Dear CoinEx users,
To provide more trading options, after rigorous reviews, CoinEx will list POSI at 07:00 on February 25, 2022 (UTC), and launch “POSI Online Bonus: Trade POSI & Hold CET, $8,000 Worth of POSI For Grabs” promotion. The details are as follows.
POSI Services
1. Deposit: 07:00 Feb 25, 2022 (UTC)
2. Withdrawal: 07:00 Feb 25, 2021 (UTC)
3. Trading pair: POSI/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-10:50 Feb 25, 2022 (UTC)
Orders can be placed and canceled
10:50-11:00 Feb 25, 2022 (UTC)
Orders can be placed but cannot be canceled
b. Trading
11:00 Feb 25, 2022 (UTC)
About POSI
Website丨Explorer丨Whitepaper
Position Exchange is a Decentralized Crypto platform with a complete Ecosystem aiming to bridge the gap between people and cryptocurrency and enhance DeFi experience.
The protocol is fully owned & governed by its community and offers a wide range of DeFi products for all kinds of users in an open, transparent and trustless system where everything runs on-chain. The platform is designed to deliver all the advantages of Decentralized Finance whilst bringing the traditional Centralized Finance experience and tools onboard.
Users can Trade Crypto Derivatives, Generate passive income through farming and staking, Invest and borrow, Dive in the NFT world, Participate in Governance and Community activities in a True Decentralized system. Position Exchange with its large Ecosystem and long-term vision is aiming to be the Decentralized Crypto Platform of choice.
Position Exchange is using Pancakeswap router which is an Automated Market Maker (AMM). The team will develop and build the Decentralized Exchange platform in the coming months. The Exchange offers several features that support decentralized trading: Swapping/Trading, Liquidity Pools and Yield Farming.
Position Exchange is empowered by the POSI token, its native utility token serving as the backbone of its Ecosystem. Holders can benefit from multiple advantages and use POSI in other features developed by the Platform. In addition to being a utility token and providing liquidity, holding and trading incentives, POSI token is designed to facilitate and incite the decentralized governance of the protocol.
The details of “POSI Online Bonus: Trade POSI & Hold CET, $8,000 Worth of POSI For Grabs” event are as follows:
Event 1: Learn to Earn 2,500 POSI
1. Duration: 08:00 on Feb 25 - 02:00 on Feb 28, 2022 (UTC)
2. Rules:
| Airdrop Type | Lucky Airdrop |
| Total Reward | 2,500 POSI |
| Single Reward | 2 POSI |
| To Be Rewarded | 1,250 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, 1,250 lucky numbers will be drawn systematically and randomly. Users who win the airdrop will get a 2 POSI 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 2,000 POSI
1. Duration: 11:00 Feb 25, 2022 - 00:00 Mar 4, 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 POSI can participate in the ranking and share 2,000 POSI. The specific reward distribution is as follows：
|
Ranking |
Reward per user（POSI） |
Total reward（POSI） |
|
1 |
140 |
140 |
|
2 |
120 |
120 |
|
3-5 |
80 |
240 |
|
6-10 |
40 |
200 |
|
11-50 |
20 |
800 |
|
51-100 |
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
Feb 24, 2022
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