Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list HOOK and support deposit and withdrawal & Automated Market Making (AMM) on Dec 2, 2022 (UTC). And its trading pair HOOK/USDT will be available on the same day.
HOOK Services
1. Deposit: 03:00 Dec 2, 2022 (UTC)
2. Withdrawal: 03:00 Dec 2, 2022 (UTC)
3. Trading pair: HOOK/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-03:50 Dec 2, 2022 (UTC)
Orders can be placed and canceled
03:50-04:00 Dec 2, 2022 (UTC)
Orders can be placed but cannot be canceled
b. Trading
04:00 Dec 2, 2022 (UTC)
About HOOK
Hooked Protocol is building the on-ramp layer for massive Web3 adoption, providing tailored Learn and Earn products and onboarding infrastructures for users and businesses to enter the new world of web3.
With our pilot product Wild Cash offering Quiz-to-Earn and other gamified learning experiences, having attracted over 2 million members to the community, Hooked is aiming at forming an engaging ecosystem of community-owned economies by facilitating and optimizing the onboarding flows for all Web3 pathfinders.
Hooked tokenomics adopts a segregation strategy by applying a single token (HOOK) oriented structure supplemented with an in-ecosystem only utility token (HGT - Hooked Gold Token), reflecting real value and enabling common use case functions, to avoid the scenario where pump and dump schemes happen.
(1) HOOK: Governance token that reflects the value of the Hooked protocol ecosystem.
(2) HGT (Hooked Gold Token): The in-ecosystem only utility token with which the community is constantly incentivized and motivated to make dynamic contributions.
(3) uHGT (unlocked Hooked Gold Token):
Token derived from the mechanism for managing the liquidity of HGT, combating speculation risks when a token’s price volatility could bring down reputation and value of the network.
Though HGT itself is non-liquidable, a community-driven and algorithm-adjusting unlocking mechanism of uHGT is applied to ensure a sustainable model.
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 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
Dec 1, 2022