Dear CoinEx users,
According to the Disclosure of CET Circulation and Future Applications, a total of 1.8 billion CET will be allocated to the CoinEx team for team building and market development, which will be released linearly in five years. At present, 720 million CET in two batches has been unlocked, and 1.08 billion CET remains locked. After rigorous consideration, the CoinEx team decided to destroy a total of 1.08 billion locked CET at one time.
After this destruction, CET began to circulate completely. The current total circulation is 4.34 billion CET, with a market capitalization of approximately 113 million USD. At present, the amount of CET automatically repurchased by CoinEx each day far exceeds the mining output of CoinEx Chain, and CET has officially entered a state of deflation.
About CET
CET (CoinEx Token) is a value-added service and privilege scheme based on CoinEx ecosystem and is applicable to various scenarios. The applications of CET include but not limited to:
1. Long-term repurchase and burning
CoinEx will automatically repurchase and burn CET every day with 50% of its transaction fee income, and burn all the CET repurchased quarterly at the end of each quarter, until the total supply of CET reduces to 3 billion.
2. Deducted as transaction fee
CET can be deducted directly with the same market value as transaction fee at a dedicated discount.
3. VIP services
Users with a certain amount of CET can become VIP to experience services such as fee discount, withdrawal acceleration, exclusive customer service, etc.
4. Promotional campaign privileges
CET holders will enjoy special privileges for promotional campaigns on CoinEx, including token airdrop incentives, voting for token listing, qualify project investment opportunities, etc.
5. Built-in token on CoinEx Chain
CET is the built-in token on CoinEx Chain to pay for “gas”. CoinEx Chain is a decentralized and highly effective public chain dedicated for DeFi.
CoinEx reserves the right of final interpretation of this announcement.
CoinEx Team
February 20, 2021
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CoinEx Burned All Locked CET
