Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list LITH and support deposit and withdrawal & Automated Market Making (AMM) on March 30, 2022 (UTC). And its trading pair LITH/USDT will be available on the same day.
LITH Services
1. Deposit: 03:00 March 30, 2022 (UTC)
2. Withdrawal: 03:00 March 30, 2022 (UTC)
3. Trading pair: LITH/USDT
4. Opening method: Call Auction
a. Call Auction
03:00-06:50 March 30, 2022 (UTC)
Orders can be placed and canceled
06:50-07:00 March 30, 2022 (UTC)
Orders can be placed but cannot be canceled
b. Trading
07:00 March 30, 2022 (UTC)
About LITH
Website丨Explorer丨Whitepaper
Lithium Finance’s Pricing Oracle is a collective-intelligence version of platforms like PitchBook and Crunchbase, powered by cryptocurrency incentives which leverage the immutability of Ethereum’s global asset rails for reliable delivery of quality information. In addition, the participating oracles develop a reputation which enhances their earning potential and rewards increasingly accurate information.
Lithium Finance leverages a convergence of multiple growth areas:
1) Globally available asset rails on which any expert anywhere can stake and receive rewards.
2) Immutable blockchains store permanent records of previous transactions for reputation.
3) Experts can come from anywhere with only a smartphone required.
4) Advances in cryptography and information theory that enable sourcing of information with minimal knowledge of its quality, other than the answer itself. i.e. no requirement for expert certification, source verification, etc dramatically reduces cost and opens access. Reputation is additive, not required.
5) The network attracts users by creating market-based incentives to source data for the network and create value：fundamentally addressing information asymmetry in the private markets.
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
March 30, 2022
Follow us Facebook | Twitter | Reddit
Contact us Support | Telegram
About us Website | Announcements | APP