CoinEx’s First MM Mining: Share Mega Reward of 5,000,000 CET!
Faced with the volatile changes in the crypto market and bombarded with a mix of bullish and bearish news, investors across the globe have been on tenterhooks.
Early in May, various animal coins have attracted a large number of new users and ignited investment enthusiasm as never before. Unfortunately, ignorant of cryptocurrencies, some of the investors be stuck in the circle and suffered huge losses.
There has been both bullish and bearish news recently, and nobody can tell how the price curve will be like the next moment or the general trend of the crypto market. As fluctuations continue, those who keep holding positions will eventually survive.
Whether the cryptocurrency will embrace a boom or not remains unclear, and it is such uncertainty that makes for a golden investment opportunity. Just as a saying that goes the early bird catches the worm, early crypto investment with spare money may gain you huge profits in the future. The trend is going on, and chances favor wise and courageous investors.
Among all the possible chances, MM mining is a good way of earning huge profits without any risks.
MM mining is to reward the LP of a trading pair with tokens. The trading pair involves new coins or platform coins in most cases, also known as the “spade coins” among the Chinese, and mainstream coins such as stablecoins and ETH. When the new coins or platform coins stay unchanged relative to the mainstream coins, no loss will be incurred from market making, and you can even gain transaction fees and mining income. In the event that the new coins or platform coins rise against the mainstream coins, by making the market you are automatically selling part of the new coins or platform coins at a high level, and will definitely make a profit through the coin-margined contract.
For ordinary users, the cost arising from mining mistakes far outnumbers the profit, so they need the help of professional institutions such as CoinEx. Apart from avoiding the cost of mistakes, users can enjoy a better experience as such institutions can flexibly help them seize the upward trend. CoinEx’s MM mining not just aims to make profits but, more importantly, get more users involved in the construction of the blockchain community.
With three major features, CoinEx AMM ensures stable profits
CoinEx has rolled out AMM in February 2021 to improve the liquidity of the exchange market. It combines AMM with the order book as the trading mechanism so the system can automatically convert the liquidity pool into an order book.
CoinEx combines AMM with order book and the “constant product market maker formula” algorithm in AMM as a trading platform, which characterized in the firm liquidity provision to the market no matter how large the order book is or how small the liquidity pool is. Most cryptocurrency exchanges have launched AMM trading platforms. Compared with its counterparts, CoinEx AMM has three major advantages:
1.Bonus obtainable from automated market making
LP( Liquidity Provider) would gain 60% of the transaction fee generated in the pool as return in total. The return of a single LP would depend on the proportion of assets he owns in the pool.
2.Share the profit daily, withdraw the interests together
The interests LP(Liquidity Provider) garners from sharing the trading fee would be calculated on a daily basis, and been credited into the market making account before 4:00 (UTC) the next day. When removing the liquidity, the LP would also withdraw all the interests he obtained altogether.
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. and no fees will be charged during the operation.
First Batch of CoinEx MM Mining: Share Mega Reward of 5,000,000 CET
To improve the liquidity on exchange and promote healthy development of CoinEx ecosystem, Automated Market Making (AMM) was supported in Feb, 2021 and received great popularity from users due to better trading experiences. To further encourage users to take part in AMM, CoinEx launches its first batch of 20-day MM Mining promotion, in which users can share Mega Reward of 5,000,000 CET by providing liquidity for CET/USDT pair!
00:00 May 28, 2021–00:00 June 17, 2021 (UTC)
II. Rules of promotion
During the promotion, users can join in mining on the promotion page and provide liquidity for CET/USDT pair to share a Mega Reward of 5,000,000 CET. According to the effective liquidity market value of all participants, the mining reward will be calculated and allocated on an hourly basis.
Promotion entrance: https://www.coinex.com/activity/mining/amm/10
III. Rules of allocation
According to the effective liquidity market value of all participants, the mining reward will be calculated and allocated on an hourly basis.
Hourly reward = Your provided effective liquidity at the time of snapshot / Total liquidity market value of all participants * Hourly yield
* E.g. At the snapshot of 12:00, if the effective liquidity market value provided by User A is 1,000 USD, while the total liquidity market value of all participants at that time is 100,000 USD and the hourly yield is 10,000 CET, then:
Hourly mining reward of User A at 12:00 = 1,000 / 100,000 * 10,000 = 100 CET
The mining reward will be allocated on an hourly basis. You may check your reward amount and allocation history on the promotion page.
After allocation, manual withdrawal is required at the promotion page. You can check your reward in Spot account after withdrawal. Also, the undrawn reward will be systematically transferred to your CoinEx Spot account after the promotion.
4. Mining Guide
Part One: How to participate in MM mining?
Option A. You have never participated in CET/USDT AMM:
Step 1: Get your funds ready. Make sure that you have both CET and USDT assets in your Spot account on CoinEx.
Step 2: Join MM Mining. Click HERE to jump to promotion page and join mining in a click.
Step 3: Provide liquidity. Click “Add” at “Effective liquidity market value” on promotion page, select coin type, enter quantity and click “Add” again.
You’ll be all set for MM Mining in 3 steps above.
Option B. You are already a member in CET/USDT AMM:
Click HERE to jump to promotion page and join mining in a click.
Note: The upper limit of effective liquidity provided per account is 10,000 USD. Your share of reward will still be calculated based on 10,000 USD if you have provided more liquidity than the upper limit.
Part 2. How to add liquidity?
Click “Add” at “Effective liquidity market value” on promotion page, select coin type, enter quantity and click “Add” again.
Note: When adding liquidity, you should provide no less than 200 USD worth of asset per time. The upper limit of effective liquidity provided per account is 10,000 USD. Your share of reward will still be calculated based on 10,000 USD if you have provided more liquidity than the upper limit.
Part 3. How to withdraw liquidity?
Click “Withdraw” at “Effective liquidity market value” on promotion page. You can check your reward in Spot account after withdrawal.
Note: Liquidity cannot be added again or withdrawn in 24 hours after adding liquidity. Your liquidity can only be withdrawn all at once.