Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list ELF and support deposit and withdrawal & Automated Market Making (AMM) on Jan 19, 2022 (UTC). And its trading pairs ELF/USDT and ELF/BTC will be available on the same day.
ELF Services
1. Deposit: 03:00 Jan 19, 2022 (UTC)
2. Withdrawal: 03:00 Jan 19, 2022 (UTC)
3. Trading pairs: ELF/USDT, ELF/BTC
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
b. Trading
07:00 Jan 19, 2022 (UTC)
About ELF
Website丨Explorer | Whitepaper
Aelf is a Multi-Chain Parallel Computing Blockchain Framework. aelf focuses on defining and providing the most basic, essential and time-consuming to develop components of the system and on making significant improvements for existing Chains in the market. The system allows developers to customize Chains to meet their own needs, particularly commercial requirements for various industries. It will contain the following main features:
1. Main Chain and multi-layer Side Chains to handle various commercial scenarios. One chain is designed for one use case, distributing different tasks on multiple chains and improving processing efficiency.
2. Communication with external Blockchain systems, such as Bitcoin and Ethereum, via messaging.
3. Parallel processing for non-competing transactions and cloud-based service.
4. Basic components of minimum viable Block and Genesis Smart Contract Collection for each Chain to reduce data complexity and achieve high customization.
5. Permission for stakeholders to approve amendments to the protocol, including redefining the Consensus Protocol.
6. Permission for Side Chains to join or exit from Main Chain dynamically based on Consensus Protocol, and therefore introduce competition and incentive to improve each Side Chain.
ELF is the main token on the aelf platform, used for transaction fees, side-chain index fees, production nodes deposits, voting, and block 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.
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
Follow us Facebook | Twitter | Reddit
Contact us Support | Telegram
About us Website | Announcements | APP