Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list GARI and support deposit and withdrawal & Automated Market Making (AMM) on Jan 19, 2022 (UTC). And its trading pair GARI/USDT will be available on the same day.
1. Deposit: 03:00 Jan 19, 2022 (UTC)
2. Withdrawal: 03:00 Jan 19, 2022 (UTC)
3. Trading pair: GARI/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-06:50 Jan 19, 2022 (UTC)
Orders can be placed and canceled
06:50-07:00 Jan 19, 2022 (UTC)
Orders can be placed but cannot be canceled
07:00 Jan 19, 2022 (UTC)
Chingari app is an Indian Short-Video Platform platform that makes ‘dreams come true’ for the young and aspiring global talents. With a combined community of 75M+ and growing, Chingari as an app not only delivers on numbers, but also has been ahead in taking initiatives for the greater good of society as well as its audience under one roof.
In 2020, Chingari disrupted the influencer and video creator economy in India by sharing 30% of revenue earned on the platform with the creators. This was during a time when content creators had limited avenues to make money from their work on other social media platforms.
With GARI, Chingari is further disrupting the creator economy this time, by enabling video creators and digital artists to make money in crypto for creating and sharing their content. In addition, Chingari is also enabling the audience to earn with watch-2-earn, engage-2-earn and play-2-earn features in the Chingari app. GARI acts as both an in-app currency (launching shortly) and a governance token.
GARI token is capped to 1B in total supply. GARI is a social token and governance token for the community of Chingari creators that will give them governance authority over the future platform developments through the Community Reserve and create a circular economy.
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 19, 2022