Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list BBS and support deposit and withdrawal & Automated Market Making (AMM) on Feb 21, 2022 (UTC). And its trading pair BBS/USDT will be available on the same day.
1. Deposit: 03:00 Feb 21, 2022 (UTC)
2. Withdrawal: 03:00 Feb 21, 2022 (UTC)
3. Trading pair: BBS/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-06:50 Feb 21, 2022 (UTC)
Orders can be placed and canceled
06:50-07:00 Feb 21, 2022 (UTC)
Orders can be placed but cannot be canceled
07:00 Feb 21, 2022 (UTC)
The BBS Network is a public network of interconnected message boards. Each and every post is stored as a unique NFT on-chain, and the BBS Network Token can be used to lease its associated ad real-estate (e.g. banners on posts), across the network. BBS tokens can also be staked to govern the network standards and direct the product development. 50% of the BBS tokens will be paid to the BBSes based on the level of their registered user activity. In a sense, BBS can be likened to a “Public Reddit”, distributed across multiple domains to prevent centralized censorship, while maintaining a network-effect and openness for anyone to build upon.
BBS end-users are rewarded based on their contribution, as well as for their legacy social media clout, incentivising the migration of influencers from existing platforms to BBSes. Revenues are distributed automatically to the post publisher, board admin and the NFT’s previous owner - encouraging healthy community-wide alignment of interests between all stakeholders. A pre-launch version of the first BBS is currently being piloted on bbs.market as well as other domains.
The BBS token is the standard payment method accepted by all BBSes in the network for NFT and ad buys, ensuring financial interoperability between the nodes and a shared incentive system. BBS token holders have full control over the project through the BBS DAO such as resource allocation (rewards), product roadmap (features) and BBS tokenomics (issuance and burning).
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
Feb 21, 2022