CET, Coinex
press release

PRESS RELEASE. Hong Kong, February 23, 2021 – CoinEx, a global and professional cryptocurrency exchange service provider, announced on last Saturday that it has finished a historic burn of 1.08 billion locked CoinEx Token (CET) allocated to the CoinEx team for team building and market development at one time. This CET token burn is the highest one ever carried out by the exchange.

After this burn, the total circulation is 4.34 billion CET, with a market capitalization of approximately 113 million USD. At present, the amount of CET automatically repurchased by CoinEx each day far exceeds the mining output of CoinEx Chain. CET token has officially entered absolute deflation,and became a fully circulating platform token. Through this initiative, CoinEx provides CET holders with greater long-term value.

CoinEx Pioneers Daily Repurchase Mechanism

CET’s original quarterly repurchase and burn initiative was launched on July 1, 2018, and was adjusted to daily repurchase and quarterly burn on April 11, 2020. CoinEx repurchases CET in the secondary market with 50% of its daily profits from transaction fees everyday, and burns them at the end of each quarter. When the circulating supply of CET reduces to 3 billion, CoinEx will suspend the CET repurchase and burning.

Driven by strong growth, CoinEx’s revenues put towards its token burning plan represents a great increase these days. Users can view the datas in real time at https://www.coinex.com/token , which ensures that the entire process is open and transparent.

More Privileges for CET Holders in the CoinEx Ecosystem

Issued in January 2018, CET is a value-added services & privileges scheme based on CoinEx’s ecosystem. CET is issued on Ethereum ERC20 protocol and has been launched on the CoinEx Chain and acts as gas. Beyond its ongoing repurchase and burn initiative, CET holders can also benefit from multiple privileges when trading on the platform.

CET can be deducted directly with the same market value as transaction fee at a dedicated discount. Users with a certain amount of CET can become VIP to experience services such as fee discount, withdrawal acceleration, exclusive customer service, and so on. Moreover, CET holders will also enjoy special privileges for promotional campaigns on CoinEx, including token airdrop incentives, voting for token listing, and qualify project investment opportunities.

“2021 will see more improvements from CoinEx. With the expansion of our ecosystem in the future, CET will have more application scenarios and bring more advantages for our users,†said Haipo Yang, Founder and CEO of CoinEx.

About CoinEx

As a global and professional cryptocurrency exchange service provider, CoinEx was founded in December 2017 with Bitmain-led investment. It is a subsidiary brand of the ViaBTC Group, which owns the fifth largest BTC mining pool and is also the largest BCH mining pool in the world.

CoinEx supports spot, perpetual contract, and other derivatives trading. Its service reaches global users in nearly 100 countries/regions with various languages available, such as Chinese, English, Korean and Russian.

Website: https://www.coinex.com/
Twitter: https://twitter.com/coinexcom
Telegram: https://t.me/CoinExOfficialENG

Contact
Jessica Zhang
CoinEx PR Department
jessica.zhang@coinex.com


RELATED NEWS

CoinEx Celebrates Third Anniversary With Overall System and Product Upgrade

PRESS RELEASE. CoinEx, a global and professional cryptocurrency exchange service provider, celebrates its third anniversary and announces that it has upgraded and optimized the underlying system as well as the front-end. After months of hard work by the R&D department, CoinEx has completed the system upgrade named “Aegisâ€. This upgrade significantly improves the performance and […]

Xem chi tiết: CoinEx Celebrates Third Anniversary With Overall System and Product Upgrade

Chiliz $CHZ Growth Continues With Trio of New Listings

press release Chiliz $CHZ – the digital currency for sports and entertainment – has announced listings on the Bitcoin.com Exchange, HitBTC and Changelly platforms. Chiliz is the on-platform currency of fan engagement platform Socios.com, which is built on the Chiliz blockchain infrastructure. Socios.com allows sporting and entertainment organisations to monetize their global fanbases through digital […]

Xem chi tiết: Chiliz $CHZ Growth Continues With Trio of New Listings

Online Retail Giant Rakuten Allows People to Load Payment App With Cryptocurrencies

