Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list POKT and support deposit and withdrawal & Automated Market Making (AMM) on June 30, 2022 (UTC). And its trading pairs POKT/USDT and POKT/BTC will be available on the same day.
1. Deposit: 03:00 June 30, 2022 (UTC)
2. Withdrawal: 03:00 June 30, 2022 (UTC)
3. Trading pairs: POKT/USDT, POKT/BTC
4. Opening method: Call Auction
a. Call Auction
03:00-06:50 June 30, 2022 (UTC)
Orders can be placed and canceled
06:50-07:00 June 30, 2022 (UTC)
Orders can be placed but cannot be canceled
07:00 June 30, 2022 (UTC)
Pocket Network runs on a Proof-of-Stake (PoS) consensus mechanism that offers scalability and data consistency for applications.
POKT is the native utility token that is used for：
- Running validator nodes on the network via staking POKT tokens
- Receiving network throughput via staking POKT tokens
- Fees for processing transactions and storing data.
There are multiple ways to connect to Pocket Network as an application ranging from quick and simple to fully customizable:
Pocket Portal provides decentralized endpoints in a matter of a few clicks. Our free tier starts at 1M requests per day for applications.
PocketJS allows developers to integrate the way they want.
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
June 30, 2022