Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list MARS and support deposit and withdrawal & Automated Market Making (AMM) on March 29, 2022 (UTC). And its trading pair MARS/USDT will be available on the same day.
1. Deposit: 03:00 March 29, 2022 (UTC)
2. Withdrawal: 03:00 March 29, 2022 (UTC)
3. Trading pair: MARS/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-06:50 March 29, 2022 (UTC)
Orders can be placed and canceled
06:50-07:00 March 29, 2022 (UTC)
Orders can be placed but cannot be canceled
07:00 March 29, 2022 (UTC)
Mars is a credit protocol for the future: non-custodial, open-source, transparent, algorithmic and community-governed.
Like banks, Mars aims to attract deposits and lend out this money while managing illiquidity and insolvency risk. Unlike banks, Mars is a fully automated, on-chain credit facility governed by a decentralised community via a transparent governance process. All decisions are made by the Martian Council, composed of MARS stakers who put skin in the game to backstop certain kinds of protocol risk in exchange for a portion of the protocol borrowing fees. Mars Protocol is being developed by a joint venture among Delphi Labs, IDEO CoLab Ventures and Terraform Labs.
At the heart of Mars is a fully automated, on-chain credit facility built on the Terra blockchain. Like existing credit protocols, interest rates are priced algorithmically based on utilisation rate. Unlike existing credit protocols, Mars will utilise a dynamic interest rate model based on control theory, allowing for greater responsiveness and capital efficiency
MARS is the governance token of the protocol and also used for staking rewards.
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
March 29, 2022