Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list CULT and support deposit and withdrawal & Automated Market Making (AMM) on April 29, 2022 (UTC). And its trading pair CULT/USDT will be available on the same day.
1. Deposit: 09:30 April 29, 2022 (UTC)
2. Withdrawal: 09:30 April 29, 2022 (UTC)
3. Trading pair: CULT/USDT
4. Opening method: Call Auction
a. Call Auction
09:30-10:50 April 29, 2022 (UTC)
Orders can be placed and canceled
10:50-11:00 April 29, 2022 (UTC)
Orders can be placed but cannot be canceled
11:00 April 29, 2022 (UTC)
Cult DAO is a Decentralised Autonomous Organization to empower and fund those building and contributing towards our decentralised future. Cult DAO gives funding to those who are ready to break the chains and have an idea that can change our world.
The Guardians are the top 50 token holders, they are tasked with safeguarding which proposals are sent to The Many to be voted upon. Due to their larger weighting and token share, they are not allowed to influence the proposals they bring before the Many, they may champion the proposal as much as they please but only their voice may influence others, not their wealth.
If a proposal has been approved, and the 15.5 CULT ETH value is hit, it will automatically send 13 ETH to the proposal wallet address provided, and 2.5 ETH to a burn wallet.
CULT is the tradable and liquid token of CULT DAO, transacting CULT will contribute to the protocol by filling the DAO treasury slowly, to fund investments into decentralised technologies. This is achieved due to a 0.4% tax on all CULT transactions.
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 29, 2022