Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list STG and support deposit and withdrawal & Automated Market Making (AMM) on March 31, 2022 (UTC). And its trading pair STG/USDT will be available on the same day.
1. Deposit: 03:00 March 31, 2022 (UTC)
2. Withdrawal: 03:00 March 31, 2022 (UTC)
3. Trading pair: STG/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-06:50 March 31, 2022 (UTC)
Orders can be placed and canceled
06:50-07:00 March 31, 2022 (UTC)
Orders can be placed but cannot be canceled
07:00 March 31, 2022 (UTC)
Stargate is a community-driven organization building the first fully composable native asset bridge, and the first dApp built on LayerZero. Stargate's vision is to make cross-chain liquidity transfer a seamless, single transaction process.
1. DeFi users can swap native assets cross-chain on Stargate within a single transaction. For example, users can swap USDC on Ethereum for USDT on BNB.
2. Applications compose Stargate to create native cross-chain transactions at the application level. For example:
- The DEX can compose Stargate to complete single transaction cross-chain swaps (i.e. swapping AVAX with ETH in a single transaction, all within users' favorite DEX's user interface)；
- The yield aggregator can compose Stargate to deploy assets cross-chain, opening up new APY opportunities.
3. These cross-chain swaps are supported by the community-owned Stargate unified liquidity pools.
Stargate is the first bridge to solve the bridging trilemma. Existing bridges are forced to make trade-offs on the following core bridge features:
1. Instant Guaranteed Finality: Users & Applications can trust that when they successfully commit a transaction on the source chain, it will arrive on the destination chain；
2. Native Assets: Users & Applications swap in native assets as opposed to wrapped assets that require additional swaps to acquire the desired asset and corresponding fees；
3. Unified Liquidity: Shared access of a single liquidity pool across multiple chains creates deeper liquidity for users & applications that trust in the bridge's reliability.
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 31, 2022