Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list DREP and support deposit and withdrawal & Automated Market Making (AMM) on July 7, 2022 (UTC). And its trading pair DREP/USDT will be available on the same day.
1. Deposit: 07:00 July 7, 2022 (UTC)
2. Withdrawal: 07:00 July 7, 2022 (UTC)
3. Trading pair: DREP/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-09:50 July 7, 2022 (UTC)
Orders can be placed and canceled
09:50-10:00 July 7, 2022 (UTC)
Orders can be placed but cannot be canceled
10:00 July 7, 2022 (UTC)
DREP is committed to building “connectors” and “toolkits” based on blockchain technology, providing solutions that combine ease of use, flexibility and frictionless integration. Based on DREP Chain, DREP ID, DREP Reputation Protocol and DREP SDK, DREP aims to build an open data ecosystem on chain, opening up segregated user groups and data silos across multiple chains.Teams building DApps will be able to easily integrate multiple public-chain versions of DApps, built-in wallets and asset trading platforms with one-click using the DREP Chain, DREP Decentralized ID, DREP software development kit (SDK) and DREP Client. So, DREP strives to tackle three particular issues: Inadequate public chain performance and poor developer experience; Segregated public chain ecosystems and small user bases.
A mismatch between blockchain technology and enterprise needs DREP is a blockchain-based cryptocurrency, A unit of the currency is called a drep. The utility scenarios of DREP tokens in the DREP ecosystem mainly include:
• Network Gas;
• The only means of payment for cross-chain transactions between sub-chains (DApps);
• Payment currency for all data relevant transactions in the network;
• Major currency used for presales of assets in the DREP SDK and the application of Launchpad;
• Mortgage assets in the DREP Client for credit commission and structured financial product transactions.
The only in-game payment method and trading assets in future DREP games. DREP issued a total of 100 million tokens.
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
July 7, 2022