When it comes to the crypto market, there are several ways to earn passive income. One of these techniques is through using AMMs. Automated market makers (AMMs) offer a new solution for you to trade tokens while earning benefits for contributing to liquidity pools.

One such notable product on CoinEx is the ME/USDT AMM. In fact, as of December 12, 2024, the ME/USDT AMM APY ranks as the highest available (1562.76%), providing a lucrative chance for you to increase your profits. With that in mind, let’s take a deep dive into AMMs and how you can leverage ME/USDT to increase your passive income in the crypto market.

What Is AMM (Automated Market Makers)?

AMM, Automated Market Maker, is a protocol that automatically determines buying and selling prices using a formula. AMMs effectively use liquidity pools instead of the usual order books, allowing you to deposit pairs of tokens. That way, you get to earn trading fees on transactions performed in the pool and also receive other benefits such as high APYs.

This technology guarantees that token swaps go smoothly and you get to make money as a liquidity provider, making it the perfect choice for anyone looking to make passive income on the blockchain.

ME/USDT AMM: A High-Yield Opportunity

The ME/USDT AMM pool on CoinEx stands out because of its exceptionally high APY, of a whopping 1562.76% as of 12th December 2024 (Check out ME/USDT AMM for a more updated APY%). The ME token, paired with the widely-used USDT stablecoin, ensures a balanced risk-reward profile.

While ME represents a promising cryptocurrency with strong growth potential, USDT provides stability, reducing overall volatility in the pool. As of today, the APY for the ME/USDT AMM pool is significantly higher than most other pools, reflecting the demand for liquidity in this market and the incentives provided by CoinEx to encourage participation.

What is ME?

For you to have a better understanding of ME/USDT and earn from it, you have to go knee-deep into what ME (Magic Eden) is. And for that reason, Magic Eden, popularly known for its token ME, is a crypto that powers the whole Magic Eden ecosystem and gives the holders a form of governance privileges on the network.

ME, in other words, serves as the foundation that serves the Magic Eden NFT marketplace, giving this token a real-life use case outside its price action in the market. As such, this token establishes an integral part of rewards to supporters, incentivizing their actions including the AMM protocol of this coin.

That being said, you can easily use this tokens ME/USDT AMM product, to earn a few extra coin on CoinEx. Here are some of the features and benefits you will be exposed to if you choose to go with CoinEx as your go-to exchange for AMM.

Benefits of CoinEx AMM

Profits from Market Fees: By providing liquidity, you’ll earn 50% of the trading fees in the pool, which will be distributed based on your contribution.
Daily Profit Tracking: Your earnings are calculated hourly and added directly to your AMM account. When you remove liquidity, you can withdraw all cumulative profits at once.
No Entry Barriers: Transfer funds freely between your Spot and AMM accounts with no upper limits or extra fees for injecting liquidity.

How to Get Started with ME/USDT AMM

Sign Up on CoinEx: Create your account if you don’t already have one.
Deposit Tokens: Ensure you have both ME and USDT tokens in your wallet.
Provide Liquidity: Go to the AMM section on CoinEx and select the ME/USDT pool to deposit your tokens.
Earn Rewards: Watch your APY accumulate in real time. You can withdraw your tokens whenever you need liquidity.

ME (Magic Eden) Overview

Name: ME
Official link: https://magiceden.io/
Contract Address: MEFNBXixkEbait3xn9bkm8WsJzXtVsaJEn4c8Sam21u
Explorer: https://solscan.io/token/MEFNBXixkEbait3xn9bkm8WsJzXtVsaJEn4c8Sam21u
Total supply: 1.00B
Twitter: https://x.com/magiceden
Discord: https://discord.com/invite/magiceden
Instagram: https://www.instagram.com/magicedenofficial/
Supported CEX: CoinEx, Binance
Supported DEX: Orca
Convenient for users to know in time: https://www.coinex.com/en/info/ME

PS: The information in this article doesn’t constitute financial advice.

Maximize Your Crypto Earnings with ME/USDT AMM: High APY and Profits Explained