CoinFLEX, a crypto futures exchange, is the first centralized exchange to launch a hybrid Automated Market Maker called AMM+. CoinFLEX is hosting an ‘AMM+ Arena’ competition where users will be rewarded based on their APR ranking.
The First AMM for the Futures Market
The AMM+ trades directly in CoinFLEX’s perpetual futures market and offers users unique features that dramatically increase users’ capital efficiency. Specifically, users can trade with up to 10x leverage and have the option of choosing from multiple collateral types, meaning you can use BTC to trade an ETH/USD pair.
The AMM+ has also been offering competitive yields. Users who are using the AMM without leverage have seen three-digit APRs. With the added benefit of leverage, users have reported even higher rates.
To promote the launch of the AMM+, CoinFLEX is launching a trading competition called ‘AMM+ Arena’ to increase AMM+ adoption and liquidity.
Elements of the AMM+ Arena
Trading competition prize pool
Users will be able to reference a leaderboard, which shows where you place amongst your peers and the performance ranking of the top 10 AMM users. The prize pool is divided into three tiers, with the highest tier distributing $10,000 USD in rewards. The prizes will be divided amongst the top 10 winners who have achieved the highest 7-day average APR of that week.
The process to enter the competition is extremely easy and only requires a CoinFLEX account. Users can sign up in minutes with email or MetaMask. All you need to do is create an AMM+ position with a minimum of $1,000 USD.
Weekly missions are personal objectives tied to your trading volume targets. You are automatically enrolled into the weekly mission as soon as you set up an eligible AMM+ position. There are three mission tiers; when you reach the corresponding trading volume thresholds, you can claim your rewards.
Limited Edition NFTs
The first 100 eligible AMM+ Arena participants are eligible to claim an Arena NFT. The weekly champion is entitled to claim exclusive NFTs that represent their selected Arena character legend. Each Arena legend will only have five unique editions.
Eligible users will need to provide their email and Ethereum addresses to claim their NFTs. CoinFLEX will then transfer the NFT to the verified Ethereum address, which the holder can view on OpenSea.
Join the CoinFLEX AMM+ Arena now and start earning rewards! https://coinflex.com/amm_arena
Founded in 2019, CoinFLEX is the Home of Crypto Yield and is committed to providing institutional and retail investors an easily accessible platform to earn and trade crypto.
CoinFLEX creates innovative solutions to bring investors and crypto markets together through yield products such as flexUSD, the world’s first interest-earning stablecoin, and AMM+, the most capital-efficient automated market maker in the world. CoinFLEX is backed by crypto heavyweights, including Roger Ver, Mike Komaransky, Polychain Capital, and Dragonfly Capital.
© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.