Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list NSBT and support deposit and withdrawal & Automated Market Making (AMM) on March 30, 2022 (UTC). And its trading pair NSBT/USDT will be available on the same day.
NSBT Services
1. Deposit: 03:00 March 30, 2022 (UTC)
2. Withdrawal: 03:00 March 30, 2022 (UTC)
3. Trading pair: NSBT/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-06:50 March 30, 2022 (UTC)
Orders can be placed and canceled
06:50-07:00 March 30, 2022 (UTC)
Orders can be placed but cannot be canceled
b. Trading
07:00 March 30, 2022 (UTC)
About NSBT
Website丨Explorer｜Whitepaper
The Neutrino protocol is an algorithmic price-stable assetization protocol that enables the creation of stable coins tied to real-world assets or cryptocurrency. The Neutrino protocol is represented by a set of interacting smart contracts written in the programming language Ride and deployed to the Waves blockchain. Most of the operations with the Neutrino protocol are currently available through the Waves.Exchange interface.
The Neutrino system basically consists of 3 core core tokens: WAVES, USDN and NSBT. WAVES is a core token of the Waves blockchain that is used for paying transaction fees. It serves as a collateral for USDN, the main Neutrino stablecoin. USDN is an algorithmic stablecoin pegged to the US dollar. It serves as a collateral for other Neutrino stable assets.
NSBT is a recapitalization and governance token of the Neutrino protocol that ensures the USDN collateral reserves’ stability. New NSBTs are issued for locking WAVES on the contract, serving as additional backing and insuring the system against deficit. When the value of WAVES tokens in USDN backing goes down, it allows users to speculate on the Backing Ratio (BR) parameter.
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 30, 2022
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