CoinEx Will List MOVR on November 9 – CoinEx Announcements

Dear CoinEx users,

To provide you with more trading options, after rigorous reviews, CoinEx will list MOVR and support deposit and withdrawal & Automated Market Making (AMM) on Nov 9, 2021 (UTC). And its trading pairs MOVR/USDT and MOVR/BTC will be available on the same day.

MOVR Services

1. Deposit: 03:00 Nov 9, 2021 (UTC)

2. Withdrawal: 03:00 Nov 9, 2021 (UTC)

3. Trading pairs: MOVR/USDT, MOVR/BTC

4. Opening method: Call Auction

a. Call Auction

03:00-06:50 Nov 9, 2021 (UTC)

Orders can be placed and canceled

06:50-07:00 Nov 9, 2021 (UTC)

Orders can be placed but cannot be canceled

b. Trading

07:00 Nov 9, 2021 (UTC)

About MOVR
Website丨Explorer

Moonriver is a companion network to Moonbeam and provides a permanently incentivized canary network. New code ships to Moonriver first, where it can be tested and verified under real economic conditions. Once proven, the same code ships to Moonbeam on Polkadot. Its features include:
(1) Early & Experimental: access and use the latest builds of Moonbeam in a live, incentivized CanaryNet environment that’s connected to the Kusama MainNet.
(2) Community-Led: Community members will own a majority of the MOVR tokens on the network, giving them considerable control over the direction of the network.
(3) Independent Network: While Moonbeam code launches to Moonriver first, the network will continue to live on as a parachain on Kusama, with its own projects and specialized use cases.

MOVR Token is the Utility Token of the Moonriver Network. Some of the uses of the MOVR token on Moonriver include:
(1) Supporting the gas metering of smart contract execution;
(2) Incentivizing collators and powering the mechanics around the creation of a decentralized node infrastructure on which the platform can run;
(3) Facilitating the on-chain governance mechanism including proposing referenda, electing council members, voting, etc;
(4) Paying for transaction fees on the network.

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
Nov 9, 2021

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