Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list RON and support deposit and withdrawal & Automated Market Making (AMM) on March 21, 2022 (UTC). And its trading pairs RON/USDT and RON/BTC will be available on the same day.
RON Services
1. Deposit: 07:00 March 21, 2022 (UTC)
2. Withdrawal: 07:00 March 21, 2022 (UTC)
3. Trading pairs: RON/USDT, RON/BTC
4. Opening method: Call Auction
a. Call Auction
07:00-09:50 March 21, 2022 (UTC)
Orders can be placed and canceled
09:50-10:00 March 21, 2022 (UTC)
Orders can be placed but cannot be canceled
b. Trading
10:00 March 21, 2022 (UTC)
About RON
Website丨Explorer | Whitepaper
Ronin is an EVM based blockchain, crafted for developers who want to build games with player-owned economies. These ecosystems, due to their combination of community, leisure, and economics, are becoming known as digital nations.
Ronin's main benefits are:
1) Cheap & fast transactions with quick confirmation time (2-3s block time).
2) The ability to withdraw Axie assets back to Ethereum Mainnet using the Ronin bridge.
3) Simplified onboarding for new users with a fiat on-ramp and native wallet.
RON is the ecosystem token of the Ronin blockchain. Its main purpose is to secure and decentralize the network. Ronin will thrive if RON is in the hands of the builders and users of the network.
Holders of RON will be able to stake their RON tokens with a validator to earn RON rewards and participate in governance of the network. Fee structure and use of the RON treasury are potential governance topics.
The maximum supply of RON is 1,000,000,000.
Ronin is currently structured as a POA sidechain. It's an EVM compatible Ethereum fork.
1) Blocks require approval from two thirds of all Validators in order to be approved.
2) Validators are responsible for authoring and validating blocks, updating price oracles, and approving deposits and transfers of assets (ETH, ERC20, and ERC721) to and from Ronin. Validators also control the addition and removal of other validators.
3) Ronin is developed based on Ethereum codebase so you can use a web3 client to connect to Ronin.
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
March 21, 2022
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