Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list SLC and support deposit and withdrawal & Automated Market Making (AMM) on Jan 13, 2022 (UTC). And its trading pair SLC/USDT will be available on the same day.
1. Deposit: 07:00 Jan 13, 2022 (UTC)
2. Withdrawal: 07:00 Jan 13, 2022 (UTC)
3. Trading pair: SLC/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-10:50 Jan 13, 2022 (UTC)
Orders can be placed and canceled
10:50-11:00 Jan 13, 2022 (UTC)
Orders can be placed but cannot be canceled
11:00 Jan 13, 2022 (UTC)
Solice is a VR Metaverse built on the Solana blockchain. The Solice metaverse supports multiple platforms which remove the barrier of different hardware, software, and operating systems. This enables more users to invite and connect with their friends & family to enhance possibilities in the exponential growth of the user base.
The Solice metaverse consists of a decentralized ledger for ownership within the virtual world, this could be a piece of land or any other assets such as clothing apparel, and pets. All involve a protocol for describing the content of each land parcel or asset and a peer-to-peer network for user interactions. Solice is not just a game, it’s a second life on the blockchain.The market is far beyond just the gaming or blockchain communities, which can get easily onboarded from regular platforms.
The main cryptocurrency behind the Solice metaverse is SLC. SLC will be pivotal in performing various marketplace transactions for NFT trades or asset creations.
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