CET has always been an important part of supporting the ecosystem of CoinEx. It is CoinEx's native token. CoinEx attaches great importance to the sustainable development of CET. Not long in the future, CET will have more use cases and be given more utilities, and CET holders will also be given more equity. On the eve of CET empowerment, it is vital to know the application of CET and its status in the CoinEx ecosystem.
The Equity of CET Holders
CET provides several significant benefits for CoinEx users within the CoinEx ecosystem, making it a valuable asset. One of the primary advantages is the ability to enjoy trading fee discounts. CET holders can benefit from reduced transaction costs on the CoinEx exchange, allowing them to maximize their profits while minimizing fees.
More than that, CET holders may gain access to various VIP privileges. As users accumulate more CET, they can potentially move up in VIP tiers, unlocking even more benefits. These privileges can include enhanced fee reductions, faster withdrawal processes, and access to exclusive customer support, airdrops, and promotions. VIP fee discount is applicable on top of CET deduction.
CET also offers opportunities for staking rewards. Users can participate in staking programs where they lock up their CET tokens in exchange for earning additional rewards or tokens. This not only helps grow their holdings but also supports the overall stability of the CoinEx platform.
Tokenomics of CET
CET serves as the platform token for the CoinEx exchange and plays a key role in its ecosystem. Starting with a total supply of 10 billion tokens, CET was distributed through various methods, including airdrops, transaction fee returns, and team allocations.
A portion of CETs are held by the company. These tokens are primarily used for team incentives and marketing purposes. CoinEx will not sell these CET tokens on the market.
In a major move to reduce the token supply and enhance its value, CoinEx burned 1.08 billion CET in March 2021, the largest platform token burn in crypto history. This burn put all remaining CET into circulation, demonstrating CoinEx's commitment to its tokenomics strategy.
CoinEx employs a robust token burning mechanism to maintain CET's deflationary model. The platform allocates 20% of its daily trading fee income to repurchase CET tokens. These repurchased tokens are burned at the end of each month, permanently removing them from circulation. Unlike other platforms that conduct quarterly burns, CoinEx’s daily repurchases and monthly burns ensure a steady reduction in CET supply. Users can access the data of repurchases and burns on CoinEx’s website, ensuring ongoing transparency and accountability.
CET and CoinEx Ecosystem
As a native token of the CoinEx ecosystem, CET acts like its backbone, driving its utility, security, and growth.
A native token is crucial for an exchange that operates its own blockchain. It serves as a key economic incentive, offering users benefits such as discounted trading fees, staking rewards, and reduced transaction costs on the blockchain. This not only encourages active use but also contributes to the token's stability and value.
CET also plays a vital role in maintaining liquidity and driving market growth within the CoinEx ecosystem. It is frequently paired with other cryptocurrencies, ensuring liquidity on CoinEx and facilitating market activities.
In terms of security, CET is integral to the network's health. By staking tokens, validators secure the network, making it resilient against attacks while benefiting from the network's success. Token burning further enhances CET’s value and contributes to overall network security.
By aligning the interests of the users, developers, and the platform, CET is key to fostering CoinEx’s brand loyalty and ecosystem growth. It seamlessly integrates use cases like automated market making (AMM), lending, borrowing, and payment solutions, creating a cohesive user experience that fosters long-term engagement.
Unlocking the Future: How CET Empowers CoinEx Users
CoinEx is committed to providing high-quality products and services to its customers. Whether users are beginners or professional cryptocurrency traders, they can conduct quick, comprehensive, and diverse transactions through CoinEx with secure and effective protection.
CET is an indispensable component within the CoinEx ecosystem; holding CET is like holding the key to accessing CoinEx, enabling traders to embark on their trading journey at any time.
Now, CoinEx is taking a significant step forward by upgrading CET to unlock even more exciting utilities and use cases. This enhancement reflects our commitment to continually enriching users experiences within the CoinEx ecosystem. With these new developments, CET will not only offer greater value but also open up a world of possibilities, empowering users to engage with CoinEx in innovative and rewarding ways.
Stay tuned for more details on this exciting upgrade.
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