Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list MILK and support deposit and withdrawal & Automated Market Making (AMM) on Mar 7, 2022 (UTC). And its trading pair MILK/USDT will be available on the same day.
1. Deposit: 07:00 Mar 7, 2022 (UTC)
2. Withdrawal: 07:00 Mar 7, 2022 (UTC)
3. Trading pair: MILK/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-10:50 Mar 7, 2022 (UTC)
Orders can be placed and canceled
10:50-11:00 Mar 7, 2022 (UTC)
Orders can be placed but cannot be canceled
11:00 Mar 7, 2022 (UTC)
MuesliSwap is a new decentralized exchange (DEX) on the Cardano blockchain that enables users to trade their favorite Cardano tokens. Backed by a newly developed token swapping protocol, MuesliSwap aims to become the go-to DEX on Cardano. MuesliSwap applies the order book model used by traditional stock exchanges to the blockchain, providing crypto traders with features like limit orders.
MuesliSwap distinguishes two types of users, traders and matchmakers. Traders place orders (buy or sell) using the web interface. Upon confirming the trade with a Cardano wallet (such as Nami), the order is locked in a smart contract on the blockchain as a EUTXO. A matchmaker constantly scans the blockchain for open buy and sell orders. When such matching orders are found, the matchmaker executes a transaction, fulfilling the order and sending the assets to the respective parties. For this, the matchmaker charges a small fee. The pending UTXOs are locked in a smart contract, and are unlocked only for a trade that satisfies the trader's demands (limit price, amount). Alternatively, a pending order may be canceled at any time by its creator.
MuesliSwap MILK Token is the official governance and utility token of MuesliSwap on Cardano. The total supply of MILK Token is 10 million (10,000,000) MILK.
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
Mar 7, 2022