The firm Rakuten Inc., often referred to as “the Amazon of Japan,†announced customers can now load up Rakuten Pay accounts with cryptocurrencies like bitcoin, ethereum, and bitcoin cash. In order to commemorate the latest crypto service, Rakuten is also offering bonus points to people leveraging “Rakuten Cash†via crypto assets. Crypto Can Pay for […]

Xem chi tiết: Online Retail Giant Rakuten Allows People to Load Payment App With Cryptocurrencies

Mad Money’s Jim Cramer Has a Plan to Save Gamestop With Bitcoin

Mad Money host Jim Cramer thinks he has a solution to save troubled video game retailer Gamestop with the help of bitcoin. He suggests that Gamestop should raise money to buy the cryptocurrency, then convert its 5,000 locations into bitcoin stores. He believes his idea will work. Jim Cramer Has Idea to Use Bitcoin to […]

Xem chi tiết: Mad Money’s Jim Cramer Has a Plan to Save Gamestop With Bitcoin

Shark Tank’s Kevin O’Leary Reverses Stance on Bitcoin, Says Crypto Is Here to Stay, Invests 3% of His Portfolio

Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has begun investing in bitcoin. Having previously called the cryptocurrency “garbage,†he has now changed his mind and believes that cryptocurrencies are here to stay. He is also getting used to the volatility of bitcoin and believes that institutional investors are willing to hold through price fluctuations. […]

Xem chi tiết: Shark Tank’s Kevin O’Leary Reverses Stance on Bitcoin, Says Crypto Is Here to Stay, Invests 3% of His Portfolio

Stone Ridge’s Open-End Mutual Fund to Invest in Bitcoin — SEC Filing Opens the Door for Other Mutual Funds to Add BTC

Asset management firm Stone Ridge has filed with the U.S. Securities and Exchange Commission (SEC) for its open-end mutual fund to invest in bitcoin. “This is a big deal. Stone Ridge filing opens the door for every mutual fund to add bitcoin,†said a fellow asset manager. Stone Ridge Wants Its Mutual Fund to Invest […]

Xem chi tiết: Stone Ridge’s Open-End Mutual Fund to Invest in Bitcoin — SEC Filing Opens the Door for Other Mutual Funds to Add BTC

Bearish Outlook as Bitcoin’s Seven-Day Average Sinks 25%, ADA Shines During the Storm

Digital currency markets have been bearish in recent days as prices have continued to sink lower. The entire market capitalization of all the crypto assets in existence is down over 8% on Sunday at $1.25 trillion. Bitcoin has plummeted from its all-time high (ATH) of $58,350 last Sunday to today’s low of $43,189 per unit. […]

Xem chi tiết: Bearish Outlook as Bitcoin’s Seven-Day Average Sinks 25%, ADA Shines During the Storm

20 Bitcoin Block Rewards from 2010 Moved Today, Mystery Miner Spent $400 Million in BTC Since Black Thursday

On Saturday, February 27, 2021, news.Bitcoin.com reported on the great number of 2010 and 2011 block rewards being spent this year. In that report, it was said that the mysterious whale entity we’ve been hunting “did not move a major string of bitcoin’s†since January 25. Following the publishing of that study, on Sunday, the […]

Xem chi tiết: 20 Bitcoin Block Rewards from 2010 Moved Today, Mystery Miner Spent $400 Million in BTC Since Black Thursday

177-Year-Old Swiss Bank Bordier to Offer Bitcoin and Other Crypto Trading Services

Coinbase Files for IPO via Direct Listing on Nasdaq — Valuation Soars Above $100 Billion

Crypto Users Claim Popular Bitcoin Paper Wallet Generator Is Compromised, Millions Allegedly Stolen

From Gold to Greenbacks: A Look at the US Dollar’s Devaluation, Manipulation and Militant Backing

Report: Asia’s Cryptocurrency Landscape the Most Active, Most Populous Region ‘Has an Outsize Role’

JPMorgan Says Investors Can Put 1% of Their Portfolios in Bitcoin Despite Calling It a Poor Hedge

Harvard Professor Kenneth Rogoff Warns Central Banks Will Never Allow Bitcoin to Go Mainstream

Institutional Investors Pile Into Crypto Exchange-Traded Products: Managed Assets Rise to $44 Billion This Month

Other Articles