Dear CoinEx users,
To provide more trading options, after rigorous reviews, CoinEx will list EQX at 07:00 on Nov 3, 2021 (UTC), and launch “Deposit &Trade EQX to share $17,000 Worth of EQX” event. The details are as follows.
1. Deposit: 07:00 Nov 3, 2021 (UTC)
2. Withdrawal: 00:00 Nov 7, 2021 (UTC)
3. Trading pair: EQX/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-10:50 Nov 3, 2021 (UTC)
Orders can be placed and canceled
10:50-07:00 Nov 3, 2021 (UTC)
Orders can be placed but cannot be canceled
11:00 Nov 3, 2021 (UTC)
EQIFi builds a global DeFi gateway for customers, delivering lot of products and services and simplifying the complex world of DeFi. EQIFi is on a mission to become the gateway for everyone to the DeFi industry. Through blockchain technology, EQIFi has the opportunity to democratize financial products previously available to only the privileged few.
EQIFi’s infrastructure is optimized for real-time digital interactions. We are at the forefront, embracing today’s ever-demanding culture of instant access for the evolution of digital banking and finance technologies.
EQIFI’s vision is to expand the options of digital asset owners, who today have only limited options for secure custody and banking level access to their digital assets. EQIFI creates a next generation user experience with a high level, secure, yet convenient, user friendly DeFi platform. The EQIFI platform is quick and easy to use providing unprecedented access to newest financial products and services.
EQIFI is accessible by all and solves complex issues and with simple solutions bringing you fast, easy and safe access to all the exciting new DeFi products you want to learn about and use.
EQX is the native token of EQIFI,it has numerous benefits to users on the platform.
Governance Voting,Staking Rewards,Bonus APY,Priority Bank Accounts,Reduced Fees,Higher limits of products.
The details of “Deposit &Trade EQX to share $17,000 Worth of EQX” event are as follows:
Event 1: Deposit to share 20,000 EQX
1. Duration: 07:00 on Nov 3 – 00:00 on Nov 7, 2021 (UTC)
2. Rules: During the promotion, the rewards will be allocated based on your deposit amount as follows, first come first served.
|Total Deposit Reward||20,000 EQX|
|Net Deposit 300 EQX||Get 20 EQX|
|The Upper Limit of Deposit Reward per Account||200 EQX|
3.Allocation:The reward will be allocated in 3 days after the promotion.
4. Rules of participation:
(1) Net Deposit = Deposit – Withdrawal. During these events, any operation related to Red Packet feature and Inter-user Transfer will be deemed as withdrawal.
(2) Inter-user Transfer volume will not be calculated into Deposit volume.
(3) Market Making accounts are not included in this event.
(4) Sub-accounts are not allowed to participate as independent accounts, and the deposit volume of sub-accounts and leveraged accounts are also calculated into main accounts.
(5) During the event, should any cheating behavior be found, the user will be disqualified.
(6) During Deposit Events, CoinEx has suspended the withdrawal of the new coin and the service will be resumed afterward.
(7) CoinEx reserves all the rights of final explanation for the promotion.
Event 2: Trade to share 30,000 EQX
1. Duration: 07:00 Nov 3, 2021 – 00:00 Nov 10, 2021 (UTC)
During the promotion period, the transaction volume (buying volume + selling volume) is greater than CoinEx users with 100USD equivalent of EQX can participate in the ranking and share 30,000 EQX. The specific reward distribution is as follows：
|Ranking||Reward per user（EQX）||Total reward（EQX）|
3. Allocation:The reward will be allocated in 3 days after the promotion.
4. Rules of Participation
(1) Trading volume = Buying + Selling – Withdrawal. During these events, any operation related to Red Packet feature and Inter-user Transfer will be deemed as withdrawal.
(2) Market Making accounts are not included in this event.
(3) Sub-accounts are not allowed to participate as an independent account, and the deposit volume of sub-accounts and leveraged accounts are also calculated into main accounts.
(4) During the event, should any cheating behavior be found, the user will be disqualified.
(5) CoinEx reserves all the rights of final explanation for the promotion.
(1) CoinEx kindly reminds you that cryptocurrencies are innovative investment products with high investment risk due to price fluctuations. Please make sure to have a full understanding of digital assets before investing, rationally judge your investment ability, and make prudent decisions.
(2) CoinEx reserves the right of final interpretation of this announcement.
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