- Coin Introduction
About CoinEx Token (CET)
What's CoinEx Token (CET)？
CET is the platform token of cryptocurrency exchange platform CoinEx. As a user value-added service equity system within the CoinEx business ecosystem, CET is issued based on the Ethereum ERC20 standard. After the CoinEx Smart Chain mainnet is launched in 2021, CET was migrated to the CoinEx Smart Chain. CET can be circulated and used in a variety of scenarios within the CoinEx ecosystem. The increase in the value of CET is inseparable from the continuous prosperity of the CoinEx ecosystem. At the same time, the CoinEx ecosystem will also benefit from the value flow of CET.
How Does CoinEx Token (CET) Work？
CET’s repurchase and destruction mechanism
CoinEx exchange uses 20% of the daily platform fee income to repurchase CET, and at the end of each natural month, all CET repurchased in that month will be burned. Compared with the performance of other exchanges in releasing destruction data of platform coins every quarter, CoinEx conducts repurchases on a "day" basis, burns them uniformly at the end of the month, and publishes destruction information every day to ensure openness and transparency, thus avoiding the problems that may occur in other exchanges' quarterly destructions such as unreasonable operating space. The continuous daily repurchase makes the price of CET more in line with the stable upward trend, and also allows investors to hold CET with peace of mind and achieve wealth growth together with the CoinEx exchange.
CET continues to empower and become a “necessity” for transaction
As the platform token of CoinEx, CET actually has multiple application scenarios in the CoinEx ecosystem, the most important of which is the handling fee discount during user transactions, which makes many people "arbitrarily" purchase some CET when trading on CoinEx. In order to enjoy the handling fee discount.
In addition, CET holders can enjoy privileges in multiple application scenarios. For example, holders of CET can become VIP users of the platform. In addition to rate discounts, VIP users also enjoy accelerated cash withdrawals, token airdrops, new token listing activities and exclusive Enjoy customer service and other rights.
CSC public chain helps CET develop rapidly
Another application scenario of CET is the CSC public chain (CoinEx Smart Chain). The CSC public chain is a new generation of high-performance public chain created by CoinEx. The chain uses CET as the gas token. Operators participating in node operations need to stake CET to produce blocks, which also caused a large amount of circulating CET to be locked up for a long time. So for the market, the selling pressure on CET has been greatly reduced, which has also contributed to the rise of CET.
In addition, CSC not only has fast transfer speed and low gas fee, but is also compatible with EVM. DAPP developers can easily deploy codes on CSC on Remix, thus attracting more investors to use it and further promoting the development of the ecosystem. CSC public chain It has become a public chain with multiple ecological applications DAPP.
Discount on platform transaction fees: CoinEx platform users can directly use CET to deduct equivalent value of transaction fees when trading, and enjoy exclusive rate discounts.
Enjoy VIP services: Holding a certain amount of CET can become a platform VIP customer. Becoming a platform VIP can obtain privileges such as rate discounts, withdrawal acceleration, exclusive activities, and exclusive customer service.
Exclusive activity rights: CET holders can enjoy special rights and interests in platform marketing activities, such as participating in token airdrops, voting for token listing, high-quality project investment opportunities, etc.
CoinEx Smart Chain (CSC) built-in token: CoinEx Smart Chain (CSC) is a smart chain launched by CoinEx that supports smart contracts. CET is used as CSC’s built-in circulation token and its gas.
More circulation scenarios: In addition to circulation within the CoinEx ecosystem, CoinEx will also promote the use and circulation of CET in more external scenarios, such as payments.
The initial supply of CET is 10 billion. Since its launch, it has been distributed and circulated through various forms such as airdrops, transaction fee returns, operational promotions, and team unlocks. Among them, 1.8 billion CET has been allocated to the CoinEx team for team building and marketing, divided into five Annual linear release. In March 2021, the CoinEx team decided to burn the remaining 1.08 billion un-unlocked CET held by the team at one time. Since then, CET has entered full circulation. This round of destruction can also be said to be the most powerful platform token destruction in the history of cryptocurrency.
According to CET circulation and repurchase and destruction data, as of January 5, 2024, the total amount of CET is approximately 2.9 billion.