Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list NOTE and support deposit and withdrawal & Automated Market Making (AMM) on Jan 19, 2022 (UTC). And its trading pair NOTE/USDT will be available on the same day.
NOTE Services
1. Deposit: 03:00 Jan 19, 2022 (UTC)
2. Withdrawal: 03:00 Jan 19, 2022 (UTC)
3. Trading pair: NOTE/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-08:50 Jan 19, 2022 (UTC)
Orders can be placed and canceled
08:50-09:00 Jan 19, 2022 (UTC)
Orders can be placed but cannot be canceled
b. Trading
09:00 Jan 19, 2022 (UTC)
About NOTE
Website丨Explorer | Whitepaper
Notional is a protocol on Ethereum that facilitates fixed-rate, fixed-term crypto asset lending and borrowing through a novel financial instrument called fCash.
Fixed-rate financing is how financial markets operate. Fixed interest rates provide certainty and minimize risk for market participants, and this is why the majority of U.S. debt is issued using fixed rates. Notional brings fixed interest rates to the decentralized financial system on Ethereum and gives crypto users the same access to stable financing.
Notional was developed and launched in early 2020 by a team of stakeholders with expertise in technology, trading, security, and design.
Notional V2 is governed by NOTE token holders. The Notional Team will provide analysis and parameter recommendations for a short period of time following the launch of the protocol. As the protocol becomes increasingly decentralized, the Notional Team will step back from protocol governance. NOTE is an ERC-20 token that governs the Notional protocol. NOTE holders can propose, vote on, and implement changes to Notional system parameters and smart contracts.
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.
Risk Warning
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
CoinEx Team
Jan 19, 2022
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