Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list TON and support deposit and withdrawal & Automated Market Making (AMM) on April 15, 2022 (UTC). And its trading pairs TON/USDT and TON/BTC will be available on the same day.
1. Deposit: 03:00 April 15, 2022 (UTC)
2. Withdrawal: 03:00 April 15, 2022 (UTC)
3. Trading pairs: TON/USDT, TON/BTC
4. Opening method: Call Auction
a. Call Auction
03:00-06:50 April 15, 2022 (UTC)
Orders can be placed and canceled
06:50-07:00 April 15, 2022 (UTC)
Orders can be placed but cannot be canceled
07:00 April 15, 2022 (UTC)
The Open Network (TON) is a fast, secure and scalable blockchain and network project, capable of handling millions of transactions per second if necessary, and both user-friendly and service provider-friendly. The network aims for it to be able to host all reasonable applications currently proposed and conceived. One might think about TON as a huge distributed supercomputer or rather a huge_x0010_superserver intended to host and provide a variety of services.
TON is a fully decentralized layer-1 blockchain designed by Telegram to onboard billions of users. It boasts ultra-fast transactions, tiny fees, easy-to-use apps, and is environmentally friendly. It is scalable and shareable. Its flexible architecture lets it grow and grow, with no loss of performance.
TON token is native token of the network. It is used for transaction fees, securing the blockchain through staking, deciding how the network develops, and settling payments.
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
April 15, 2022