Dear CoinEx users,
To provide more trading options, after rigorous reviews, CoinEx will list EXFI at 07:00 on January 27, 2022 (UTC), and launch “EXFI Online Bonus: Trade EXFI & Hold CET, $27,000 Worth of EXFI For Grabs” promotion. The details are as follows.
EXFI Services
1. Deposit: 07:00 Jan 27, 2022 (UTC)
2. Withdrawal: 07:00 Jan 27, 2021 (UTC)
3. Trading pair: EXFI/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-10:50 Jan 27, 2022 (UTC)
Orders can be placed and canceled
10:50-11:00 Jan 27, 2022 (UTC)
Orders can be placed but cannot be canceled
b. Trading
11:00 Jan 27, 2022 (UTC)
Flare Finance is the first institutional-grade decentralized finance platform built on the Flare Network. It offers a suite of decentralized finance products dedicated to bootstrapping the Flare Network with a single suite DeFi solution for business and retail finance products. Flare Finance launched an Experimental Finance (ExFi) platform on the Flare Network’s Canary network Songbird Network.
Flare Finance utilizes Web3 capabilities to allow people to engage with our products and services trustlessly without giving up custody of their funds. The protocol is a compliant decentralized autonomous organization with added KYC and AML regulatory features ensuring a trustable experience. The suite of products is diverse and includes; yield farming, swaps and leverage trading, asset wrapping, peer to peer loans, decentralized mutual funds, and yield mining. It includes FlareX, FlareFarm and FlareLoans. Let’s dive into some of these products.
FlareX：FlareX is the ecosystem's swaps and margin trading platform. It allows traders to swap and leverage various tokens trustlessly in a non-custodial manner. FlareX utilizes immutable smart contracts to provide automated market makers (AMMs) with liquidity.
Liquidity Pools：FlareX liquidity pools require a 50/50 token split meaning the user must provide equal value amounts of both tokens. After providing liquidity, the system mints LP Tokens for the user, which acts as keys to unlock the provided liquidity. Fees are accrued in real time relative to the users pool share as trades occur.
FlareFarm ：FlareFarm allows holder's to participate in non-custodial yield farming and token Launchpads.
EXFI is a fee replacement token, yield farming token, and secondary governance token. It is also the primary currency of the ExFi Ecosystem. It’s primary use case is to replace fees on FlareX, vote new pairs and liquidity pools on FlareX, and also to vote on minor governance proposals in the FlareGovernance System.
The details of “EXFI Online Bonus: Trade EXFI & Hold CET, $27,000 Worth of EXFI For Grabs” event are as follows:
Event 1: Learn to Earn 4,000 EXFI
1. Duration: 08:00 on Jan 27 - 08:00 on Jan 28, 2022 (UTC)
2. Rules:
| Airdrop Type | Lucky Airdrop |
| Total Reward | 4,000 EXFI |
| Single Reward | 2 EXFI |
| To Be Rewarded | 2,000 Participants |
| Requirements |
1. KYC verified accounts (Sub-accounts excluded) |
3. How to participate
(1) Go to the promotion page: Read and study the project introduction carefully.
(2) Claim lucky number: Users who meet the participation requirements and answer all questions correctly can claim a lucky number during the promotion. When the promotion is ended, 2,000 lucky numbers will be drawn systematically and randomly. Users who win the airdrop will get a 2 EXFI airdrop reward.
(3) Allocation: After claiming, your airdrop reward will be systematically frozen in the Spot account for 3 days. Please refer to the promotion page for the specific time.
Click HERE to learn more about CoinEx Airdrop
4. Notes
(1) Sub-accounts are not qualified to participate as independent accounts.
(2) During the event, should any cheating behavior be found, the user will be disqualified.
(3) CoinEx reserves the right of final interpretation of this promotion.
Event 2: Trade to share 4,000 EXFI
1. Duration: 11:00 Jan 27, 2022 - 00:00 Feb 2, 2022 (UTC)
2. Rules: During the promotion period, the transaction volume (buying volume + selling volume) is greater than CoinEx users with 100 USD equivalent of EXFI can participate in the ranking and share 4,000 EXFI. The specific reward distribution is as follows：
|
Ranking |
Reward per user （ EXFI ） |
Total reward （ EXFI ） |
|
1 |
160 |
160 |
|
2 |
120 |
120 |
|
3-5 |
90 |
270 |
|
6-10 |
70 |
350 |
|
11-50 |
40 |
1600 |
|
51-100 |
20 |
1000 |
|
101-150 |
10 |
500 |
3. Allocation: The reward will be allocated in 3 days after the promotion.
4. Rules of Participation
(1) Trading volume = Buying + Selling - Withdrawal. During these events, any operation related to Red Packet feature and Inter-user Transfer will be deemed as withdrawal.
(2) Market Making accounts are not included in this event.
(3) Sub-accounts are not allowed to participate as independent accounts, and the deposit volume of sub-accounts and leveraged accounts are also calculated into main accounts.
(4) During the event, should any cheating behavior be found, the user will be disqualified.
5. Risk Reminder
(1) CoinEx kindly reminds you that cryptocurrencies are innovative investment products with high investment risk due to price fluctuations. Please make sure to have a full understanding of digital assets before investing, rationally judge your investment ability, and make prudent decisions.
(2) CoinEx reserves the right of final interpretation of this promotion.
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 27, 2022
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