Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list HBB and support deposit and withdrawal & Automated Market Making (AMM) on Jan 30, 2022 (UTC). And its trading pair HBB/USDT will be available on the same day.
1. Deposit: 03:00 Jan 30, 2022 (UTC)
2. Withdrawal: 03:00 Jan 30, 2022 (UTC)
3. Trading pair: HBB/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
07:00 Jan 30, 2022 (UTC)
Hubble is a decentralized finance (DeFi) protocol built on Solana. Hubble will offer multiple DeFi services as the protocol and DeFi continue to mature and expand.
Hubble begins its DeFi journey in Phase 1 with a focus on borrowing and minting USDH. Users can deposit multiple kinds of crypto assets like SOL, BTC, ETH, and others to borrow up to 90.9% LTV in USDH. While borrowing, users can earn yield on their deposits.These borrows are guaranteed through a Stability Pool of USDH deposits made by Stability Pool providers who pay off bad loans and earn the ~10% difference in liquidated assets. In addition, users who deposit USDH in the Stability Pool earn HBB, Hubble's governance token.
All in all, Hubble has the following features:
1. Mint USDH, a 100% decentralized stablecoin on Solana.
2. Deposit multi-asset collateral (SOL, BTC, ETH, etc.).
3. Zero-interest borrowing.
4. Borrow 90.9% LTV.
5. Yield interest on deposits while borrowing.
6. Democratized liquidations through Stability Pool.
HBB, Hubble's governance token, can be staked on Hubble to earn rewards from the protocol. In the future, HBB will be used to vote on improvement proposals as Hubble DAO's governance token.
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 30, 2022