Dear CoinEx users:
Issued in January 2018, CoinEx Token (CET) is a value-added services & privileges scheme based on CoinEx’s business ecosystem. The token is issued on Ethereum ERC 20 protocol and will be launched on a public CoinEx Chain in the future. The total CET supply is fixed at 10 billion. CET represents exclusive services and privileges of CoinEx's products and can be used in diversified scenarios.
Since its release, CET has been issued and circulated via airdrop incentives, transaction fee discounts, promotions, and team unlocking etc; Meanwhile, according to the applications of CET, CoinEx has repurchased and burnt a total amount of 112 million CET by Apr 1, 2019. What’s more, we burned the rest of the unissued 4 billion CET heldCoinEx Team on Jan 31st, 2019 and have continuously repurchased extra CET from secondary market. So far, the total supply of CET is 5.888 billion (Est. value of 120 million USD), including 2.888 billion circulating CET (Est. value of 60 million USD) and 3 billion unissued CET.
About CET: https://www.coinex.com/token
For the healthy development of CoinEx ecosystem and wider usage of CET within the ecosystem, CoinEx will make the following adjustments in allocation of the unissued CET to make the most of CET’s value in CoinEx ecosystem.
The info of circulating CET will be fully disclosed in this announcement as well as the release schedule and usage of the unissued CET.
|30.57%||1.8 Billion||Not yet released - held by CoinEx Team; Used for Team building and market expansion, and to be unlocked over 5 years, 20% per year|
|20.38%||1.2 Billion||Not yet released - held by CoinEx Foundation; Used for the development of CoinEx Chain and ecosystem construction, and to be unlocked based on future needs|
|49.05%||2.888 Billion||In circulation, including initially unlocked CET from Team, airdrop incentives via multiple forms, transaction fee giveaway etc|
Releasing plan of Team-held CET
Releasing plan of CoinEx Foundation-held CET
|50%||600 Million||CoinEx Chain development incentives, to be released according to future needs|
|50%||600 Million||CoinEx Chain ecosystem construction, to be released according to future needs|
Applications of CET
1. Long-term repurchase plan
CoinEx will buy back and "burn" CET with 50% of its quarterly profits from transaction fees at the end of each quarter. When the circulating supply of CET reduces to 3 BILLION, CoinEx will suspend the plan of CET repurchase and burning.
2. Deducted as trading fees
CET can be deducted directly with the same market value as trading fees at the following dedicated discounts:
|Year||2019||2020||2021||2022||2023 and later|
3. VIP services and privileges
Users with a certain amount of CET holdings will become VIP or can use CET to buy VIP membership and the privileges therein such as fee discount, withdrawal acceleration, exclusive customer service etc.
4. Promotional campaign qualifications
CET holders will enjoy special qualifications for promotional campaigns on CoinEx, for instance token airdrop incentives, Accelerator support etc
5. Preinstalled token on CoinEx Chain
CoinEx will launch CoinEx Chain and and a CoinEx Chain-based decentralized exchange - CoinEx DEX using CET as its preinstalled token to pay for “gas”. Every single operation by users on CoinEx Chain will consume a certain amount of CET, and users can used CET to invest in or trade other coin/token assets.
6. More privileges on the way
Aside from circulating within CoinEx Ecosystem, CoinEx plans to extend the usage and applications to scenarios such as payments etc.
Since the birth of crypto currency in 2009, the market has grown from almost zero to the current market value of hundreds of billion dollars, with the number of encrypted digital assets growing from merely Bitcoin to thousands of types. The booming of Blockchain technology along with the development of the industry generated a huge wave in the market. The development of Token economy has brought about a more advanced business model, and diversity to the usage scenarios of encrypted digital assets. Meanwhile, the attitude of governments around the world towards cryptocurrency is gradually changing, from opposition, prohibition to recognition and even legislative support. It’s estimated that over 10 million people are currently involved in the crypto investment globally. We predict that hundreds of millions or even billions of users will join this wave in the foreseeable future and bring huge investment as well as job opportunities. And in this industry, at the core of it, the trading platform plays a vital role in value discovery and circulation.
The vision of CoinEx is to build a world-class digital coin exchange platform. Via Fintech, we hope to set up a secure, fair, trustworthy and open trading platform. We will continue to focus on cryptocurrency and provide users with diversified product and services including crypto-crypto and OTC trading, derivatives trading platform and decentralized exchange etc.
- Crypto-crypto trading: Supported by proprietary high-speed matching engine, the crypto-crypto exchange of CoinEx will list more selected coins/tokens, continue to perfect user experience and liquidity, and introduce Margin trading to serve more users globally.
- Derivatives trading: CoinEx derivatives trading platform will provide high leverage trading and hedging services to professional users, including perpetual contracts, futures, and options etc. More innovative and competitive contract products are also in the pipeline.
- Decentralized exchange: CoinEx is launching a public chain dedicated to decentralized trading: CoinEx Chain and a CoinEx Chain-based decentralized exchange - CoinEx DEX. It will be a one-stop platform to issue, store, and exchange tokens.
Stay tuned for more products and services… …
CoinEx reserves the final explanation of the announcement.
Apr 19th, 2019