Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list SWEAT and support deposit and withdrawal & Automated Market Making (AMM) on Sep 13, 2022 (UTC). And its trading pair SWEAT/USDT will be available on the same day.
SWEAT Services
1. Deposit: 09:00 Sep 13, 2022 (UTC)
2. Withdrawal: 09:00 Sep 13, 2022 (UTC)
3. Trading pair: SWEAT/USDT
4. Opening method: Call Auction
a. Call Auction
09:00-09:50 Sep 13, 2022 (UTC)
Orders can be placed and canceled
09:50-10:00 Sep 13, 2022 (UTC)
Orders can be placed but cannot be canceled
b. Trading
10:00 Sep 13, 2022 (UTC)
About SWEAT
Sweatcoin is a free app which rewards your daily steps with a new-generation currency you can spend on cool products, donate to charity or convert into SWEAT.
Making crypto accessible to everyone.
The Sweatcoin App converts steps into a new crypto, SWEAT, offering millions easy access to the world of cryptocurrencies.
SWEAT Economy is designed to bring real value to movement.
Already, in Q3 of 2021, partners exchanged $60 million worth of goods and services via the Sweatcoin marketplace for user movement and engagement.
SWEAT will be built on NEAR — after TGE it will be compatible with ERC-20 and NEP-141. SWEAT is minted solely by verified movement.There is an ever decreasing rate of inflation of SWEAT. After TGE, only a user’s first 5,000 steps will mint SWEAT — anything above will create sweatcoins. For now, the movement that mints SWEAT is steps — running and walking.
In time, other forms of movement will mint SWEAT — Movement Validators, such as FitBit or Apple Watch, can stake large sums of SWEAT to offer their users Move to Earn, and receive a 5% fee of the SWEAT they mint for their contribution.
The Sweat DAO: we will decentralize power to the DAO, which will be governed by veSWEAT. This is of vital importance — as revenue generated goes to the DAO, SWEAT holders will be able to vote on key treasury decisions.
The Sweat Wallet App: a place to manage your SWEAT. Future features, such as staking, will be available through the app.
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 Reminder
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
Sep 13, 2022