Logged into Coinex after 3 months to discover $2000 in free money through airdrops. Thanks ViaBTC!

in #bitcoin4 years ago

 

What is CET?

CET is an abbreviation for CoinEx Token. This is a crypto currency issued by Coinex to its traders based on their trading activity. If you create an account with coinex you will have, among others, a CET wallet where you will be airdropped CET proportionally to how much you trade. So far 200M tokens have been distributed to CET traders proportionally to their trading activity.

Why does CET have any value?

What makes CET valuable is that Coinex shares 80% of its trading revenue with its users proportionally to their CET holdings. In fact, the trading driven mining initiative stipulates that every CET holder receives in his cryptocurrency wallets an amount of crypto that is directly proportional to the fraction of total CET they hold and to the amount of revenue generated on the exchange by the trading activity of each crypto.

Example: User owns 100k CET (~0.047% of the total amount). Your daily payout in btc if the exchange's daily revenue from BTC trading is $20M would be $9400 (1.4 btc). Your daily payout in bch if Coinex's daily revenue from bch is $10M would be $4800 (6.15 bch). Your daily payout in eth if Coinex's daily revenue from eth is $7M would be $3360 (7 eth). And so on for each coin. Your total daily payout would be 1.4 btc + 6.15 bch + 7 eth + .... and so on for all coins listed on Coinex that generate revenue for the exchange.

It follows that as Coinex grows and trading volume increases for each coin the current holders of CET receive bigger and bigger payouts in the listed coins. Moreover, if you do not touch your payouts but let them accumulate, with time you will also build a crypto portfolio diversified by the market because the % of your payouts in each coin will reflect the popularity/trading volume of that specific coin. If coin A overtakes coin B in trading volume/popularity/adoption, your payouts in coin A will follow suit and be bigger and bigger than the payouts in coin A. In a sense the conclusion here is obvious, Coinex has managed to create a unique win (exchange) - win (whales) - win (retail traders) incentive scheme that withstands scrutiny from all levels of "wokeness". Contrary to other tokens where, through ICOs, you are asked to buy in and lock yourself in a proprietary network, nobody is selling CET. Coinex traders are airdropped CET based on their trading activity or early support of the exchange. They receive CET on top of their existing crypto portfolio. And then, proportionally to their CET holdings, holders receive payouts in bch, btc and all other coins listed on the exchange.

CET is not an ICO

I was airdropped CET (worth $500 as we speak). I never spent a cent for the CET I received. So did the dozen others sharing their awe on social media. Nobody spammed my email asking me to buy CET. One day I simply woke up and found out that something I had done in the past (7 months ago) had led to me receiving a 4000 tokens (worthless back then) that now happen to be worth around $500. The reason for this surge is that once Coinex introduced its new policy of sharing profits with stakeholders (CET holders), everyone, as result, wanted to be a stakeholder. This is what increased demand for CET.

Why I bought even more CET: this is a self reinforcing cycle

First of all, because contrary to all other tokens out there, CET has an immediate and tangible benefit, I receive daily payouts in each coin proportionally to their daily trading volume. And then, while Coinex volume grows, so will the payouts for CET holders because payouts are a % of Coinex profits. Since value proposition for buying CET only improves (bigger and bigger payouts at stake), demand for CET can only increase, especially if we consider that Coinex is still relatively small and has plenty of room to grow. Coinex, with its trade driven mining model, easily outcompetes all legacy exchanges. The cost of trading on Binance and Coinex is the same, but by trading on Binance or Bitfinex you'd be giving up the Coinex payouts. Binance doesn't allow you to build a stake in binance through your trading activity, Coinex does. As result, now that there is Coinex, there is no reason for any trader to keep trading in traditional exchanges.

Who stands behind Coinex?

The company behind the exchange Coinex is the mining pool viaBTC. As anyone can see on Coin Dance this mining pool controls over 10% (15% in the last 24h) of the Bitcoin (btc) hashpower and over 13% (20% in the last 24h) of the Bitcoin Cash (bch) hashpower. Conclusion: Coinex has created the most ingenious trading incentive scheme, by allowing its traders to build a stake in Coinex proportional to their trading activity. Each trader's stake is built through CET airdrops proportionally to their trading volume. Those who are not frequent traders, on the other hand, can still build a stake by buying CET on Coinex. Aside from the crypto payouts, I'm also bullish on the CET token itself.REGİSTER : https://www.coinex.com 

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Great blog and a wealth of great information with a great insight on the CET project the type of blog that brings value to the Steemit family and thats what we love to see thank you and stay strong family

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