Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list BEETS and support deposit and withdrawal & Automated Market Making (AMM) on Jan 25, 2022 (UTC). And its trading pair BEETS/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: BEETS/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)
Beethoven X aims to be a one-stop decentralized investment platform on Fantom Opera.
Beethoven X offer novel decentralized investment strategies. Built on Balancer V2, Beethoven X is the first next-generation AMM protocol on Fantom.
Beethoven X provides a Uniswap style trading experience, to allow for trading from one token for another. Behind the scenes, the Smart Order Router (SOR) intelligently sources liquidity from multiple pools so as to automatically figure out the best available price from all available pools.
Weighted investment pools turn the concept of an index fund on its head: instead of paying fees to portfolio managers to rebalance your portfolio, you collect fees from traders, who rebalance your portfolio by following arbitrage opportunities. Each pool can contain up to 8 different tokens, where each token is assigned a weight defining what fraction of the pool is made up by each asset.
For certain assets that are expected to consistently trade at near parity (e.g. different varieties of stablecoins or synthetics), the team utilizes the StableSwap AMM as popularized by Curve. These pools allow for larger trades of these assets before encountering significant price impact.
Protocol fees will distributed to Liquidity Stakers. Provide liquidity in one of the 80/20 BEETS weighted pools to earn your portion of 30% of the protocol fees. Wherever possible, Beethoven will introduce protocol fees for transactions, with 30% of the fees being used to buy BEETS off the open market and redistribute them to Liquidity Stakers. 50% of protocol fees will be used to build a diversified DAO controlled treasury.
The BEETS token is the governance token for the Beethoven X protocol. Additionally, BEETS liquidity stakers will collect a portion of protocol fees in the near future. BEETS has a total maximum supply of 250,000,000.
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