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Born in January 2018 based on ERC-20 standard, CoinEx Token (CET) is issued with many privileges and added value on CoinEx ecosystem. CET has now been moved to be deployed on CoinEx Smart Chain (CSC).
CET was created by CoinEx, a cryptocurrency exchange founded in December 2017 with the mission of making cryptocurrency trading easier. CoinEx currently offers spot trading, futures, margin trading, AMM, mining, financial services, and CoinEx Dock. In 2018, the CET was issued based on the ERC-20 standard. After the CSC mainnet officially went live in 2021, CET has been migrated to CSC along with many use cases on the CoinEx ecosystem.
The initial supply of CET is 10 billion. Since its release, CET has been circulated in various ways, including airdrop offers, transaction fees, promotions, unlocking for vesting… In March 2021, CoinEx decided to burn 1 .08 billion CET unlocked remaining at once.
CoinEx will redeem CET every day with 50% of transaction fee income and burn all redeemed CET at the end of each month until the total supply of CET is reduced to 3 billion. In the next phase, the exchange will continue to spend 20% of the transaction fee proceeds on repurchasing and burning CET. As of April 13, 2022, the total supply of CET is at about 3.6 billion.
Currently, users can use CET in the following cases:
Pay transaction fees
When trading on CoinEx, CET will be used to pay for transaction fees.
VIP services and privileges
Holder CET can become a VIP member and enjoy privileges such as transaction fee discount, priority withdrawal, participation in events, exclusive customer service…
Special promotion offer
CET holders can participate in special campaigns such as airdrops, token listings, high-end projects, etc.
Join the CSC . ecosystem
Users can create their own DApp easily.
Along with the advancement of blockchain technology and the expansion of the cryptocurrency market, besides paying transaction fees on the chain, CET also offers many useful functions and use cases as mentioned above. above. CoinEx will continue to add value to CET and expand its position globally.
About CoinEx and ViaBTC’s Ecosystem
CoinEx is a professional cryptocurrency exchange service provider with global operations. CoinEx exchange was established on 12/2017, and is headquartered in Hong Kong. CoinEx is developed by elite staff in various fields such as Blockchain, finance and services. CoinEx is a member of the ViaBTC ecosystem which includes: CoinEx Cryptocurrency Exchange, CoinEx Smart Chain (CSC), OneSwap Decentralized Exchange, ViaBTC Pool, ViaWallet Wallet, Investment Fund ViaBTC Capital investment.
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