Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list EVMOS and support deposit and withdrawal & Automated Market Making (AMM) on August 5, 2022 (UTC). And its trading pairs EVMOS/USDT and EVMOS/BTC will be available on the same day.
1. Deposit: 03:00 August 5, 2022 (UTC)
2. Withdrawal: 03:00 August 5, 2022 (UTC)
3. Trading pair: EVMOS/USDT, EVMOS/BTC
4. Opening method: Call Auction
a. Call Auction
03:00-06:50 August 5, 2022 (UTC)
Orders can be placed and canceled
06:50-07:00 August 5, 2022 (UTC)
Orders can be placed but cannot be canceled
07:00 August 5, 2022 (UTC)
Evmos is a scalable, high-throughput Proof-of-Stake blockchain that is fully compatible and interoperable with Ethereum. It's built using the Cosmos SDK which runs on top of Tendermint Core consensus engine.
Evmos allows for running vanilla Ethereum as a Cosmos application-specific blockchain. This allows developers to have all the desired features of Ethereum, while at the same time, benefit from Tendermint’s PoS implementation. Also, because it is built on top of the Cosmos SDK, it will be able to exchange value with the rest of the Cosmos Ecosystem through the Inter Blockchain Communication Protocol (IBC).
Here’s a glance at some of the key features of Evmos:
(1) Web3 and EVM compatibility
(2) High throughput via Tendermint Core(opens new window)
(3) Horizontal scalability via IBC(opens new window)
(4) Fast transaction finality
Evmos enables these key features by:
(1) Implementing Tendermint Core's Application Blockchain Interface (ABCI) to manage the blockchain
(2) Leveraging modules and other mechanisms implemented by the Cosmos SDK.
(3) Utilizing geth as a library to promote code reuse and improve maintainability.
(4) Exposing a fully compatible Web3 JSON-RPC layer for interacting with existing Ethereum clients and tooling (Metamask, Remix, Truffle, etc).
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
August 4, 2022