Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list STRP and support deposit and withdrawal & Automated Market Making (AMM) on Jan 18, 2022 (UTC). And its trading pair STRP/USDT will be available on the same day.
1. Deposit: 03:00 Jan 18, 2022 (UTC)
2. Withdrawal: 03:00 Jan 18, 2022 (UTC)
3. Trading pair: STRP/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-08:50 Jan 18, 2022 (UTC)
Orders can be placed and canceled
08:50-09:00 Jan 18, 2022 (UTC)
Orders can be placed but cannot be canceled
09:00 Jan 18, 2022 (UTC)
Strips Finance is the world's first decentralized interest rate derivatives trading platform. Interest rate swaps (IRS) allow participants to swap variable interest rates for fixed interest rates. The IRS market is one of the most important pillars of finance. There are currently no great options to trade interest rates in decentralized finance, and Strips Finance aims to solve this problem by building the first natively decentralized interest rate derivatives exchange on Ethereum. Strips Finance will grow to be the premier marketplace for fixed income.
Strips Finance‘s exchange allows for the trading of interest rate swaps derivatives, allowing users to swap variable interest rates for fixed rates in any yield farm or funding rate. Strips Finance offers leverage, 24/7 liquidity and the best yield farms to trade. Strips Finance aims to be the foundation infrastructure layer for future decentralised finance fixed-rate products.
STRP is the native utility token that is used for:
- Providing liquidity in the AMM
- Used for governance votes
- Collecting rewards
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 18, 2022