Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list UNFI and support deposit and withdrawal & Automated Market Making (AMM) on Jan 30, 2022 (UTC). And its trading pair UNFI/USDT will be available on the same day.
UNFI Services
1. Deposit: 03:00 Jan 30, 2022 (UTC)
2. Withdrawal: 03:00 Jan 30, 2022 (UTC)
3. Trading pair: UNFI/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-06:50 Jan 30, 2022 (UTC)
Orders can be placed and canceled
06:50-07:00 Jan 30, 2022 (UTC)
Orders can be placed but cannot be canceled
b. Trading
07:00 Jan 30, 2022 (UTC)
About UNFI
Website丨Explorer丨Whitepaper
Unifi Protocol unifies the multi-chain DeFi world through the SEED Bridge. This allows Unifi to be a multi-chain and non-custodial decentralized swap and complete DeFi protocol. Unifi Protocol features incentivized liquidity pooling, a fee sharing governance token, loyalty rewards token, lending platform, and cross-chain swap interoperability. Unifi was developed by Sesameseed, the multi-chain staking community committed to bringing their innovative technology solutions to all their represented blockchains. Unifi Protocol adds value to each blockchain upon which it is deployed, allowing developers to build a range of products and services around the smart contract based building blocks of the protocol. uTrade is a trading platform built utilizing Unifi Protocol and it operates as a decentralized, unlimited liquidity market maker, where one token is exchanged for another, utilizing liquidity provided by incentivized liquidity providers. UNFI Token is the global governance token for the entire multi-chain protocol and the public face of the Unifi Protocol.
UNFI on Ethereum can be staked to earn rewards, are eligible to participate in Protocol governance. UNFI holders also have exclusive access to the shared rewards of the UNFI Super Pairs.
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 30, 2022
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