Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list PRIMATE and support deposit and withdrawal & Automated Market Making (AMM) on April 28, 2022 (UTC). And its trading pair PRIMATE/USDT will be available on the same day.
PRIMATE Services
1. Deposit: 03:00 April 28, 2022 (UTC)
2. Withdrawal: 03:00 April 28, 2022 (UTC)
3. Trading pair: PRIMATE/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-04:50 April 28, 2022 (UTC)
Orders can be placed and canceled
04:50-05:00 April 28, 2022 (UTC)
Orders can be placed but cannot be canceled
b. Trading
05:00 April 28, 2022 (UTC)
About PRIMATE
Website丨Explorer｜Whitepaper
PRIMATE is the core of the play-to-earn system being added to Benji Bananas. Players will be able to earn PRIMATE Tokens when playing the game, and these tokens will be swappable for other fungible tokens in the Animoca Brands ecosystem (including SAND, REVV, TOWER, GMEE, QUIDD, PROS, and BONDLY).
The main PRIMATE pairing will be with ApeCoin (APE), the ERC-20 token issued by ApeCoin DAO and used by the ecosystems created by Yuga Labs and the Bored Ape Yacht Club. The depth of the PRIMATE/APE pool is determined by primary purchases of the Benji Bananas Membership Pass.
Like any fungible token, PRIMATE is only part of the Web3 experience. In order to earn PRIMATE, players must obtain a Benji Bananas Membership Pass NFT, which is necessary to use Benji Bananas’ play-to-earn system.
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
April 28, 2022
Follow us Facebook | Twitter | Reddit
Contact us Support | Telegram
About us Website | Announcements | APP