CoinEx is one of the leading cryptocurrency exchanges that has already gained over 10 million users worldwide. Its native token, CET, plays a key role in the development and modernization of the platform.
With a commitment to security, transparency, and innovation, CoinEx, through CET, bridges traditional finance with the rapidly evolving world of cryptocurrencies. This provides users with new opportunities to engage, transact, and succeed in the digital economy. Burning the native token is another key element of the platform’s strategy.
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The Importance of CET in the CoinEx Ecosystem
CET is the native token of one of the leading cryptocurrency exchanges, CoinEx. It is an ERC-20 token based on the Ethereum network that was launched in 2018 with an initial supply of 10 billion. In 2021, the token was moved to the main network of CoinEx Smart Chain, and the exchange made a significant step by burning over 1.2 billion CET tokens.
CET plays a key role in developing added value for users. Token holders enjoy a range of benefits, such as VIP services, discounts on transaction fees, priority withdrawals, participation in staked transactions, and dedicated customer service. The development of the CoinEx platform is closely linked to the CET token, and improving infrastructure translates into increased efficiency of the entire ecosystem.
Additionally, the support of ViaBTC, one of the most reputable bitcoin mining companies, ensures the stability of the exchange. The CET token is also key to the products offered by the exchange, such as CoinEx Staking, CoinEx Dock, CoinEx Loan and the CoinEx financial account. These innovative solutions contribute to the increased use of the CET token and its further development.
How does the CET token work?
The CET token operates on a burn and buyback mechanism, operating on the CoinEx smart chain. It acts as both a governance token and a key building block for decentralized applications (dApps), which increases the overall usability of the blockchain and supports the development of a diverse and dynamic ecosystem of applications and services.
CoinEx regularly buys back CET tokens for burning, using 20% of the income from transaction fees at the end of each month. There are currently over 2 billion CET tokens in circulation, of which 71.79% (over 7 billion) have already been burned. An additional 3 million tokens are planned to be burned in the near future. Over the past 30 days, the platform has bought back over 8 million tokens for burning.
The aim of this mechanism is to achieve zero supply of tokens in circulation, which supports the transparency of CET. These actions contribute to the deflationary nature of the token, which in turn can bring positive effects in the long run and provide users with attractive profits.
CET Resource Security
CET takes a comprehensive approach to security, offering multi-layered protection that ensures the safety and integrity of user assets. Token staking plays a key role in this system, allowing users to actively participate in defending the network from potential attacks. The staking process is supported by wallets and extensions that add additional layers of security.
With solid systems such as cold wallet storage and private key encryption, the security of CET tokens is greatly enhanced. Users can safely store their tokens in a protected environment using multi-signature or secure private key options.
Advantages of the CET token
The CET token offers a number of important benefits:
- CET tokens can be used for various functions in the CoinEx ecosystem, such as participating in promotions, voting, and accessing premium services.
- The burning mechanism implemented by CoinEx supports the long-term growth of the token value, which translates into attractive profits for users.
- CET increases the liquidity of trading pairs on the CoinEx exchange, which contributes to a more dynamic and efficient market.
- The token also enjoys active support from the community and experts who are always available to help users.
- CET token holders can benefit from discounts on transaction fees, which makes using the platform even more profitable.
In summary, the CET token is the foundation of the CoinEx ecosystem, offering users a range of benefits and the ability to trade various assets with attractive discounts on transaction fees. The CET token burn mechanism, in turn, contributes to long-term value growth.
