What is CoinEx Token (CET)?
Issued in January 2018, CoinEx Token (CET) is a value-added services & privileges scheme within the CoinEx business ecosystem. It was first launched on the Ethereum ERC20 network and has now been migrated to CoinEx's self-developed public chain - CoinEx Smart Chain (coinex.org) - as its gas.
How to get CET?
1. Referral Rewards: Refer your friends to trade on CoinEx and you will get CET as a reward.
1. Deducted as trading fees: CoinEx users can use CET tokens to directly pay trading fees of equivalent value, and enjoy exclusive fee rate discounts.
2. VIP privileges: Users with certain CET holdings can become a VIP and enjoy fee discounts, exclusive customer service, and other privileges.
3. Exclusive promotional privileges: CET holders are entitled to special qualifications for CoinEx promotions, such as airdrop incentives, potential projects subscription, etc.
4. CoinEx Smart Chain: CET circulates as a built-in token of CoinEx Smart Chain and acts as gas. Based on the PoS consensus protocol, it is decentralized, efficient, and energy-saving, making it easy to build your own decentralized applications.
More use cases: In addition to circulating within the CoinEx ecosystem, CoinEx will also promote the use and circulation of CET in more scenarios, such as payments.
CET Repurchase & Burning
Since its release, CET has been issued and circulated through airdrops, trading fee rebates, promotions, team unlocking, etc. According to the agreement, CoinEx will use 50% of the platform's daily trading fee revenue to repurchase CET, and will completely destroy all repurchased CET at the end of each month until the total supply of CET is reduced to 3 billion.
Furthermore, based on user feedback and careful consideration, CoinEx decided on March 12, 2021, to continue using 20% of the platform's trading fee revenue for CET repurchase and destruction after the total supply of CET is reduced to 3 billion until all CET is completely burned.
For more details, please refer to the CET section in CoinEx announcement center.
1. Crypto Trading: Based on its self-developed high-speed matching engine, the crypto trading platform of CoinEx will list more quality cryptos in the future, while continuously improving product experience and market liquidity to serve more global users.
2. Derivatives Trading: CoinEx derivatives trading platform provides professional users with high-leverage trading and hedging services, including perpetual contracts, crypto loans, etc. More innovative and competitive derivatives are also in the pipeline.
3. Decentralized Exchange: Based on the CoinEx Smart Chain, the decentralized trading platform supports the automatic market-making algorithm as well as the traditional order book model, which is more flexible and caters to traditional trading habits, providing users with a highly functional and easy-to-use interface.
4. CoinEx Smart Chain: Built on a PoS consensus protocol, the CoinEx Smart Chain is decentralized, efficient, and energy-saving, helping you easily build your own decentralized applications.