Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list SCREAM and support deposit and withdrawal & Automated Market Making (AMM) on Jan 25, 2022 (UTC). And its trading pair SCREAM/USDT will be available on the same day.
SCREAM Services
1. Deposit: 03:00 Jan 25, 2022 (UTC)
2. Withdrawal: 03:00 Jan 25, 2022 (UTC)
3. Trading pair: SCREAM/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
b. Trading
09:00 Jan 25, 2022 (UTC)
SCREAM is a lending protocol built on Fantom, for Fantom. SCREAM provides peer-to-peer lending solutions that are fully decentralized, transparent and non-custodial. SCREAM aims to build high-velocity markets for more traditional crypto-asset lending services, but with the goal of improving overall capital-efficiency across a wider range of Fantom-based assets.
Similar to (and based-from) existing lending platforms like Compound Finance, Aave and C.R.E.A.M. Finance, users will be able to lend any supported assets on SCREAME money markets, and use their capital as collateral to borrow supported assets.
SCREAM aims to offer one of the highest liquidity platforms on Fantom. By offering money markets with the highest liquidity at launch, and aligning its incentives strategies with these markets, the Team believes users can obtain the highest value from its inception. SCREAM will introduce additional money markets, including stablecoins (e.g. FUSD); DeFi tokens (e.g. YFI, SUSHI, CRV, SNX); LP-tokens, and other major markets.
The SCREAM token will have a total max supply of 2 million.
The Team has been able to create the distribution model for the SCREAM token. 31% of the total supply will be allocated to Treasury funds for future development opportunities in the SCREAM ecosystem.
SCREAM tokens are used to incentivize lending and for that reason, the Team has decided to allocate half of the total supply to lending/borrowing 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 25, 2022
Follow us Facebook | Twitter | Reddit
Contact us Support | Telegram
About us Website | Announcements | APP