CoinEx outlines core values of CET, exchange's native token
CoinEx outlines core values of CET, exchange's native token
CoinEx's publication delves into the fundamental values of CET, the platform's internal cryptocurrency. CET is a critical component of the CoinEx ecosystem, providing various benefits to its holders.
CoinEx Token (CET) is the native utility token of the CoinEx exchange, widely recognized for the payment of trading fees on the platform. Launched in January 2018, CET has evolved significantly through numerous developments. CoinEx shares the following key features.
- The burning system for CET
CET operates on a Proof-of-Stake (PoS) consensus protocol and follows a deflationary model. To control its supply, CoinEx uses frequent buyback and burn activities, which can potentially increase the value of CET. Every day, CoinEx uses 20% of its platform fee revenue to buy back CET and then burns these tokens at the end of each month.
The initial total supply of CET was 10 billion. The current total supply of CET is 2.804 billion, with nearly 99% of them in circulation, highlighting a nearly full circulation ratio.
- Holding CET for benefits: VIP membership
Users who hold 2,000 CET or more automatically become VIP members, receiving discounts on trading fees and access to exclusive promotions throughout the year. VIP members can earn up to 40% in referral rewards by inviting friends to join CoinEx. VIP members also receive free airdrops, limited bonuses, priority customer support and more.
- CET as fuel token on CoinEx Smart Chain (CSC)
CET serves as the fuel token for CSC. Validators on the CSC use CET to generate blocks, locking up significant amounts of CET for the long term and reducing market selling pressure, which can increase the value of CET. In addition, CSC offers compatibility with the Ethereum Virtual Machine (EVM), attracting developers and fostering ecosystem growth.
- The distinctiveness of CET
Unlike many centralized exchange native tokens, CET combines trading fee discounts and stakes with extra advantages such as VIP privileges and extensive ecosystem benefits. Its aggressive burn mechanism significantly reduces overall supply over time, increasing scarcity and potential value.
- CET value statistics
CET has shown impressive growth since its launch, with a price increase of 999.61%. Over the past year, CET has increased in price by 78.58%, and over the past six and three months, CET has increased in price by 101.06% and 74.94%, respectively.
CET's comprehensive approach provides a robust incentive structure for users to hold and use the token, increasing its appeal and utility both within the CoinEx platform and the broader crypto market.
See also: BingX enhances transparency by sponsoring CoinGecko's 2024 Q2 market report
