Ethereum

Token

CoinEx Token

ERC20

<p>The post <a href="https://coinpedia.org/press-release/exploration-of-cet-tokenomics-and-coinex-ecosystem-development/" rel="noopener noreferrer nofollow">Exploration of the CET Tokenomics and CoinEx Ecosystem Development</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p><a href="https://www.coinex.com/en/token" target="_blank" rel="noopener noreferrer nofollow">CoinEx Token (CET)</a> is the native token of the <a href="https://www.coinex.com/en/" target="_blank" rel="noopener noreferrer nofollow">CoinEx</a> platform, first launched in January 2018. Initially, CET was issued based on the Ethereum ERC20 standard. Let’s dive into CET’s tokenomics and how its ecosystem has evolved.</p>
<h2 class="wp-block-heading" id="h-cet-use-cases-the-role-of-cet-in-coinex-ecosystem">CET Use Cases – The Role of CET in CoinEx Ecosystem</h2>
<p>If you are the holder of CET, you can use CET in various scenarios within the CoinEx ecosystem. CET can be used as Coinex Exchange trading fees with the same market value as fee deduction. CET holders can also be staked for VIP membership to enjoy rewards, withdrawal acceleration, and exclusive customer service. CET holders are entitled to special qualifications for promotional campaigns on CoinEx such as airdrop incentives, and accelerator support for quality projects.<br>&nbsp;<br>Most importantly, with the launch of the CSC public chain, a decentralized and energy-efficient public chain which is based on the PoS consensus protocol, CET is a built-in token and functions as its “gas”.<br><br>In short, CET plays a big role in CoinEx trading fees and CoinEx smart chain governance. With the help of CET, CoinEx created a self-sustaining ecosystem that aligns the interests of the platform, traders, and the broader crypto community. This innovative approach has not only fostered growth and development. In the future, with the development of the CoinEx ecosystem and enhancement of CET use cases,&nbsp; it will become a benchmark for decentralized ecosystems.</p>
<h2 class="wp-block-heading" id="h-cet-burning-made-cryptocurrency-history">CET Burning Made Cryptocurrency History</h2>
<p>CET started with 10 billion tokens. It’s been distributed through airdrops, fee discounts, promos, and team unlocks. To stabilise the price and maintain market price, CoinEx pledged to use 20% of daily platform fees to buy back and burn CET monthly and at the end of each calendar month, all CET repurchased that month is burned.<br><br>In March 2021, CoinEx made history by burning 1.08 billion unlocked CET at once. This put all CET into circulation and marked the biggest platform token burn ever in crypto. CoinEx pioneered daily buybacks and burns for exchange tokens. As of 18 July 2024, CET’s total circulating supply is over 2.7 billion, based on circulation, buyback, and burn data.</p>
<h3 class="wp-block-heading" id="h-conclusion">Conclusion</h3>
<p>The <a href="https://www.coinex.com/en/token" target="_blank" rel="noopener noreferrer nofollow">CET </a>tokenomics and ecosystem have strengthened <a href="https://www.coinex.com/en/" target="_blank" rel="noopener noreferrer nofollow">CoinEx’s</a> position as a pioneer in the cryptocurrency exchange. Fostering user engagement promoting decentralization and supporting the CSC public chain etc., CET would play an important part as the CoinEx ecosystem expands and is anticipated to be used in various scenarios.</p>

Exploration of the CET Tokenomics and CoinEx Ecosystem Development

Table of Contents

CoinPedia News

دیگر آرٹیکلز 29 جولائی، 2024 پر پبلش کیے گئے ہیں

BlackRock Warns Investors About Social Media Scams

BlackRock Addresses Rise in Bitcoin and Ether ETF Scams

Bitcoin Price Crashes as US Government Transfers $2 Billion Worth of BTC

Crypto Markets Overcome Major Fears

Ethereum Price Pumps Almost 5% As Grayscale Sends $358M ETH To Coinbase And This PEPE 2.0 ICO Bla...

Floki Announces Valhalla Sponsorship for India’s Tour of Sri Lanka, Targeting 220M Viewers

Join our free newsletter for daily crypto updates!