Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list SPIRIT and support deposit and withdrawal & Automated Market Making (AMM) on Jan 25, 2022 (UTC). And its trading pair SPIRIT/USDT will be available on the same day.
1. Deposit: 03:00 Jan 25, 2022 (UTC)
2. Withdrawal: 03:00 Jan 25, 2022 (UTC)
3. Trading pair: SPIRIT/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-08:50 Jan 25, 2022 (UTC)
Orders can be placed and canceled
08:50-09:00 Jan 25, 2022 (UTC)
Orders can be placed but cannot be canceled
09:00 Jan 25, 2022 (UTC)
SpiritSwap is a decentralized exchange (DEX) on the Fantom Opera Chain. SpiritSwap's design is based on the Uniswap constant-product automated market maker (AMM). In an AMM, liquidity providers simply deposit a pair of tokens and an algorithm automatically makes markets for the token pair. Traders can easily swap between tokens in the AMM and get guaranteed rates for the swaps. Each swap on SpiritSwap incurs a fee, which gets distributed to liquidity providers as their payment for work.
SPIRIT functions as the economic incentives which will be distributed to encourage users to exert efforts towards contribution and participation in the ecosystem on SpiritSwap, thereby creating a mutually beneficial system where every participant is fairly compensated for its efforts. SPIRIT is an integral and indispensable part of SpiritSwap, because without SPIRIT, there would be no incentive for users to expend resources to participate in activities or provide services for the benefit of the entire ecosystem on SpiritSwap. Given that additional SPIRIT will be awarded to a user based only on its actual usage, activity and efforts made on SpiritSwap and/or proportionate to the frequency and volume of transactions, users of SpiritSwap and/or holders of SPIRIT which did not actively participate will not receive any SPIRIT incentives. SPIRIT will pre-dominantly be issued to incentivise provision of liquidity
Total Supply: 1,000,000,000 SPIRIT
- Farm: 81.82%
- DAO: 8.18%
- Development: 7.50%
- Airdrop: 2.5%
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 25, 2022