Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list XDEFI and support deposit and withdrawal & Automated Market Making (AMM) on April 27, 2022 (UTC). And its trading pair XDEFI/USDT will be available on the same day.
1. Deposit: 07:00 April 27, 2022 (UTC)
2. Withdrawal: 07:00 April 27, 2022 (UTC)
3. Trading pair: XDEFI/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-09:50 April 27, 2022 (UTC)
Orders can be placed and canceled
09:50-10:00 April 27, 2022 (UTC)
Orders can be placed but cannot be canceled
10:00 April 27, 2022 (UTC)
XDEFI Wallet is a non-custodial/decentralized wallet. The crypto landscape has experienced significant changes over the past year and has become a multichain enviroment. XDEFI Wallet arleady supports 9 chains and will keep integrating with more to cater for the needs of multichain users.
With XDEFI Wallet users can :
1. Receive, store and send cryptocurrencies;
2. Connect to decentralized applications (dApps) such as decentralized exchanges (DEX) and NFT platforms;
3. Swap cryptocurrencies. Users are able to swap any assets from one ecosystem to another in a seamless and timely manner. By combining THORChain, Astroport , EVM bridges and other solutions, XDEFI Wallet creates the best experience for users to swap assets;
4. Access decentralized finance (DeFi) products;
5. Preview, manage, and soon send & sell NFT's (Non-Fungible Tokens).
Blockchain wallets will be the Instagram of NFTs in a near future. XDEFI Wallet is very close to several NFT communities and will strive to implement the features required to simplify the life of NFT users and enthusiasts. All of this, from a single non-custodial wallet, in which your assets are safely stored and easily accessible. XDEFI token was designed with the help of Delphi Digital. It has four main utilities: staking, governance, building, and play to (l)earn. Token holders will be able to stake their tokens in order to receive rebates, claim rewards and participate in the future governance of the XDEFI Wallet.
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 27, 2022