Dear CoinEx users,
The Paris upgrade has been completed at the ETH mainnet block height of 15537393 at 6:43 on Sep 15, 2022(UTC). So far, the ETH merge has been successfully completed. CoinEx has allocated ETHW to ETH holders at the ratio of 1 : 1 according to the snapshot taken at 6:00 on Sep 15, 2022(UTC), you can view your airdrop in Asset - Spot Account.
CoinEx will list ETHW and support deposit and withdrawal & Automated Market Making (AMM) on Sep 17, 2022 (UTC). And its trading pair ETHW/USDT will be available on the same day.
1. Deposit: 07:00 Sep 17, 2022 (UTC)
2. Withdrawal: 07:00 Sep 17, 2022 (UTC)
3. Trading pair: ETHW/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-07:20 Sep 17, 2022 (UTC)
Orders can be placed and canceled
07:20-07:30 Sep 17, 2022 (UTC)
Orders can be placed but cannot be canceled
07:30 Sep 17, 2022 (UTC)
EthereumPoW is the Original Ethereum Blockchain powered by Proof of Work. EthereumPoW (ETHW), adhering to the original decentralized governance concept of Ethereum, will jointly realize a PoW Ethereum public chain that is fully shared and governed by the community.
Due to the PoS upgrade of Ethereum and the abandonment of the fork of PoW, EthereumPoW (ETHW) will continue to maintain the existing PoW public chain, and on this basis, make the following five commitments:
(1) No premine or inflation. It will be fair and the true continuation of the Ethereum chain.
(2) In the foreseeable future, maintain PoW and the Nakamoto Consensus mechanism, which is the foundation of everything that ever mattered in the Crypto space: A truly robust and inclusive system.
(3) Abolition of EIP-1559. In a truly open and inclusive system/society, there is no justification for punishing one group of participants in favor of another.
(4) We will never idolize leaders. We strive to be an enlightened society.
(5) The network, EthereumPow (to distinguish it from the soon-to-be PoS alternative chain) is to eventually become completely autonomous and self-sustained, devoid of any governance entity. We set the goal to achieve it in 3 years.
If your balance of ETHW is less than the minimum order amount, you can convert your assets into CET via Small Asset Converter.
For more information: please refer to Convert Small Assets into CET.
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
CoinEx reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reason without prior notice.
Sep 17, 2022