of value. Using DeRace Coin (DERC) for in-game transactions allows users to lower costs on transaction fees, keeping them at the bare minimum.External project contributors will receive the DeRace coin as a reward (payment). This will only increase their interest in following and contributing to the success of the project.
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 13, 2022