What is CET?
Issued in January 2018, CoinEx Token (CET) is a value-added services & privileges scheme based on CoinEx’s business ecosystem. The token is issued on Ethereum ERC 20 protocol and will be launched on a public CoinEx Chain (coinex.org) in the future. CET represents exclusive services and privileges on CoinEx ecosystem and can be used in diversified scenarios.
Since its release, CET has been issued and circulated via airdrop incentives, transaction fee discounts, promotions, and team unlocking etc; Meanwhile, according to the applications of CET, CoinEx has repurchased and burnt a total amount of 112 million CET by Apr 1, 2019. What’s more, we burned the rest of the unissued 4 billion CET heldCoinEx Team on Jan 31st, 2019 and have continuously repurchased extra CET from secondary market. So far, the total supply of CET is 5.888 billion (Est. value of 120 million USD), including 2.888 billion circulating CET (Est. value of 60 million USD) and 3 billion unissued CET.
Application of CET
CoinEx will buy back and "burn" CET with 50% of its quarterly transaction fee profit at the end of each quarter
Deducted as trading fees
CET can be deducted directly with the same market value as trading fees at the dedicated discounts.
VIP services and privileges
Users with a certain amount of CET holdings will become VIP or can use CET to buy VIP membership and the privileges therein such as fee discount, withdrawal acceleration, exclusive customer service etc.
Promotional campaign rights
CET holders will enjoy special qualifications for promotional campaigns on CoinEx, for instance token airdrop incentives, Accelerator support etc.
Preinstalled token on CoinEx Chain
CET will be used as preinstalled token on CoinEx Chain to pay for “gas” and users can used CET to invest in or trade other coin/token assets.
More privileges on the way
Aside from circulating within CoinEx Ecosystem, CoinEx plans to extend the usage and applications to scenarios such as payments etc.