CoinEx Will List HOP on July 14 – CoinEx Announcement

Dear CoinEx users,

To provide you with more trading options, after rigorous reviews, CoinEx will list HOP and support deposit and withdrawal & Automated Market Making (AMM) on July 14, 2022 (UTC). And its trading pair HOP/USDT will be available on the same day.

HOP Services

1. Deposit: 03:00 July 14, 2022 (UTC)

2. Withdrawal: 03:00 July 14, 2022 (UTC)

3. Trading pair: HOP/USDT

4. Opening method: Call Auction
   a. Call Auction
03:00-06:50 July 14, 2022 (UTC)
  Orders can be placed and canceled
06:50-07:00 July 14, 2022 (UTC)
Orders can be placed but cannot be canceled
  b. Trading
07:00 July 14, 2022 (UTC)

About HOP
Website丨Explorer丨Whitepaper

Hop is a scalable rollup-to-rollup general token bridge. It allows users to send tokens from one rollup to another almost immediately without having to wait for the rollup’s challenge period.

The Hop protocol provides a scalable rollup-to-rollup General Token Bridge using a two-pronged approach: 1. Create a cross-network bridge token that can be quickly and economically moved from rollup to rollup or claimed on layer-1 for its underlying asset. 2. Use Automated Market Makers to swap between each bridge token and its corresponding Canonical Tokens on each rollup in order to dynamically price liquidity and incentivize the rebalancing of liquidity across the network. The combined approach allows users to quickly and trustlessly swap between layer-2 Canonical Tokens using the specialized bridge token as an intermediary asset.

The Hop DAO will govern all relevant parameters of the protocol including: • The networks and tokens that Hop supports • The Bonder whitelist • The distribution of $HOP incentives • Management of the treasury funds There will be an initial supply of 1,000,000,000 HOP 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.

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
July 14, 2022

Articles in this section

Related articles