Demex has added five new markets to the margin and derivatives trading platform. The markets are currently only available for spot trading and will offer rewards for each pool to incentivize liquidity.
As of Dec. 18, Demex offers ETH/USDC, WBTC/USDC, CEL/USDC, NEX/USDC, and nNEO/USDC markets.
The NEX/USDC market features the ERC-20 version of the NEX token. Users who wish to participate in this market will need to swap their NEP-5 NEX to ERC-20 tokens in the Nash mobile or web app, or acquire them from other secondary markets such as Uniswap.
With the addition of the new liquidity pools, weighted reward distributions have been altered accordingly:
- ETH 50% / USDC 50%: 6.9% of rewards (2x)
- WBTC 50% / USDC 50%: 6.9% of rewards (2x)
- CEL 50% / USDC 50%: 3.45% of rewards (1x)
- NEX 50% / USDC 50%: 3.45% of rewards (1x)
- nNEO 50% / USDC 50%: 3.45% of rewards (1x)
- SWTH 20% / ETH 80%: 27.59% of rewards (8x)
- SWTH 20% / USDC 80%: 41.38% of rewards (12x)
- WBTC 50% / ETH 50%: 6.9% of rewards (2x)
The new pool reward weightings will go into effect at 11:00 am (UTC) on Dec. 19.
The maker and taker fees have also been updated to make the ETH/WBTC market more competitive, changing to 0.10% taker and -0.05% maker.
At the time of press, Demex has amassed approximately US $2.67 million in liquidity across its eight pools.
Demex is Switcheo’s second exchange. It is designed to serve the needs of derivatives and margin traders that are significantly different from those of existing Switcheo Exchange users.
The full announcement can be found at the link below:
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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