Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list LYXe and support deposit and withdrawal & Automated Market Making (AMM) on Aug 12, 2022 (UTC). And its trading pair LYXe/USDT will be available on the same day.
LYXe Services
1. Deposit: 07:00 Aug 12, 2022 (UTC)
2. Withdrawal: 07:00 Aug 12, 2022 (UTC)
3. Trading pair: LYXe/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-09:50 Aug 12, 2022 (UTC)
Orders can be placed and canceled
09:50-10:00 Aug 12, 2022 (UTC)
Orders can be placed but cannot be canceled
b. Trading
10:00 Aug 12, 2022 (UTC)
About LYXe
The LUKSO network is purposefully built for the nature of the modern lifestyle industry. It enables the space to drive innovation around the core themes of future creative work. This includes the ways in which creators coordinate their communities and projects, engage with consumers and collaborators, automate their in- interactions, and trust their transactions. It redefines how assets can be managed, collections showcased, and brands experienced. It is the technological playground for creative professionals to shape emerging trends and unleash their creative force.
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 makingUser’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 withdrawnThe 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 requiredAssets 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
Aug 12, 2022