CoinEx removes commissions to market makers

The CoinEx cryptocurrency platform was founded in 2017. It is part of the ViaBTC Group ecosystem, which has a pool for mining, a crypto wallet and a blockchain with its own token. The latter can be used to reduce the amount of commission when trading. Let's tell you about the exchange and its latest news.

General description of the CoinEx crypto exchange

The platform is an exchange on which the spot market operates, as well as perpetual futures contracts. The company was founded with the help of a well—known manufacturer of mining devices - Bitmain.

The cryptocurrency exchange has been operating since 2017. It trades with 258 cryptocurrencies. At the same time, pairs are provided with both stable coins and popular digital assets. Recently, the platform added support for the ruble through a payment service.

The site has its own CET token. It can be used to pay part of the trading commission fees. The platform restrains coin inflation by periodically burning tokens. For example, at the end of winter, it destroyed more than a billion CET. 

No commissions from market makers

The other day it became known that the cryptocurrency platform has updated its Pro Trader Program. As part of it, she decided to lower the threshold for market makers to enter the spot market. As a result, I removed the commission and rebates. This information is taken from the blog of the trading platform.

The changes concern absolutely all market makers, regardless of their level (note that there are 5 of them on the site). At the same time, a user with the L5 status used to have a commission of -0.02%. However, now it will be the same as for all market makers.

The team of employees of the cryptocurrency platform reported that previously the minimum rate for market makers was 0.05% during the conversion of stable coins. Now, the zero rate will be present on almost all the crypto markets of the site.

The new rules establish that in order to be included in the monthly rating, it is necessary to achieve trading volumes worth more than a million dollars. Note that earlier this required a volume of five million dollars.

Cooperation with the NAVI protocol

In early August, the venture department of the cryptocurrency platform invested in a decentralized financial project NAVI. It is a liquidity protocol that is based on Move.

The bottom line is that the protocol offers simple solutions for lending or making loans. Recently it became known that NAVI developers have completed the main financial round to attract investment. It was headed by Mystem labs, an organization that is part of the SUI blockchain.

NAVI Pro has a number of interesting functionality:

  1. Isolation of assets. You can add cryptocurrencies to the list of "isolated" ones. It has a debt limit. At the same time, the mode is suitable exclusively for making loans in stable coins available on NAVI.
  2. Automatic opening of positions with leverage. The loan is taken at a low interest rate to receive increased rewards for mining the collateral coin.
  3. Users can allocate a percentage of their collateral to carry out automatic rebalancing during liquidation.

The crypto exchange was interested in the project. That's why she invested there. However, it is still unknown how much she invested.

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