Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list ELON and support deposit and withdrawal & Automated Market Making (AMM) on Jan 17, 2022 (UTC). And its trading pair ELON/USDT will be available on the same day.
1. Deposit: 07:00 Jan 17, 2022 (UTC)
2. Withdrawal: 07:00 Jan 17, 2022 (UTC)
3. Trading pair: ELON/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-10:50 Jan 17, 2022 (UTC)
Orders can be placed and canceled
10:50-11:00 Jan 17, 2022 (UTC)
Orders can be placed but cannot be canceled
11:00 Jan 17, 2022 (UTC)
Dogelon Mars plays on several popular themes in the meme coin space. Its name is a mixture of Dogecoin and Elon Musk, the billionaire entrepreneur who is an outspoken supporter of Doge. It alludes to Mars, a spin on the famous moon meme, implying that Dogelon will experience a massive upward movement. Dogelon Mars does not have a roadmap, instead developed a fantasy version through its comics. After the re-colonization of Mars in 2420, Dogelon will have to fight for survival against the annihilators. Dogelon explores the greatest mysteries of the galaxy and seeks to recolonize the planet he once called home with the help of the friends he’s made during his travels through the stars. Several short comics are published on the coin’s website that follow Dogelon on his adventures to Mars, where he meets friends and goes on adventures. ELON is an ERC-20 token and a meme coin.
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 17, 2022